The Economics Show

Why do companies make terrible decisions? With Dan Davies


Listen Later

Modern industrial economies were made possible by automation and mass production, but also by something similar going on inside the world of management. Where once all the decisions were made by an identifiable boss, now they are farmed out to rule books, bureaucracies and computer algorithms — and nobody is individually accountable for them. The FT’s Andrew Hill speaks to Dan Davies, economist and author of The Unaccountability Machine, who explains how the industrialisation of management decision-making was inevitable in our increasingly complex world but has had unforeseen consequences, such as “accountability sinks” and the rise of populist politicians. Nonetheless, there are solutions, including AI, the 1950s management theory of cybernetics and the return of the much-maligned middle manager.


Andrew Hill is senior business writer at the Financial Times and consulting editor at FT Live. You can find his latest features and columns here, and enjoy his Big Read on the woes of America’s industrial giants here.


Subscribe to The Economics Show on Apple, Spotify, Pocket Casts or wherever you listen.


Presented by Andrew Hill. Produced by Edith Rousselot and Laurence Knight. The editor is Bryant Urstadt. Manuela Saragosa is the executive producer. Audio mix and original music by Breen Turner. The FT’s head of audio is Cheryl Brumley. 


Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

...more
View all episodesView all episodes
Download on the App Store

The Economics ShowBy Financial Times

  • 4.7
  • 4.7
  • 4.7
  • 4.7
  • 4.7

4.7

122 ratings


More shows like The Economics Show

View all
Economist Podcasts by The Economist

Economist Podcasts

4,178 Listeners

World Business Report by BBC World Service

World Business Report

302 Listeners

Money Clinic with Claer Barrett by Financial Times

Money Clinic with Claer Barrett

57 Listeners

Trumponomics by Bloomberg

Trumponomics

353 Listeners

Babbage from The Economist by The Economist

Babbage from The Economist

588 Listeners

Political Fix by Financial Times

Political Fix

144 Listeners

FT Tech Tonic by Financial Times

FT Tech Tonic

93 Listeners

Life and Art from FT Weekend by Financial Times

Life and Art from FT Weekend

199 Listeners

FT News Briefing by Financial Times

FT News Briefing

646 Listeners

Behind the Money by Financial Times

Behind the Money

227 Listeners

The Intelligence from The Economist by The Economist

The Intelligence from The Economist

2,551 Listeners

The World in Brief from The Economist by The Economist

The World in Brief from The Economist

1,075 Listeners

The Rachman Review by Financial Times

The Rachman Review

135 Listeners

Working It by Financial Times

Working It

38 Listeners

The Foreign Affairs Interview by Foreign Affairs Magazine

The Foreign Affairs Interview

461 Listeners

Untold: Toxic Legacy by Financial Times

Untold: Toxic Legacy

141 Listeners

Unhedged by Financial Times & Pushkin Industries

Unhedged

185 Listeners

Bloomberg Daybreak: Europe Edition by Bloomberg

Bloomberg Daybreak: Europe Edition

4 Listeners

Swamp Notes by Financial Times

Swamp Notes

31 Listeners