In Your Face, MBAs! Pt. III
When I came across this recent ChangeThis Manifesto, I just had to smile, as it dovetails so neatly with this week’s other posts.
Ending the Illusion of Control notes “the dismal historical track record of much, if not most, economic forecasting”.
Planning and forecasting have their place. Unfortunately, they are wrought with uncertainty. Making matters worse is the fact that “humans, driven by over-optimism and wishful thinking, often underestimate uncertainty even more than statistical models do”.
The authors assert that forecasts can be as addicting and dangerous as cigarettes and, therefore, should have warning labels.
Nice.
