A good friend had lent me some books several years earlier, which I had never opened because they looked difficult. He’d said at the time that there was only one really good treatment of the importance of information and feedback in social sciences, and that it was a shame that it had never caught on. I reached up to the top shelf and pulled down the first volume that my hand landed on. It was called Brain of the Firm, by Stafford Beer.

There are two obvious ways to fail here. The translation and error-correction mechanism might be inadequate, or the managers might intentionally distort the signals in order to follow priorities of their own. The tragedy of senior management is that it can drift into either of these failure modes without realising; if either problem arises, it arises in their information and communication environment, so they won’t notice it. It’s the problem identified by Niccolò Machiavelli — a prince who is not wise cannot be well advised, and a manager who doesn’t have access to excess analytical capacity won’t be able to tell when something has gone wrong with their subordinates. But maintaining that spare management capacity is expensive.

And this story repeats itself through the history of management science; almost every classic of the literature seems to have described a way of adapting systems to a more complicated world, and then to have become obsolete itself. If you look past the slogans and think about what things like ‘management by objectives’, ‘focus on core competences’ and so on actually mean, they are all different ways of advising executives to restructure their businesses so that they don’t generate complexity faster than it can be managed.

Flying Blind: The 737 MAX Tragedy and the Fall of Boeing by Peter Robinson (Penguin Business, 2021) is also an enthralling history of a massive accountability sink. I learned a huge amount from Gill Kernick’s Catastrophe and Systematic Change: Learning from Grenfell (London Publishing Partnership, 2021) about another case study in which interlocking systems combined to create a tragedy that couldn’t systematically be pinned on any single organisation, let alone an individual.

If you’re only familiar with the modern form of capitalism and management, it’s very worth reading As I See It (Prentice-Hall, 1976), the autobiography of J. Paul Getty, to see that things really did used to be different.