A great piece by ft.com on why companies that exist only to make profits fail.
Analysts at investment banks struggled to square this circle: they explained how the genius of men such as Ken Lay of Enron and Bernie Ebbers of WorldCom had changed the rules of the competitive game. Stalin's statisticians similarly recorded and applauded the heroic endeavours of individual Soviet workers such as Alexei Stakhanov, the apparently superhuman Siberian miner. They produced a rich tapestry of imaginary feats and bogus figures, like the shareholder value movement 50 years later.
Analysts at investment banks struggled to square this circle: they explained how the genius of men such as Ken Lay of Enron and Bernie Ebbers of WorldCom had changed the rules of the competitive game. Stalin's statisticians similarly recorded and applauded the heroic endeavours of individual Soviet workers such as Alexei Stakhanov, the apparently superhuman Siberian miner. They produced a rich tapestry of imaginary feats and bogus figures, like the shareholder value movement 50 years later.
posted by Champion at 9:36 PM
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