McChesney on Public vs. Private Enterprise

July 8, 2022
In a blast from the past that has only garnered 28 views (and I’m one of them…) on YouTube, the underrated Fred McChesney discusses empirical evidence showing the variation in outcomes between public and private enterprise.
As Piano and Rouanet argue here, property rights thinkers do tend to downplay the importance of economic calculation. The way I see it, though, is that property rights economists are explaining variations in outcomes that emerge as a result of that lack of calculation, even if not explicitly acknowledged.
Here, McChesney discusses evidence from oysters, buses, schools, firefighting, and more.
If this whets your appetite, check out McChesney’s classic book, this paper, or this essay.
notion image