Celebrating humanity's flourishing through the spread of capitalism and the rule of law
30 May 2026 Leave a comment
in applied price theory, economic history, industrial organisation, managerial economics, organisational economics, survivor principle, theory of the firm
Regarding the pervasive problem of cost overruns (defined as government programs and projects that wind up costing far more than initial estimates), I’ve always appreciated this image sent by a reader. It nicely captures a key reason for cost overruns, which is that there is no bottom-line incentive for bureaucrats and politicians to monitor costs. […]
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Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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