Max Sawicky wrote:
>
> >How about a third rationale, efficiency? SS administrative overhead is less
> than 1% of yearly inflows. The typical no-load mutual fund charges around 2%
> of _assets_ in fees, which would turn out to somewhere between 20% and 30%
> of yearly inflows (if I remember correctly, that's roughly how much the
> Chielan finance industry skims off the retiment system there).
> >
> >Have we got to the point were it is simply not possible to talk about
> public sector efficiency?
Efficiency for whom? Efficiency is a word used to describe economic systems, i.e. it's efficient if it continues to make (more and more) money. Public sector efficiency should be based on adequate delivery of services, regardless of cost. The idea that socialised services should conform to private sector benchmarks, SET by the private sector, is ridiculous.
Jess