wWrong

From : The Wall Street Journal


Photo :http://online.wsj.com

The Openness Elixir
In the marketplace of ideas, progress depends on freedom—and the expectation of error.








The word "slick" did not come to mind as Tony Hayward, the embattled chief executive of BP, foundered in a sea of congressional questioning this week. Never in the face of righteous political indignation did expertise look so unconvincing and so unworthy of its status. But in many respects Mr. Hayward and BP were simply unlucky: They were caught out by an event they didn't think would happen and then compounded the problem by sounding clueless when asked to explain what went wrong or how they would fix it.
Excerpt From 'Wrong'


As David H. Freedman notes in "Wrong: Why Experts Keep Failing Us—And How to Know When Not to Trust Them," such cluelessness is all too common in our expert-mediated world. Look at all those economists who failed to predict the great crash of 2008 or the rating agencies whose metrics melted into mere wishful thinking. Realtors, who are supposed to know more than you or I about the housing market, predicted housing prices would trend up for 2008. Experts, schmexperts.





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