Throughout his time as Governor of the Bank of England, I watched Mark Carney closely. He is a brilliant statesman but, alas, important parts of what he believes are wrong, including on investment.
...and "...bureaucratic management apart from those disciplines, governed by rules from a higher authority..." Trouble with that is in a world of unaccountable quangos these technocratic managerialist bureaucracies are free, nay encouraged by responsibility avoiding politicians, to set their own rules. There is no 'higher authority'. And their 'incentives' are clear. Keep the gravy train going. The trade-offs, in respect to the bureaucrats, is do that or they lose their reason to be.
Hi Steve. I'll take your word for it that Carney is indeed a brilliant guy.
However, as your article is strongly hinting, we have all had more than enough of brilliant people.
...and "...bureaucratic management apart from those disciplines, governed by rules from a higher authority..." Trouble with that is in a world of unaccountable quangos these technocratic managerialist bureaucracies are free, nay encouraged by responsibility avoiding politicians, to set their own rules. There is no 'higher authority'. And their 'incentives' are clear. Keep the gravy train going. The trade-offs, in respect to the bureaucrats, is do that or they lose their reason to be.
"He is a brilliant man and exceptionally difficult to argue with." Or, skilled at sophistry, aka lies.