"All the alleged key causes of SOE [State-Owned Enterprise] inefficiency the principal-agent problem, the free-rider problem and the soft budget constraint are, while real, not unique to state-owned enterprises. Large private-sector firms with dispersed ownership also suffer from the principal-agent problem and the free-rider problem. So, in these two areas, forms of ownership do matter, but the critical divide is not between state and private ownership it is between concentrated and dispersed ownerships."

-- Ha-Joon Chang

#Real Quotes #Unique Quotes #Two Quotes

“Maybe some folks are alcoholics and others are just voluntary drunks. Maybe some folks drink due to body chemistry and others due to their lazy characters. Maybe some have drinking problems, while others have problems enough to drink.”

Source : George Jones (2014). “I Lived to Tell It All”, p.204, Dell
“Why has it seemed that the only way to protect the environment is with heavy-handed government regulation?”
“Anything that makes you happy can make you sad.”

Source : Patrick Jones (2011). “The Tear Collector”, p.93, Bloomsbury Publishing USA
“The Congress as I see, does not belong to me or to you, but it belongs to the whole country.”
“I do have, at different times, a certain kind of self-consciousness in the world, an insecurity.”
“Sleep would be so welcome. A warm blanket of black to erase everything else. Sleep without dreams. I've heard people talk about the sleep of the dead. Is that what death would feel like? The nicest, warmest, heaviest never-ending nap? If that's what it's like, I wouldn't mind. If that's what dying is like, I wouldn't mind that at all.”
“I'm still hungry. I've still got a million ideas. I'm still strong and ready to create.”
“The morphological characteristics of plant and animal species form the chief subject of the descriptive natural sciences and are the criteria for their classification. But not until recently has it been recognized that in living organisms, as in the realm of crystals, chemical differences parallel the variation in structure.”

Source : Karl Landsteiner (2013). “The Specificity of Serological Reactions”, p.3, Courier Corporation

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