"There can be few fields of human endeavour in which history counts for so little as in the world of finance." — J.K. Galbraith A recent podcast guest (The CIO Chair) guest suggested reading "The Great Crash 1929" by John Kenneth Galbraith. This is a finance classic written in 1955 and chronicles the actors and actions of the Wall Street Crash. It is hard not to see the parallels with the exuberance we are living through. This week's blog is about the stories we tell ourselve

"Reason is and ought only to be the slave of the passions." — David Hume When I started writing about decision-making 163 blogs ago, I started from the perspective that we reach our views through a mostly “rational” process. We gather evidence then weigh it, apply challenge to it, and only then conclude. Emotions were a fly in the ointment that we should acknowledge and weigh. I no longer believe it is done that way, or for most decisions, especially for contentious, high s

“There is always a well-known solution to every human problem—neat, plausible, and wrong.” - H. L. Mencken We are now near enough 10 years post the Brexit referendum. Brexit was a rare act of direct democracy and its intention to solve, once and for all the "European question" in hindsight has ended up creating more polarisation and not helped stem the loss of trust in political institutions. I remember the day vividly. Nigel Farage, based on early polling suggesting a narrow

We venerate the Magna Carta and the rights enshrined by the US Constitution, but rarely do we consider what they rest on. When smaller groups of people acted as tribes or villages, the rules were made clear by constant enforcement but also within a framework of expectations on people i.e. responsibilities. As villages have grown into mega-cities and governments influence the lives of people from a great distance, we have become fluent in rights but less fluent in responsibili