jerryking + businessman_fallacy   3

Trump, Kushner and the businessman fallacy
Simon Kuper MARCH 8, 2018
The “businessman fallacy” — the notion that a rich businessman (never a woman) can run government better than a mere politician — is Donald Trump’s basic promise. That’s why the combustion of his son-in-law, fellow real-estate heir and senior adviser Jared Kushner — whose business dealings in the White House scream conflict of interest — is so telling. Kushner incarnates the businessman fallacy.......The businessman-turned-politician is often blinded by hubris. This usually stems from the “money delusion”: the idea that life is a race to make money, and that rich people (“winners”) therefore possess special wisdom.

Many businessmen imagine they pulled themselves up by the bootstraps in a free market, something that more people could do if only there was “less government in business”. This self-image usually omits context: the fact, say, that the businessman’s father built the company (before being jailed on a ridiculous technicality) or that government enforced his contracts and schooled his employees.....Rich Americans tend to feel contempt for politicians because they have learnt to treat them as lowly service providers who will sit up and beg for donations.
self-imagery  Simon_Kuper  Donald_Trump  Jared_Kushner  nepotism  White_House  conflicts_of_interest  oversimplification  privately_held_companies  family-owned_businesses  hubris  generalists  businessman_fallacy  heirs 
march 2018 by jerryking
What is good for a business isn’t necessarily good for the country
Aug. 27 2013 | The Globe and Mail |CHRISTOPHER RAGAN
...Most non-economists probably think economics and business are the same. But anyone who has studied economics knows they are very different. Having done so for about 30 years, I am very comfortable thinking about how markets work, how they often fail to function effectively and how various government policies affect their operation. But I readily admit to having no expertise about product development, marketing campaigns, distribution networks or managing employees.

I only wish more business people admitted to having the opposite ignorance. People successful in their businesses obviously know a lot about running their own companies and dealing with their unique competitive challenges. But many of them believe their business acumen extends to the broader economy. They suffer from the misconception that what is good for their business is good for the country as a whole. And this is where they are terribly wrong.... Adam Smith was crystal clear about business interests, writing in 1776 that “people of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.”...Fortunately for us, [James Moore] understands the difference between business interests and the national interest.
Adam_Smith  business_acumen  business_interests  businessman_fallacy  delusions  economics  humility  misconceptions  marketing  national_interests  policymaking  pro-business  product_development  rent-seeking  self-interest 
november 2013 by jerryking
Maybe corporate guys should mind their business
November 17, 2001 | G&M |Russell Smith

http://www.theglobeandmail.com/arts/maybe-corporate-guys-should-mind-their-business/article1034666/

https://docs.google.com/document/d/1FOmbxn4lK9kAF2nPKH151NSwTik0aFKNGvxX8OSIY6k/edit

Business people should be way more humble and not act as know-it-alls when dealing with artists and academics.....A blind faith in the efficiency of commerce goes hand in hand with a faith in technology.
Russell_Smith  public_speaking  businessman_fallacy  platitudes  critical_thinking  hubris  skepticism  contrarians  speeches  artists  academics  sponsorships  humility 
march 2013 by jerryking

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