Browsing All Posts published on »November 18th, 2008«

Coaches and Deck Chairs

November 18, 2008 by


What is the value of a manager or coach? Adam Smith argued (in An Inquiry into the Nature and Causes of the Wealth of Nations, published in 1776) that daily operations of a firm are run by “principal clerks” and such clerks are essentially homogenous.  Or as Smith put it “their labour of inspection and […]