Wisdom Lost Out to Theory

Posted in Blog at 11:38 pm

During the last two decades, American business led the world to a clear preference for theory over experience. Nowhere was this more in evidence than in the financial services industry. The U.S., one of whose most iconic industrialists famously defined history as "Bunk," had always believed as a nation that a bright new idea could trump the accumulated wisdom of centuries. But this tendency was always partially offset by the conservative influence of the older and more experienced leaders who Read more [...]