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The growth of firms is fundamentally based on selfreinforcing feedback loops, one of the most important of which involves cash flow.When profit margin is positive, sales generate cash, which may then be reinvested to finance the operating cash cycle.We analyze simulations of a sustainable growth model of a generic new venture to assess the importance of taxes, and regulatory costs in determining growth.The results suggest that new ventures are particularly vulnerable to public policy effects, since their working capital resource levels are minimal, and they have few options to raise external funds necessary to fuel their initial operating cash cycles.Clearly, this has potential consequences in terms of gaining competitive advantage from experience effects, word of mouth, scale economies, etc. The results of this work suggest that system dynamics models may provide public policy-makers a cost-effective means to meet the spirit of the U.S. Regulatory Flexibility Act

The year 2020 is an epochal moment for governance and public administration. The outbreak of the COVID-19 pandemic has upset social and economic life, including the delivery of public services, and eroded domestic and international politics. It comes in an era of uncertainty resulting from the end of the New Public Management boom and a looming breakdown of the contemporary US-defined international order. Against such a sea change, we can hardly take business as usual. Change breeds indeterminacy but also induces reimagining. Any renewal and renaissance of public management has to address the ‘what’ and ‘how’ questions of governance in a low-trust and high-risk society. Both the capacity and legitimacy of the state need to be re-empowered, but no longer through the market. The dual failure of democratic politics and bureaucratic excellence in many countries has rendered the Wilsonian politics-administration dichotomy redundant. Amid the rise of East Asia, there are growing contentions over the conceptualization of meritocracy as alternative systems of governance and public service models seem to be delivering effective rivals. Governance performance may not be predetermined by regime types within a poly-polar world. We need to search for new reconnections, new leadership, a new basis for trust and consensus, and a new public service bargain to avoid getting bogged down in old wine in re-labelled bottle, or another singular universalist paradigm.