<abstract xmlns="http://www.w3.org/1999/xhtml"><p> Private enterprises should be concerned with maximizing productivity. Government should be concerned with minimizing risk, perhaps subject to a cost or productivity constraint. Value creation in government ought to strive for consistency, coherency, and transparency. Achieving consistency and coherence in the face of systemic and idiosyncratic risk calls the elaboration of general risk assessment model, which takes account of the various kinds of risk confronted by the diversity of government institutions. Lacking such a model, the best we can hope for is the design and execution of policies and practices that assure reasonably satisfactory outcomes no matter what the future throws at us.</p></abstract>

Private enterprises should be concerned with maximizing productivity. Government should be concerned with minimizing risk, perhaps subject to a cost or productivity constraint. Value creation in government ought to strive for consistency, coherency, and transparency. Achieving consistency and coherence in the face of systemic and idiosyncratic risk calls the elaboration of general risk assessment model, which takes account of the various kinds of risk confronted by the diversity of government institutions. Lacking such a model, the best we can hope for is the design and execution of policies and practices that assure reasonably satisfactory outcomes no matter what the future throws at us.

How Government Creates Value?

Atkinson Graduate School of Management, Willamette University, Salem OR, USA

Economic Themes

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

{"article-title":"How Government Creates Value?"}

Private enterprises should be concerned with maximizing productivity. Government should be concerned with minimizing risk, perhaps subject to a cost or...

How Government Creates Value?

Published Online: Apr 15, 2016

Page range: 449 - 466

Received: Nov 24, 2015

Accepted: Dec 17, 2015

DOI: https://doi.org/10.1515/ethemes-2015-0026

Keywords
Process, Mechanism, Government spending and taxing, Risk, Systemic risk, Public management

© 2016

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

How Government Creates Value?

Published Online: Apr 15, 2016

Page range: 449 - 466

Received: Nov 24, 2015

Accepted: Dec 17, 2015

DOI: https://doi.org/10.1515/ethemes-2015-0026

KeywordsProcess, Mechanism, Government spending and taxing, Risk, Systemic risk, Public management

© 2016

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Keywords
Process, Mechanism, Government spending and taxing, Risk, Systemic risk, Public management