Joan Robinson Quotes
It is a popular error that bureaucracy is less flexible than private enterprise. It may be so in detail, but when large scale adaptations have to be made, central control is far more flexible. It may take two months to get an answer to a letter from a government department, but it takes twenty years for an industry under private enterprise to readjust itself to a fall in demand.
Citations
Robinson, Joan. Collected Economic Papers, vol. 1. Basil Blackwell, 1951.
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Joan Violet Robinson FBA was a British economist well known for her wide-ranging contributions to economic theory. She was a central figure in what became known as post-Keynesian economics.