This principle, as well as related principles, like the McNamara Fallacy and Goodhart's Law essentially boil down to one lesson I've come to realize in life: "numbers", "metrics" or even a "system" are never a substitute for actual humans caring about doing the right thing. If the humans involved care to do the right thing, they will do it, even without a system (although some systems make it easier). If they don't care about doing the right thing, no system or data-driven approach can fix that.
Which is also why I have a sneaking suspicion that most economic theory is complete bullshit. All the debates over privatization vs. public services, monopoly vs. competition, autocratic vs. democratic styles of leadership etc. are mostly irrelevant. Both can work. It all boils down to whether you have good human stakeholders who have the integrity and agency to do the right thing. Counter to most economic theories, for example, a monopoly that is run by people who actually care about doing the right thing might be better run than fiercely competitive startups who just want to make a quick buck.
>Which is also why I have a sneaking suspicion that most economic theory is complete bullshit. All the debates over privatization vs. public services, monopoly vs. competition, autocratic vs. democratic styles of leadership etc. are mostly irrelevant. Both can work. It all boils down to whether you have good human stakeholders who have the integrity and agency to do the right thing.
I don't think this is some gotcha, but basic economic understanding for at least the last hundred years. Fundamentally, much of economic theory acknowledges these questions. This brings you full circle, given inconsistent humans with individual values, how do different systems and rulesets perform.
Which is also why I have a sneaking suspicion that most economic theory is complete bullshit. All the debates over privatization vs. public services, monopoly vs. competition, autocratic vs. democratic styles of leadership etc. are mostly irrelevant. Both can work. It all boils down to whether you have good human stakeholders who have the integrity and agency to do the right thing. Counter to most economic theories, for example, a monopoly that is run by people who actually care about doing the right thing might be better run than fiercely competitive startups who just want to make a quick buck.