The United States recently elected billionaire businessman Donald Trump as its 45th president. Trump has no prior experience in government, and campaigned in part on his business track record. Voters seemed to like that, apparently thinking that government needs to run more like a business.
While government can certainly learn from business, it’s important to note that government is different than business. President Obama contrasted the two well, as described in a recent Los Angeles Times article. The difference between the two relates to the difference between social goods and private goods.