People surely don't go into public service for the payday.
So they do it because they're selfless?
Some do. Some do because they're more interested in job security than a huge payday. The point is, they're not like these corporate raiders who will sometimes venture over to the public sector to help their pals make a big payday.
I think there's some truth to that, but it wasn't really what I was driving at. Your earlier post said...
Careers in government are going to bring in people who end up looking at all sides of the issue and balance the concerns. Bring in people from the private sector is going to result in the agencies issuing and overturning regulations, whichever is relevant toward the goal, to help out their corporate buddies.
My point was that not all people who work in the public sector do so purely because they want to spend their careers being visibly even handed. Everyone has an agenda, whether they admit to it or not, and having 20 years' public sector experience does not necessarily give one the ability to balance all the concerns.
The U.S. economy is, after all, built on capitalism, and the ability to balance the needs of business with the needs of society in general is a difficult talent to acquire.
That said, relying purely on the private sector for advice is dangerous as well. There are undoubtedly those who, after 20 years in one corporation or another, take a role in government and have sympathy for the views and needs of their former business partners. Indeed they may still have a financial interest in their former companies, whether that interest is evident (stock holding or stock options) or not. Does that make them any different from, say, a politician who feels pressure to grant a favor or two to the individuals or lobbyists to helped get him elected in the first place? I'd argue not.
In short, my concern is that writing off all private sector experience (as you appear to be doing - feel free to correct me if I'm misconstruing) because one has concerns about payback is as narrow a view as endorsing all public sector advisors as well-balanced, even-handed and competent to propose policy in isolation across the entire economic and political landscape.
If you make decisions about who to hire based solely on stereotypes then you shouldn't be running a lemonade stand, much less a government. Is Obama doing it that way? Who knows. But your comment about
"Bring in people from the private sector is going to result in the agencies issuing and overturning regulations, whichever is relevant toward the goal, to help out their corporate buddies" appears to indicate that you have some sympathy for that general angle on hiring policy.
It's early in the morning and I've fumbled this a bit, but I think my point is relatively clear, even if you don't agree with it.