Of course, nobody at Goldman Sachs or any other large financial institution meant to wreck the economy. The United States military didn’t invade Iraq or Afghanistan thinking that one day its efforts would be mounted on a bewildering PowerPoint slide. The engineers who designed the BP oil platform that exploded and sank and produced one of the largest oil spills in history built it with multiple back-up systems.But complexity has a way of defeating good intentions. As we clean up these messes, there is no point in hoping for a new age of simplicity. The best we can do is hope the solutions are just complicated enough to work.
Sunday, May 02, 2010
An outstanding article in today's New York Times on complexity. They sum up: