👀 Ones to watch: Undervalued stocks to buy before they report Q3 earningsSee Undervalued Stocks

Our Crisis of Competence

Published 06/05/2024, 03:38 PM

That America is mired in a crisis of competence appears to be yet another issue that can't be addressed directly as it might upset the narrative control that all is well and everything is getting better in every way, every day.

And so we sugarcoat the incompetence, the endless delays, the sclerosis and the decline in quality and functionality as if these are all signs of rude, vibrant health rather than signs of systemic decline and decay.

Relatively straightforward infrastructure projects now face years or even a decade of delays / zero real-world progress. I can name several projects in my county where the environmental impact studies and various governmental reports have consumed six years, during which the harbor remains closed, the roads are unpaved gravel, the park is closed and the bridge is awaiting repairs.

When the public rightly complains of years of inaction and foot-dragging, local officials throw up their hands in frustration as all the necessary approvals and funding must wind their way through the impenetrable thickets of state and federal agencies, a leisurely process over which they have no control.

As for the private sector, I've often detailed the immense, systemic decline in the quality of everything from the ingredients in packaged food to "stainless steel", as well as the equally immense burden of unpaid "shadow work" demanded of us all just to manage the complexity thickets generated by "progress."

No wonder Cory Doctorow's descriptive ens**ttification is the "word of the year." More accurately, it's the word of the decade or the entire era.

Can we dredge up the wherewithal to be honest for a change, and admit that "can do" has decayed to "can't do", as everyone expresses their powerlessness to move anything along with any awareness that time and money are limited? We've reached a state of sclerosis in which near-zero actual progress is deemed not just acceptable but "the best we can do" for a variety of reasons.

One reason is the supremacy of process over results. The system incentivizes and rewards following process, no matter how senseless, inefficient or wasteful that process has become. Those who have mastered narrative control (i.e. "look how wonderfully we're following procedures") and avoidance of accountability for actual results are advanced, and those who chafe at the rank insensibility of over-regulation and processes that prioritize stakeholders' input to the point that nothing gets done are sent to bureaucratic Siberia or quit in disgust.

In this way, the system self-reinforces its most crippling weaknesses. 

A great many things are longer worth the frustration, and an even greater number of things are no longer worth the price being demanded. Once upon a time, before globalization (a.k.a. arbitraging lower labor costs and lower quality to increase profits) and financialization (a.k.a. the rich get richer by doing nothing) rose to domination, every product cycle delivered improved durability and utility. Now every product cycle delivers reduced durability and less utility, though this is obscured by a flood of "features" that degrade our experience.

Competence has been reduced to 1) increasing profits this quarter; 2) narrative control / social media visibility and 3) following process. If this is what passes for competence while we cheerlead "the Roaring 20s", then our delusion has reached what looks like a permanently high plateau.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.