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March 10, 2006


Hedge Fund Guy:

For over a hundred years we have been erecting policies and procedures designed to avoid human judgment, and to replace judgment with objective criteria that strive for neutrality and uniformity. But no system of law, nor any organizational system, no matter how brilliantly conceived, will function unless people have primacy over ultimate judgments ant every level of responsibility. Logical constructions too easily sever decisions from context. Only individuals make things work, applying their beliefs, instincts, and experience to applicable guidelines.

We need more discretion, compensated by more ability to hold government officials accountable by firing them without getting sued. Otherwise, government will continue to bumble in everything it does.

Spot on. The world’s simply too complex to have rules and regulations for each and every situation. Hire good people and let them get on with it.

March 10, 2006 in Economics | Permalink


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"It is impossible to design a system so perfect that no one needs to be good."

--T.S. Eliot, years and years ago.

Posted by: John Fembup | Mar 11, 2006 4:03:03 PM