Geoffrey Morton-Haworth_

WSJ: A Frightening Indictment of Our Society

The root of the problem lies in a "terrible simplification". We are not dealing with a simple system with just a few levers to pull and everything will come right.

I am a believer that the stock market behaves far more like a complex adaptive system than a simple mechanical system. It has the ability to leran in its parts and as a whole. It cannot be coerced. Market sentiment is an emergent property. And action top-down and from the centre is likely to have unintended and generally unwelcome consequences.

But how do you manage beasts like this?

Obama’s management style is the only way – listening, eliciting, working to know people better and to help them develop their own solutions, pulling not pushing, seducing not coercing.