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Tenth law of worker entropy: Difference between revisions
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{{A| | {{A|devil|}}Of any [[agency problem|agent]], the point at which {{sex|her}} immediate concern — making enough of an intervention to convey an air of {{sex|her}} own indispensability — is eclipsed by someone else's. Especially if that someone else is also an [[agent]] in the service of the same [[principal]], and extra-specially where that [[principal]], by dint of its legal personality|corporate personality]] or its [[ultimate client|great remove from the details of the matter at hand]] is in no position to assert its own view of what is in it best interests. | ||
This amounts to a kind of | This amounts to a kind of “honour amongst thieves”. | ||
As we have remarked [[look, I tried|elsewhere]], much of the [[financial services]] industry consists in [[agent]]s of one stripe or another extracting a livelihood from the transit between them of a parcel — typically, millions of little parcels — owned by someone else. | As we have remarked [[look, I tried|elsewhere]], much of the [[financial services]] industry consists in [[agent]]s of one stripe or another extracting a livelihood from the transit between them of a parcel — typically, millions of little parcels — owned by someone else. | ||
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Each parcel’s owner, a principal, has for one reason or another little capacity to observe or intervene in this game, but participates in it all the same because of perceived historical tendency of the parcels to rise in value over time at a greater rate than the general rate of agent-inflicted atrophy. Not always — as unit holders in [[Fairfield Sentry]] would no doubt a test — but nonetheless generally. As a rule, over the the whole run of western civilisation, the tide has risen and lifted all boats upon it, even though each one has sprung they a little leak. | Each parcel’s owner, a principal, has for one reason or another little capacity to observe or intervene in this game, but participates in it all the same because of perceived historical tendency of the parcels to rise in value over time at a greater rate than the general rate of agent-inflicted atrophy. Not always — as unit holders in [[Fairfield Sentry]] would no doubt a test — but nonetheless generally. As a rule, over the the whole run of western civilisation, the tide has risen and lifted all boats upon it, even though each one has sprung they a little leak. | ||
So, the [[care horizon]], and honour | So, the [[care horizon]], and honour amongst thieves. The [[JC]]'s [[tenth law of worker entropy]] which we will call the [[rule of collective agency]] is this: {{maxim|I will allow you your pedantry as long as you grant me mine.}} It is bad form to impinge on another agent’s reasonable aspiration to [[rent-seeking|extract rent]]. | ||
Modern management has evolved to suit, with the separate agents separated and [[silo]]ed into to areas of sole competence such that one “officious” [[agent]] has no standing over the the domain of another. | |||
A lawyer cannot, even if he wants to, overrule a credit officers in assistance on on cross default in a overnight financing agreement. He may even get in trouble for trying. | A lawyer cannot, even if he wants to, overrule a credit officers in assistance on on cross default in a overnight financing agreement. He may even get in trouble for trying. | ||