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marketization


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Is the progressive exposure of the public sector to market forces. This might be effected in a number of ways, including the creation of internal markets, compulsory competitive tendering, and privatization. It is motivated by the conviction, elaborated by public choice theorists, that the public sector is prone to inefficiency, its workforce to shirking, and its managers to empire-building. Marketization is designed to provide a salutary shock, in order to keep these tendencies in check.

Subjects: Human Resource Management.


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