Why Government Can't Run A Business*

John Steele Gordon's column today in the Wall Street Journal on why government cannot by its nature run businesses efficiently is the best I've ever read. The piece requires very little commentary but if there is one fact to take away it's: 

Governments make political decisions whereas running a business requires sound economic decisions.

By all means read it all but here are the bullet points:

1) Governments are run by politicians, not businessmen.

2) Politicians need headlines.

3) Governments use other people's money.

4) Government does not tolerate competition.

5) Government enterprises are almost always monopolies and thus do not face competition at all.

6) Successful corporations are run by benevolent despots.

7) Government is regulated by government.