A Healthy Slow

A Thinking Man
(Photo by Wesley Nitsckie) (CC BY) (Resized/Cropped)
A recent Wall Street Journal article notes how companies like Visa are trying to be innovative by turning away from outside consultants to in-house engineers. As we make the rounds, the indications are: this is not the way to go.
A few years back, psychologist Paul Rozin and his colleagues at the University of Pennsylvania ran a test where participants were asked to put labels on two identical bowls of sugar (“sucrose” or “sodium cyanide” [poison]). After labeling the bowls, most participants were reluctant to use sugar from the one that they had labeled poison. Their intuition was so powerful that it guided what they knew was irrational behavior.
Daniel Kahneman described this tendency in his book “Thinking, Fast and Slow.” We have two modes of processing information. A “fast system” is intuitive and quickly generates impressions and judgments. A “slow system” operates in a deliberate manner. It is responsible for overriding the fast system when it detects an error. But Rozin’s work indicates the slow system doesn’t always behave this way.
When people pause to reflect on the fact that their superstitious intuitions are irrational, the slow system can actually persist in its belief. Detecting an error does not necessarily lead people to correct it. Worse, sometimes the slow system exacerbates the problem by doubling down on its error, generating reasons for its behavior. The problem is the individual (or company) is trying to operate “slow” and “fast” systems without the aid of an outside voice.
We do indeed have a “dual system” to detect and correct errors. But Iain McGilchrist’s research (“The Master and His Emissary”) reminds us that when individuals assume they can, on their own, operate both equally well, they’re mistaken. Same goes for companies. When organizations assume they can detect and correct errors with only in-house folks, they’re mistaken. It’s indicative of how the left hemisphere thinks, however. It tends to be unduly confident in its assessments and resistant to correction. Scripture says wisdom requires many counselors, outside voices. They’re the better “slow system.” Innovation is more likely when in-house leaders collaborate with outside consultants.
Mike Metzger posts on DoggieHeadTilt.
Dr. Michael Metzger is the Founder and President of Clapham Institute (www.claphaminstitute.org), based in Annapolis, Maryland. In 2010, Clapham Institute published Metzger’s book, SEQUENCING: DECIPHERING YOUR COMPANY’S DNA. Metzger has had more than 50 articles published in periodicals. He also reframes the role of religion in public life in a weekly column (www.doggieheadtilt.com). He and his wife Kathy live in historic Annapolis, Maryland. They have three adult children—all married—and three wonderful granddaughters.
Trending Now on Affluent Christian Investor
Sorry. No data so far.
The Affluent Mix
Biden Oblivious To Illegal Immigration Issues... August 2, 2021 | Frank Vernuccio

Rob Arnott On Bubbles, Inflation, And Once-In-A-Generation Investment Opportunit... August 2, 2021 | Jerry Bowyer

The Federal Reserve’s Massive Theft Of Stability... August 2, 2021 | Jim Huntzinger

What To Do About This Difficult Market? August 2, 2021 | David Bahnsen

Letter On The Politicization Of Corporations... July 26, 2021 | Jerry Bowyer

Peak Of The Fake Bull Market July 26, 2021 | Michael Pento

Woodrow Wilson’s Administrative State vs. Gold... July 26, 2021 | Jim Huntzinger

Dividends, Energy, And Crypto July 26, 2021 | David Bahnsen

Whose Side Are You On? July 26, 2021 | Frank Vernuccio

Media, Left Ignore These Dangers July 19, 2021 | Frank Vernuccio

Mark Skousen On FreedomFest And How To Measure The Whole Economy... July 19, 2021 | Jerry Bowyer

Quantifying The Quantitative, Or Making Easy The Easing... July 19, 2021 | David Bahnsen

The Gold Standard Means A Rising Standard Of Living... July 19, 2021 | Jim Huntzinger

Book Review: Brian Domitrovic Reveals The Monetary Genius Of Arthur Laffer... July 19, 2021 | John Tamny

Steve Forbes: Time To Worry About Inflation, Not Hyperinflation... July 12, 2021 | Jerry Bowyer

UFOs Rescue Biden July 12, 2021 | Frank Vernuccio

Read This Classical Economist’s 200 Year Old Warning About Paper Money... July 12, 2021 | Jim Huntzinger

How Central Banks Murdered The Markets July 12, 2021 | Michael Pento

Everything There Is To Know About The Stock Market... July 12, 2021 | David Bahnsen

AT&T CEO: We’re Ill Equipped For Politics, And We’re Spending A Lot Of ... July 6, 2021 | Jerry Bowyer

Internet Bias Distorts National Conversation... July 6, 2021 | Frank Vernuccio

The Halfway Point Of 2021 July 6, 2021 | David Bahnsen

Join the conversation!
We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse.