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Archive for August, 2013

I’m not really sure why I read books about management theory. With the thought that forewarned is forearmed, I suppose. Anyway, here’s an interesting quote from Good Strategy / Bad Strategy: The difference and why it matters by Richard Rumelt (pp. 47-8):

The philosophy of the age [early 20th century], most fervently adopted by the French, was that willpower, spirit, morale, élan, and aggressiveness were the keys to success. For three years, generals flung highly motivated men at fortified machine-gun emplacements, only to see tens of thousands, then hundreds of thousands, shredded to mincemeat to gain a mile of useless ground.

[…]

At the Somme and Passchendaele, Haig led an entire generation of British and Dominion youths to their deaths—as Joseph Joffre did for the French at Somme, and Erich von Falkenheyn did for the Germans at Verdun.

In Europe, motivational speakers are not the staple of the management lecture circuit that they are in the United States, where the doctrine of leadership as motivation is alive and well. Here, for example, is H. Ross Perot: “Most people give up when they’re just about to achieve success. They quit on the one-yard line. They give up at the last minute of the game, one foot from the winning touchdown.”

Hearing this, many American nod in agreement. Many Europeans, by contrast, hear the echo of the “one last push” at Passchendaele.

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The other day I saw a rather alarming report produced by MoneyWeek magazine, entitled The End of Britain, predicting an imminent financial apocalypse. The claim was simple: over the past few decades the level of debt in the UK (private, corporate and government) had ballooned; that the only reason that this appeared sustainable was that interest rates were unusually low at the moment; and that as soon as they rose it would be curtains for Britain.
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