More than a week after becoming football legend, the Super Bowl’s last-minute interception continues to prompt second guessing: did Seattle Seahawks coach Pete Carroll make a bad call when he ordered Russell Wilson throw the ball? Did the quarterback pass poorly?
Or are we focusing on the wrong things altogether?
First, let’s look at the now (in)famous play.
Running the ball, like many Monday-morning quarterbacks have advocated, would have resulted in a massive pileup at the line, and the receiver Wilson spotted in the end zone didn’t appear well covered.
That is until Patriots defender Malcolm Butler emerged as if out of nowhere for the game-saving and Super Bowl-winning interception.
People love to use moral hazard as an excuse to inflict pain on others. So do governments, as we are seeing as the European Union once again threatens Greece with severe measures for that nation’s failure to fully implement the EU’s harsh austerity measures. The argument is extraordinarily simple: if a country cannot discipline itself, then we will teach it discipline through financial lashes. After all, didn’t Greece bring this pain on itself?
A similar mindset drove debt restructuring in Argentina in 2001. The U.S. treasury wanted to make Argentina an example for the whole Latin American region: If Argentina did not reduce its fiscal deficit to zero as promised, the argument went, the nation would deserve to suffer and the government would need to go. Indeed, Argentina did not reduce its deficit to zero, but it got it down to 0.6 percent in the third quarter of 2001. This effort by the Argentinean government was, unfortunately, unaccompanied by similar efforts in its provinces, but still, it was a massive success. But not to the enforcers, who basically said the efforts were not good enough.
I’ve just returned from a weeklong deep dive into the frontline of societal renewal in Indonesia. In an earlier blog I shared some of my experiences with a group of Indonesian leaders from government, business, and civil society who came for a weeklong module at MIT in September. They were participants in the MIT IDEAS program that I chair, which takes leaders from society’s three sectors (business, government, civil society) on a 12-month journey of personal, professional, and institutional innovation and renewal.
This time we came together again for a weeklong retreat on Wakatobi, a group of remote islands in the Banda Sea, which is in the Coral Triangle region that is part of the earth’s second most important biodiversity region (second only to the Amazon). In 2009 (May 15 2009) six countries (Indonesia, Philippines, Malaysia, Timor Leste, Papua New Guinea, Solomon Islands) signed the Coral Triangle Initiative (CTI) for co-managing and protecting a marine ecosystem that is home to the highest coral diversity in the world with 600 corals or 76% of the world’s known coral species. Today CTI has thousands of stakeholders from across all sectors. Sadly, since the treaty’s signing, little has been done to implement its goals at the ground level, among fishermen and local communities. This is where the story is directly linked to our tri-sector group of IDEAS fellows, which includes several key players in the CTI system.
A young woman I know did everything right in high school, got into a good private college, and landed a position in corporate marketing for a major retail chain after she graduated. While it was a good, stable job—the kind that makes parents happy—she found it stultifying and unsatisfying.
With a solid academic pedigree and good experience, she hit the job market to look for a more fulfilling career. Several months into her search, she was floundering despite a solid job market in Boston. She wasn’t sure why.
This situation is typical of those faced by millennials I talk to. This woman’s job quest mirrors a unique phenomenon of this generation: an obsession with passion and a misunderstanding of its currency in the job market.
David Verrill, Executive Director, MIT Center for Digital Business
David Verrill, executive director of the MIT Center for Digital Business sits down with Dave Vellante and Stu Miniman from theCube for the pre-show to the MIT Conference on the Digital Economy: The Second Machine Age to discuss the MIT Initiative on the Digital Economy.
On April 10, 2015, the MIT Digital Economy Conference: The Second Machine Age, led by Erik Brynjolfsson, director of the Initiative on the Digital Economy, and Andrew McAfee, co-director of the Initiative on the Digital Economy, featured a series of discussions that highlight MIT’s role in both understanding and shaping our increasingly digital world.
David Verrill is the Executive Director of the MIT Center for Digital Business.