Like many nonfiction business books of this ilk it seems to be a good idea stretched out too long. The problem is that it is an impossible task. I learned Tina Fey's rule for dealing with eccentric comedians. There is certainly more here than a magazine article but the book does end up being a little long and repetitive. A new start is needed, one that does not have as its mission preserving from constitutional attack as much of the regulatory state as possible. A pretty straightforward read with many good ideas to extract. Shoot-from-the-hip rules typically overweigh recent experience, reflect personal biases, and ignore anomalous data.
When time is short and information is either overabundant or scarce, simple rules can make decisions quickly. Jhering maintained that the assertion of rights was essential to the development of law; thus, legal battles were to be desired rather than shunned. Many people believe that complex problems require complex decision-making models. Epstein's relentlessly logical arguments tell us why we should return to the tried-and-true rules of the common law. The greater the number of goods and services in the economy, the better it is to have fewer classifications and rates.
The authors seem to think that everyone likes a story. It is bracing to undergo a cold bath in the pure doctrine of the simple rules, and in many areas they will give us some practical guidance. Use rules to make decisions, and only have a few of them. Coordination rules center on getting something done when multiple actors— people, organizations, or nations— have to work together. Almost too vague to be very helpful.
Faced with a war on two fronts, can it survive? When the individuals and firms are so different, is it fair to treat them equally? One frontline employee came up with the idea of increasing the size of fuel tanks to lengthen the distance engines could go without refueling, which sharply reduced downtime during the peak harvest season. Today there is little general sentiment. This book is about the worst offender in this genre. Simple rules help promote alignment in groups. These, however, are mostly in the business strategy context, and I found the author's attempt to extend this to personal lives a bit lacking. After he presents his rules, Epstein applies them to a number of legal issues, including employment discrimination, product liability, and environmental protection.
Many insist that any call for legal simplification smacks of stalgia and sentimentality. Find new facing-page translations of classic works from the , , , and. Some blame the government for not doing a good enough job of detailing and specifying various classifications. Also, it is important to test and iterate on the rules. Epstein, a professor of law at the University of Chicago, has a record of proposing radical and extreme alterations in key areas of law--alterations that perhaps initially could be dismissed as so far from the center of legal thinking as to be of only theoretical interest but then turn out to have much more political life in them than one could have thought possible. My attitude is I try to craft the most complete set of rules that I know for sure I can follow. When the context changes dramatically enough, then it may be time to reset the rules completely.
With experience, negotiation and considered observations of your own problems, you too can create your own personal Simple Rules and find easy fixes for even the most complicated of problems. These administrative costs, importantly, include the costs of error and mistake, which gives transparent and predictable rules advantage over complex ones. It does not account for new products and services that will enter the market in the future. The opposite problem also exists, where variations of a good are taxed under different rates. Consider Skrill, a London-based provider of online payment services. The simplest legal system--complete lawlessness--has zero administrative costs. Stopping rules are particularly critical in situations when people tend to double down on a losing hand.
They concluded that brainstorming was a strategic bottleneck. This chapter was short on substance, but one useful observation the authors made is that once you decide to change the rules, it is generally better to change them all at once rather than to try to introduce them slowly. Lesson 2: Your efficiency depends on how well you use how-to, coordination and timing rules. From this starting point, legal rules are introduced if their benefits to welfare exceed their administrative costs. The 2nd half of the book provides even more examples of how companies have adopted simple rules in their corporations. I can see how I use simple rules every day.
Pulse Mining Systems Pulse Mining Systems provides integrated business management tools to mining companies. Simple rules are less prescriptive than complicated processes. Nevertheless, in the right case in the hands of a good lawyer, a simple-rules analysis will be a powerful weapon. I kept hanging with it to see if it would get better, but was a little disappointed. Regardless of the rationale, lukewarm support let alone outright hostility from the sponsoring manager dooms simple rules to failure. Suppose circumstances make compensation impossible. That system was efficient, but the new management team decided that, at this moment in its history, the company needed adaptability more than efficiency.
When information is limited and time is short, simple rules make it fast and easy for people, organizations, and governments to make sound choices. If anyone can accomplish this, it is Prime Minister Narendra Modi. Complexity arises whenever a system— technical, social, or natural— has multiple interdependent parts. Though senior executives should not dictate the rules, they do have an important role to play. The title is borrowed from the book by Richard Epstein, one of the best-known legal theorists in the world. When this happens, mindlessly sticking to the old rules can be worse than having no rules at all because people.