Tag: Decisions

Prevarication and political posturing, the persistent incrementalism when bold actions are required and the readiness to oppose policies simply because they have been espoused by somebody else, are as characteristic of policy today as they have been for the past 50 years.

Commercial decisions often reflect policy-based evidence, not evidence-based policy. Doing the deal is what matters; justification comes afterwards.

A good checklist is selective – it doesn’t cover mistakes that are rarely made; no one goes on holiday without their suitcase. Or mistakes that don’t matter – toothpaste is available almost everywhere.

The argument that we need the best and latest is powerful in political decision making, even among people who would never behave that way in their everyday lives.

The only reasonable response to the question “what will interest rates be in 20 years’ time?” is “we simply do not know”.

We are not interested in whether companies make good or bad cost-benefit calculations. We are interested in what these calculations tell us about their values.

The idea that there is something called “the economy”, which is separable from the welfare of society and its citizens, is silly. There isn’t.

Gresham’s Law – bad money drives out good – dates from an era of metallic currency: debased coins circulated, genuine ones were hoarded.

The presidency of the French Republic is a job description written for one man – Charles de Gaulle – and no one else has since filled the post with much distinction.

When we make hiring decisions, or construct risk maps, or undertake investment appraisals we complete templates, the purpose of which is not to help us manage or decide but to rationalise what we already believe we know.