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From Governing Magazine – By Raj Sharma

We talk a lot about “procurement reform.” Instead, we should be looking at government purchasing through the lens of economics and how markets really work.

There is plenty of consensus that government procurement needs a lot of fixing. But do we know the magnitude of the impact when government purchasing doesn’t work? Or what to do about it?

Governments at all levels spend almost $2 trillion in the United States and $8 trillion globally. How those funds are used, though, is perhaps more important than how much money is spent. Governments spend money to deal with some of our most critical challenges — from education to health care to national security to infrastructure and waste management — and provide many services that affect us every day. When not done right, we all feel the impact.

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