The Truth About Markets - John Kay


Justice is symbolised by the balancing of scales, and that is certainly the case when it comes to economic justice. The balance of Leadership and Management, of upside opportunity and downside threats, is a vital requirement for a healthy system. John Kay’s explores this balance in his book “The Truth About Markets” with an equal scepticism for extremes of free market or centralised planning. He advocates a fulcrum point of “disciplined pluralism” which applies beyond the supply and demand curves of macroeceonomics…

  • Pluralism matters because life is not worth living without new experiences – new people, new places, new challenges. But discipline matters too: we cannot simply treat life as a psychedelic trip through a random series of novel sensations. We must sometimes commit to what is working: to decide that hobby we are pursuing worth mastering; it’s time to write that novel, or strive for that night-school degree, or maybe to get married. Equally important sometimes we need to make the opposite kind of commitment, and decide that the toxic job and toxic boyfriend are simply not worth the amount of life they cost.”

Leaders foster pluralism, Managers foster discipline.