Republican Gov. Mike Huckabee's Inaugural Comments Announcing the Murphy Commission
July 16, 1996

Government should actually welcome the participation of citizens from the private sector. After all, if a government agency is doing all it can to run efficiently, it should be delighted to have others view its performance. A few months ago here in Arkansas, a non-partisan, independent, volunteer, citizens' task force was conceived. The Murphy Commission, led by El Dorado businessman Madison Murphy, has signed more than 100 professional and business leaders from throughout the state, who have committed to developing recommendations to streamline state government and make it more accountable. They will seek to examine the role and functions of state government including its structure and budgeting and spending process. This kind of partnership can create the synergy giving the private sector insight into the complexities of government and the public sector a chance to help solve problems. Earlier today, I issued a directive to our state agencies, instructing them to give the Murphy Commission access and assistance. This commission must be a team effort and present to1 me, the Legislature and the people of Arkansas practical ways to give our state the highest quality and most cost-effective government in America. The vast majority of our state's employees are dedicated public servants who want to do their jobs more efficiently and know how that can be accomplished. When the commission issues its report, I expect that people in the private sector will realize that most waste in the bureaucracy is the result of outdated and cumbersome systems and not personnel. When the recommendations become law, procedure and policy, we will be able to further reduce spending on the process and actually provide more useful service for the people.

Furthermore, I have issued today a directive to the Department of Finance and Administration to use cost-benefit analysis on all new programs and to continue the hiring freeze for state jobs. My office is asking every agency and department to carefully review the budget requests to look for every possible cost-saving measure before we begin the process of executive review in the coming weeks. Advocates for each existing program need to demonstrate its effectiveness.

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Journal Publications

'Regulation of financial derivatives in the U.S. code'
Derivatives Use, Trading and Regulation
(London, U.K.) Palgrave Macmillian Ltd.
February 2006
Read Online

'Deflation & Economic Growth'
(Piscataway, N.J.) Transaction Periodicals Consortium, Rutgers University
Summer 2006

Policy Foundation research on this topic cited by Arkansas Attorney General Mike Beebe (Opinion No. 2005-291)

'A review of state statutes regulating financial derivatives in the USA'
Pensions, an International Journal
(London, U.K.) Palgrave Macmillian Ltd.
Read Online