By Dag Detter; Stefan Fölster;
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Additional info for The Public Wealth of Nations: How Management of Public Assets Can Boost or Bust Economic Growth
Later chapters focus on reforming public wealth and providing better governance for it. The elusive quest of assessing value Governments worldwide have only a patchy idea of the national wealth under their control, as many of these assets are hidden. Poor accounting standards, unclear and poorly defined economic statistics and the lack of a consolidated asset list are part of the problem. Accounts are mostly maintained by central national governments and somewhat arbitrarily labeled, as in “financial” versus “nonfinancial” assets.
Not only are firms that follow best practice more productive and profitable, the connection is convincing in many other respects as well. For example, hospitals with better management practices have higher survival rates. Management practices vary considerably across organizations, countries, and sectors, but tend to mirror the spread of performance. One factor linked to this variation is ownership. 25 Don’t bite the hand that feeds you: the cost of poor governance Government, family, and founder-owned firms are more often found to be poorly managed, while multinational, dispersed shareholder, and private equity-owned firms are more often well managed.
It is now expanding outside Europe, offering routes to almost every corner of the world. Rivals, trade unions such as AFL-CIO, the largest federation of trade unions in the US, and some US politicians accuse Norwegian of social dumping and are lobbying Washington to prevent Norwegian from obtaining a license for its Ireland-registered long-haul subsidiary, Norwegian Air International. In the meantime, consumers show their appreciation for their services in growing numbers. Proponents of public ownership often express fears over the overexploitation of land or other assets when these are held in, or sold into, private hands.
The Public Wealth of Nations: How Management of Public Assets Can Boost or Bust Economic Growth by Dag Detter; Stefan Fölster;