Nov 5, 2007

Kevin Duffy on the private and public sectors

One system is based on voluntarism, the other on coercion. Government is a system of theft, robbing Peter to pay Paul. Little wonder it attracts crooks. Capitalism is a system where the prize goes to those who best serve consumers, while balancing the interests of employees and shareholders. Little wonder it attracts entrepreneurs – risk takers – who are a rare breed. Needless to say, the public sector needs one heck of a spin doctor. It must convince everyone that it “serves the people” and that the private sector is full of greedy bastards at best, thieves and fraud artists at worst. Obviously the PR campaign has worked magically.

Kevin Duffy, Bearing Asset Management, November 5, 2004

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