Thursday , March 4 2021
Home / John Cochrane - Grumpy Economist / Institutional culture

Institutional culture

Summary:
Arnold Kling has an intriguing series of blog posts on the nature of universities and other institutions that are, as he says, cancel-bait. I removed the cancel-bait part and pass on his observation on the shift in institutional culture, visible in universities but also in corporate and nonprofit institutions and in our politics. 1. The older culture ...

Topics:
John H. Cochrane considers the following as important: ,

This could be interesting, too:

John H. Cochrane writes r < g

John H. Cochrane writes Econtalk on virus

John H. Cochrane writes Lipson on basic decency

John H. Cochrane writes Vaccine math. 0 per shot?

Arnold Kling has an intriguing series of blog posts on the nature of universities and other institutions that are, as he says, cancel-bait. I removed the cancel-bait part and pass on his observation on the shift in institutional culture, visible in universities but also in corporate and nonprofit institutions and in our politics. 

1. The older culture saw differential rewards as just when based on performance. The newer culture sees differential rewards as unjust.

2. The older culture sought people who demonstrate the most competence. The newer culture seeks to nurture those who are at a disadvantage.

3. The older culture admires those who seek to stand out. The newer culture disdains such people.

4. The older culture uses proportional punishment that is predictable based on known rules. The newer culture suddenly turns against a target and permanently banishes the alleged violator, based on the latest moral fashions.

5. The older culture valued open debate. The newer culture seeks to curtail speech it regards as dangerous.

6. The older culture saw liberty as essential to a good society. The newer culture sees conformity as essential to a good society.

7. The older culture was oriented toward achievement. The newer culture is oriented toward safety. Hence, we cannot complete major construction projects, like bridges, as efficiently as we used to. 

Why? Well, he passes on a theory which I don't necessarily agree with, though I haven't read the cited book. The increasing politicization of all institutions of civil society is a different force that has a lot to do with the new culture. But the observations seem perceptive no matter what the reason. Academic economics certainly seems much more careerist than it used to be, more about who has what title and job than about who wrote what interesting new idea.  But maybe that perception is a sign of age. 

John H. Cochrane
In real life I'm a Senior Fellow of the Hoover Institution at Stanford. I was formerly a professor at the University of Chicago Booth School of Business. I'm also an adjunct scholar of the Cato Institute. I'm not really grumpy by the way!

Leave a Reply

Your email address will not be published. Required fields are marked *