Why do companies make terrible decisions? With Dan Davies

The Economics Show

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5M ago 32:29

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Modern industrial economies were made possible by automation and mass production, but also by something similar going on inside the world of management. Where once all the decisions were made by an identifiable boss, now they are farmed out to rule books, bureaucracies and computer algorithms — and nobody is individually accountable for them. The FT’s Andrew Hill speaks to Dan Davies, economist and author of The Unaccountability Machine, who explains how the industrialisation of management decision-making was inevitable in our increasingly complex world but has had unforeseen consequences, such as “accountability sinks” and the rise of populist politicians. Nonetheless, there are solutions, including AI, the 1950s management theory of cybernetics and the return of the much-maligned middle manager.

Andrew Hill is senior business writer at the Financial Times and consulting editor at FT Live. You can find his latest features and columns here, and enjoy his Big Read on the woes of America’s industrial giants here.

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Presented by Andrew Hill. Produced by Edith Rousselot and Laurence Knight. The editor is Bryant Urstadt. Manuela Saragosa is the executive producer. Audio mix and original music by Breen Turner. The FT’s head of audio is Cheryl Brumley.

Read a transcript of this episode on FT.com

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