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The Cost of Prudence
Bureaucracy kills innovation.We all know that.But why?Partly, it’s because bureaucracy grows out of prudence, a desire not to repeat the mistakes of the past.With the current economic crisis, for example, you can be sure that a lot more checks will be put into place—both in Washington and in corporate boardrooms—to prevent the excesses that got us into this situation from happening again.Governments and corporations alike react to crises by implementing more rules and regulations.
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