The incentives in a corporation are misaligned with the decision makers. They want promotions and more employees under them to justify their own raises, so we get this cosplay of efficient work as natural monopolies keep us all employed.
And many people still believe the myth that competition forces businesses to be efficient or they will fail, and lack of competition likewise makes government inefficient. In truth, a business can be as inefficient as it can afford to be, and the larger and richer the company, the higher that ceiling is.
The incentives in a corporation are misaligned with the decision makers. They want promotions and more employees under them to justify their own raises, so we get this cosplay of efficient work as natural monopolies keep us all employed.
And many people still believe the myth that competition forces businesses to be efficient or they will fail, and lack of competition likewise makes government inefficient. In truth, a business can be as inefficient as it can afford to be, and the larger and richer the company, the higher that ceiling is.