"IMF admits wilting under Brown Treasury" is the title of an article in today's Financial Times. The Fund's independent watchdog has drawn attention to the UK Treasury's pressuring of IMF officials to tone down adverse interpretations of Britain's economic and financial data and regulation in the run-up to the banking crisis, during Gordon Brown's tenure as chancellor and when Ed Balls "was a key figure". Now there's a surprise !
The watchdog's report concludes, according to the FT, that "in future the Fund should seek contrarian views and be less concerned about crying wolf".
This is an important message not just for the IMF, but for many other institutions in this country and elsewhere. The rise of "The Monstrous Regiment of Yes-People" was one of the defining features of corporate culture - private and public - during 2000s decade. Contrarian voices were generally ostracised, or belittled. Hopefully, this "Yes-People Culture" is now in decline, but I'd advise a cautionary approach to any news of its demise. Watch this space !
No comments:
Post a Comment