Dan Davies recently recalled this blog post from 2004, that was particularly famous at the time in what was then called the “blogosphere”. Davies was fantastically prescient about the Iraq War, correctly predicting the shitshow it was to become. He attributes that correctness to three things, things that he actually learned at business school:
“Good ideas do not need lots of lies told about them in order to gain public acceptance.” If someone appears to be telling lots of lies about an idea, or seems at least to be fudging the truth slightly, there’s a good chance that the idea is a bad one. Good ideas stand on their merits.
“Fibbers’ forecasts are worthless.” If someone has demonstrated that they’re a liar, you shouldn’t trust anything they have to say. You shouldn’t attempt to “shade downwards” their predictions towards reality; you should reject them wholesale.
“The Vital Importance of Audit.” A public that fails to audit the accuracy of its pundits and its politicians, and gives known liars the benefit of the doubt, gets what is coming to it.
“The secret to every analysis I’ve ever done of contemporary politics has been, more or less, my expensive business school education (I would write a book entitled “Everything I Know I Learned At A Very Expensive University”, but I doubt it would sell). About half of what they say about business schools and their graduates is probably true, and they do often feel like the most colossal waste of time and money, but they occasionally teach you the odd thing which is very useful indeed.”