Quote:
Originally Posted by Crowbob
If the machine called the economy requires coordination who was coordinating the economy prior to COVID-19?
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It was in a steady state with the normal market feedback mechanisms and processes, if you read Ackoff's work on systems thinking, his work shows that in dynamic times, the gears do not mesh as well and things slip so you need to temporarily substitute for those feedback mechanisms to avoid further ripple effects down the chain.
For example....
All the major consulting companies have instituted work at home rules so their staff do not fly in to their clients. Say they believe that it is now safe to do so, but the airlines decide it is not.
Client's say WTF, where are your people....we have a contract with you for workers and we are now working, bring your people in.
Consulting companies say, not our fault, we are ready to go, but it's the airline's fault, call it force majeure.
Client says, not our problem, find the means....bus 'em in if you have to, get them here and then have them camp out here until the airlines are running again.
Can you spell "litigation".
Way out of it is for government (and it pains me to say this) needs to speak to consulting companies, speak to airlines, speak to clients and say its time to get back to work. On monday the airlines fly their pre-corona schedule and NO price gouging or we'll penalize you.
Everyone goes back to work. Trouble is, I have zero faith in government to either have the cojones or brainpower to even attempt any sort of coordination, in part as they legitimately fear they are wrong and people get sick after it was "supposed" to be over and blame them.
Also I have zero faith that the governments in many lands will withdraw once the economy gets ticking along, their tendencies to meddle are well proven and proven to be usually not effective or efficient.
But that is just my $0.02
Dennis