Systemic Thinking

Some days ago I read this article about how the credit crunch was explained to the Queen by a “group of eminent economics” (whatever that means).

The interesting part in my opinion is this paragraph, which was contained in the letter sent to the Queen:

“Everyone seemed to be doing their own job properly on its own merit. And according to standard measures of success, they were often doing it well,” they say. “The failure was to see how collectively this added up to a series of interconnected imbalances over which no single authority had jurisdiction.”

If that doesn’t make people believe in systemic thinking, I think this might be a lost cause : )

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