Bits & Pieces

October 9, 2008 at 4:26 pm 1 comment

Coming up tomorrow…

This week’s question: How do we find leaders in a culture that worships celebrity? 

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This is an excellent analogy from my father’s friend about what is happening right now in the economy and the credit crisis.  I’ve written before that part of the bailout plan – okay, most – was for the psychological rather than physical effects.  What’s happening now is that it hasn’t worked all that well, and the credit lines are freezing.  People aren’t investing, banks aren’t lending, and money isn’t flowing.  The reason for this is that the economy and credit is built on trust.  You have to trust that everyone is going to act according to expectations.  It’s a little like driving – you trust that the cars are going to drive on the right side of the street, drive somewhere around the speed limit, and stop at red lights.  If cars start breaking those rules, you end up in a crash and a traffic jam.  Suppose you were out on a ten-minute drive, and during those minutes you saw three cars driving on the wrong side of the road and two stopped in the middle for no reason.  What would your reaction be?  I would be spooked.  If people don’t drive like they’re supposed to, it gets downright dangerous.  And if it kept happening, I’d stop driving.

That’s exactly what’s happening in the economy.  People got afraid, and started acting unexpectedly.  They held onto their money and assets for dear life, and no one lent or invested to anyone else, which made even more businesses crumble, which made people even more spooked, which had a snowballing effect and has landed us in this jam.  All because of the psychology…

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More thoughts on polling.  Only time will tell whether the Bradley effect is still in existence, but Obama had better be careful about his lead in the polls anyway.  Studies show that the minority groups and people on the lowest rungs of the socioeconomic ladder have the smallest percentages of people that actually vote.  Obama does very well with these minority groups, but on election day, will they actually get out to the polls and support him?  Or do they just say they like him better than McCain on the phone, because they’ve been “randomely selected” to offer an opinion?

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The Bradley Effect Finding Leaders in a Celebrity Culture, pt 1

1 Comment Add your own

  • 1. Stacey Derbinshire  |  October 9, 2008 at 4:30 pm

    I found your site on technorati and read a few of your other posts. Keep up the good work. I just added your RSS feed to my Google News Reader. Looking forward to reading more from you down the road!

    Reply

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