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Criteria for Public Investment: Some Simplifying Suggestions
Major Issues in the Regulation of Financial Institutions: Comment
Hierarchical Control and Optimum Firm Size
There is a great deal of evidence that almost all organizational structures tend to produce false images in the decision-maker, and that the larger and more authoritarian the organization, the better the chance that its top decision-makers will be operating in purely imaginary worlds. This perhaps is the most fundamental reason for supposing that there are ultimately diminishing returns to scale.