by Karl Denninger
Market-Ticker.org
“Diversity is our strength.”
So they say.
Here’s reality: No it isn’t. It’s just diversity.
Now if you start with a homogeneous pool of below-average talent and ability, and add “diversity” on a normal distribution your performance as a whole will improve. That’s not due to diversity, it’s due to improving the mean and median capability set.
But what happens if you start with the cultural and work ethic that has produced running water, electricity in virtually every home, sanitary sewers and septic systems, antibiotics, vaccines, nuclear power, personal transportation that can take you halfway across the country for under $100, electric lights, furnaces to keep you warm in winter and air conditioners to keep you cool in summer, the Internet so you can communicate with people in real time, the telephone and telegraph before that, ships that can transport you across oceans, airplanes that can transport you anywhere in hours and more?