Tuesday, November 25, 2008
Monday, November 24, 2008
My Dear Barack,
Have you wondered why Congress was so quick to provide a $700 billion bailout for the financial industry, yet is dragging its feet over a bailout for the auto industry? The reason is quite simple.
Cynl Northcote Parkinson did more than posit Parkinson’s Law, which states that work expands to fill the time available for its consumption, along with its corollary that bureaucracies expand regardless of utility or need.
He also gave the example of a board of directors faced with two decisions: the building of a multimillion dam, and the purchase of a $29.95 coffee machine. According to Parkinson, the decision on the dam will be made in minutes, while the decision on the coffee machine will involve hours of debate. The reason is simple: nobody knows a damn thing about dams, but everyone is an expert on making coffee.
To comment on what you know nothing about is to display your ignorance. Hence, it is much better to nod knowingly and approve it since voting against it would require an explanation, and it’s hard to explain what you don’t understand in the first place.
Congress was asked to bail out a financial industry even financial experts don’t understand. So it approved it. Unfortunately for General Motors, everyone understands cars, so its request was doomed to fail.
Have you wondered why Congress was so quick to provide a $700 billion bailout for the financial industry, yet is dragging its feet over a bailout for the auto industry? The reason is quite simple.
Cynl Northcote Parkinson did more than posit Parkinson’s Law, which states that work expands to fill the time available for its consumption, along with its corollary that bureaucracies expand regardless of utility or need.
He also gave the example of a board of directors faced with two decisions: the building of a multimillion dam, and the purchase of a $29.95 coffee machine. According to Parkinson, the decision on the dam will be made in minutes, while the decision on the coffee machine will involve hours of debate. The reason is simple: nobody knows a damn thing about dams, but everyone is an expert on making coffee.
To comment on what you know nothing about is to display your ignorance. Hence, it is much better to nod knowingly and approve it since voting against it would require an explanation, and it’s hard to explain what you don’t understand in the first place.
Congress was asked to bail out a financial industry even financial experts don’t understand. So it approved it. Unfortunately for General Motors, everyone understands cars, so its request was doomed to fail.
LIFTED DIRECT FROM THE ARISTROCRATS BLOG
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