Eliot wrote: “After all, your pigs are far more intelligent than the other animals, and therefore the best qualified to run the farm – in fact there couldn’t have been an Animal Farm at all without them: so that what was needed (someone might argue) was not more communism but more public-spirited pigs.”Now comes Evolving Excellence, with a dissenting view.
The fox responsible for keeping an eye on the Wall Street hen house is the [Securities and Exchange Commission]. Let's take a look at their history:
Bill Clinton (Georgetown, Oxford, Yale) appoints Arthur Levitt (Williams College - an elite private school in Massachusetts) who presides over the Enron debacle. Levitt is succeeded by Paul Carey (Colgate). George W Bush (Yale, Harvard) takes over and appoints Harvey Pitt (St Johns), followed by William Donaldson (Yale, Harvard). When their collective deregulation of investment banking gives us the Bear Stearns fiasco, we get Christopher Cox (Harvard MBA and Harvard Law). And of course we have a complete meltdown of the capital markets as described previously. Now we have Barack Obama (Columbia, Harvard) who has put Mary Schapiro at the helm (Franklin & Marshall College, George Washington). Yeah - I know that these are not all Ivy League, but $50K a year to go rub elbows with the elite at Franklin & Marshall or Williams College assures that you are a member of the same country club as the boys and girls at Harvard and Yale.
Notice a pattern here?
Probably, but I've noticed that morons think alike too. In fact, people with similar backgrounds and experiences tend to think the same, no matter what. So when a few of these eggheads get the notion that lean is just some factory fad, that outsourcing everything to China is a marvelous thing, that the Dow Jones is the only measure of the economy that matters, and that manufacturing is for the ignorant masses and that service is where the real future lies - in short, they all drink the same 'world is flat kool-aid' - well it really doesn't matter how much common sense to the contrary is coming from the heartland - NO ONE IS LISTENING! If you are in D.C. the only voices you hear are from the guys who sat next to you in the same college lectures, belong to the same tennis club you do, and drink the same brand of scotch you do at the same private club you belong to in Manhattan.I've seen business fads come, and come a cropper. Meanwhile the self-referential behavior goes on.
So that's the problem. We keep copying the Harvard gene over and over again, while the rest of us members of the Great American diploid organism - the ploid trying to re-eneregize manufacturing with common sense - are increasingly marginalized.Thus for the serious analysis. Iowahawk offers the same message, in a lighter form.
I'm tempted to leave the video in the Tail Track, although I have other plans for that.