I didn't see this, so I'm resending it.  Apologies if others had:

-----Original Message-----
From: brin-l-boun...@mccmedia.com [mailto:brin-l-boun...@mccmedia.com] On
Behalf Of John Williams
Sent: Tuesday, November 20, 2012 3:42 PM
To: zwil...@zwilnik.com; Killer Bs (David Brin et al) Discussion
Subject: Re: Where to now?

On Tue, Nov 20, 2012 at 1:27 PM, Kevin O'Brien <zwil...@zwilnik.com> wrote:

> OK, I'm not at all clear on how you got "top-down" management out of 
> what I said.

>I'm getting tired of correcting all this nonsense, but I thought I'd
respond to this at least. 
>You are the one claiming you know better how to allocate resources than 
>the millions of people who are >currently handling it themselves. If that
is not an attempt at top-down management, then I don't know what is.

Oh, I know the answer to this one, as do most ecconomists and business
school faculty.  You change the regulations of the parasites on Wall Street
so they can't have leverage more than 40-1, can't hide toxic assents, can't
pay off folks who assign ratings to give junk bonds AAA status, and can't be
so big that they'll cause the whole system to crash if they fail. Don't you
remember what happened when Melon followed your suggestions.  The name of it
is "The Great Depression", as I've been reminded by my buddy at HBS. The
Great Recession is not so bad, compared to this.  And, it's been shown that
filtered leaders are easily replaced and do not add much value.  The
analysis involved includes calculations that rigorously show a 4000 to 1
odds of the results being due to random fluctuations.  And, they are very
robust. You should read more.

Dan M. 


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