10 October 2008

The experts aren't in control

There are worrying parallels between the world's financial situation and the global environment. Both are complex systems that are deregulated in the sense that people can do what they want to them with few real controls, and everyone has to live with the consequences because (1) there are so many of us and (2) their failure affects everyone. Traditional management systems that took centuries to evolve and were based on trust, loyalty, and morality have all gone out of the window. The current sentiment is to do what you can for yourself, try to stay within the law, and externalise the negative impacts. That mentality has always been around, but in the past the damage it could do was more limited.

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