<?xml version="1.0" encoding="UTF-8"?><rss version="2.0"
	xmlns:content="http://purl.org/rss/1.0/modules/content/"
	xmlns:dc="http://purl.org/dc/elements/1.1/"
	xmlns:atom="http://www.w3.org/2005/Atom"
	xmlns:sy="http://purl.org/rss/1.0/modules/syndication/"
		>
<channel>
	<title>Comments on: &#8220;Uncertainty Management&#8221;</title>
	<atom:link href="http://chicagoboyz.net/archives/6564.html/feed" rel="self" type="application/rss+xml" />
	<link>http://chicagoboyz.net/archives/6564.html</link>
	<description>Some Chicago Boyz know each other from student days at the University of Chicago. Others are Chicago boys in spirit. The blog name is also intended as a good-humored gesture of admiration for distinguished Chicago boys including those pictured above.</description>
	<lastBuildDate>Sun, 21 Mar 2010 15:49:36 -0400</lastBuildDate>
	<generator>http://wordpress.org/?v=2.8.4</generator>
	<sy:updatePeriod>hourly</sy:updatePeriod>
	<sy:updateFrequency>1</sy:updateFrequency>
		<item>
		<title>By: Stephen Houghton</title>
		<link>http://chicagoboyz.net/archives/6564.html/comment-page-1#comment-288414</link>
		<dc:creator>Stephen Houghton</dc:creator>
		<pubDate>Wed, 31 Dec 2008 18:40:16 +0000</pubDate>
		<guid isPermaLink="false">http://chicagoboyz.net/?p=6564#comment-288414</guid>
		<description>A major problem is the ending of the partnership form on wall street and its replacement by the corporation. That gives senior management less incentive to keep a close eye on what is going on. Ask anyone who has been around the street for a long time about how partners were back in the day (when the partners were liable for the partnership&#039;s debts) and they will tell you the partners were on them like stink on shit.</description>
		<content:encoded><![CDATA[<p>A major problem is the ending of the partnership form on wall street and its replacement by the corporation. That gives senior management less incentive to keep a close eye on what is going on. Ask anyone who has been around the street for a long time about how partners were back in the day (when the partners were liable for the partnership&#8217;s debts) and they will tell you the partners were on them like stink on shit.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: sol vason</title>
		<link>http://chicagoboyz.net/archives/6564.html/comment-page-1#comment-288343</link>
		<dc:creator>sol vason</dc:creator>
		<pubDate>Wed, 31 Dec 2008 05:21:22 +0000</pubDate>
		<guid isPermaLink="false">http://chicagoboyz.net/?p=6564#comment-288343</guid>
		<description>Shannon Love said “The movement of money allows people to communicate to one another the value they place on different economic activities.” Obama&#039;s Keynesian error.

In small businesses these valuations comes through loud and clear.  In big businesses it is easy to never notice that values have changed until the company suddenly runs out of money and credit.  Government never heeds changing valuations.  It assumes it can dictate values.  Governments would rather destroy an economy than be governed by its changing valuations.  It is a matter of sovereignty.  This is why little, ineffective governments are best.

Military organizations survive only if they can immediately detect changes on the battle field. Integrity has military value.</description>
		<content:encoded><![CDATA[<p>Shannon Love said “The movement of money allows people to communicate to one another the value they place on different economic activities.” Obama&#8217;s Keynesian error.</p>
<p>In small businesses these valuations comes through loud and clear.  In big businesses it is easy to never notice that values have changed until the company suddenly runs out of money and credit.  Government never heeds changing valuations.  It assumes it can dictate values.  Governments would rather destroy an economy than be governed by its changing valuations.  It is a matter of sovereignty.  This is why little, ineffective governments are best.</p>
<p>Military organizations survive only if they can immediately detect changes on the battle field. Integrity has military value.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Shannon Love</title>
		<link>http://chicagoboyz.net/archives/6564.html/comment-page-1#comment-288312</link>
		<dc:creator>Shannon Love</dc:creator>
		<pubDate>Tue, 30 Dec 2008 22:40:45 +0000</pubDate>
		<guid isPermaLink="false">http://chicagoboyz.net/?p=6564#comment-288312</guid>
		<description>First, people who blame &quot;greed&quot; are simply stating that they have no idea what is going on. They might as well blame evil spirits. The idea that business people are uniquely greedy or that people who seek power are uniquely virtuous. is just childish. 

Second, I think accountability in large organizations becomes a problem because no one person has final say on any major decisions. Decisions result from broad compromises between numerous inputs. Even in a single organizations, dozens of people, if not hundreds of people contribute to the decisions. The average executive holds any particular office for less than four years. Organizationally failure usually take longer. 

Thirdly, an industry failure occurs due to decisions made in many different companies (and the government). People make decisions which work for their individual companies in isolation but in collectively they cause failure. Individual corporate officers can make the best decisions for their own companies but if everyone else makes he same decision for their companies problems ensue. 

The problem is even worse in government. Government by design has separation of powers which automatically means diffusion of responsibility. It is not as any particular member of congress is likely to lose their seat over this mess. Worse, the effects of bad decisions do not become widely evident until years later often long after the principles have left office.</description>
		<content:encoded><![CDATA[<p>First, people who blame &#8220;greed&#8221; are simply stating that they have no idea what is going on. They might as well blame evil spirits. The idea that business people are uniquely greedy or that people who seek power are uniquely virtuous. is just childish. </p>
<p>Second, I think accountability in large organizations becomes a problem because no one person has final say on any major decisions. Decisions result from broad compromises between numerous inputs. Even in a single organizations, dozens of people, if not hundreds of people contribute to the decisions. The average executive holds any particular office for less than four years. Organizationally failure usually take longer. </p>
<p>Thirdly, an industry failure occurs due to decisions made in many different companies (and the government). People make decisions which work for their individual companies in isolation but in collectively they cause failure. Individual corporate officers can make the best decisions for their own companies but if everyone else makes he same decision for their companies problems ensue. </p>
<p>The problem is even worse in government. Government by design has separation of powers which automatically means diffusion of responsibility. It is not as any particular member of congress is likely to lose their seat over this mess. Worse, the effects of bad decisions do not become widely evident until years later often long after the principles have left office.</p>
]]></content:encoded>
	</item>
</channel>
</rss>
