Home Tags Advantage
Obtaining better information about companies is essential to the efficiency of markets and society: obtaining it fractionally earlier is of no public value at all.
The dispersion of productivity among already rich countries has increased. Norway and Switzerland have surged ahead but laggards such as Italy – and indeed Britain – have struggled to keep up with the pack.
Ethics are about what to do when good behaviour and profitable business are not necessarily the same thing.
British technological failures have been compounded by a political phenomenon I have come to think of as “great leap forward syndrome”. The idea is that the best way to compensate for stumbles and missteps is to move, at one bound, ahead of the field.
Modern life involves complex and multidimensional products. It is perhaps inevitable that price structures appear similarly complex and multidimensional.
Humans have always found it hard to cope with the idea that every individual has a lifespan even as life itself goes on. The idea of a natural life cycle for a business, or industrial centre, is even more difficult to accept.
Most people have little time or energy to devote to politics, which enables small groups with a strong commercial, personal or ideological motivation to exert disproportionate influence.
Why do we devote more resources to training carrier pigeons and building fibreoptic links than to understanding military and business strategy?
What is important in billiards is the result, not the play: and what matters in business and finance is the outcome, not the process. In business and finance, as in billiards, the imperfections are critical and you can anticipate the result, or understand the outcome, only by appreciating these imperfections.