Economy on Steroids

The Economist’s Schumpeter reports on the extreme  physical disciplines of top American executives – early rising, strenuous exercise, frenetic pace.

Then this: “according to one CEO, several of his peers are now dabbling in mind-boosting drugs such as Modafinil and Ritalin, which aid concentration. This trend is likely to intensify: surveys of American university students suggest that one in six now use mind-boosting drugs to get through their exams, a habit they may continue in their subsequent careers. Once again business is learning from both the sporting and military spheres. Sports teams routinely use biometric devices to track their star athletes (and occasionally drugs to boost their performance). America’s armed forces are experimenting with ‘go pills’ that help fighters function for long periods without sleep.”

Schumpeter issues a call to sanity: “There is no doubt that many bosses have heavy weights resting on their shoulders. But are they likely to make these decisions better if they arrive at work exhausted and sleep-deprived? Working around the clock is probably a sign that you are incapable of delegating, not that you are an invincible hero. Frenetic multi-tasking—surfing the web while watching TV while listening to music—is a formula for distraction, rather than good management. And bosses who think of themselves as supermen and superwomen can weaken their companies.”

The last word, though, belongs to Peter Drucker: “No institution can possibly survive if it needs geniuses or supermen to manage it. It must be organised in such a way as to be able to get along under a leadership composed of average human beings.”