Ep. 1145: Good Morning Vietnam with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Pathology of Managerialism
In order to manage a company, you don't really need depth of experience that would develop your judgment over time. What you need is a mastery of certain managerial tools. And those tools are content neutral, that is to say, they're quantitative. So the propensity is to increase profits short term by cutting back on R&D, cutting back on staff and so on in a way that's often demoralizing for people in the organization. But it's bad for the long term productivity of the company, of the university and of the economy as a whole.
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