tag:blogger.com,1999:blog-14162253.post2855215900371919234..comments2024-03-27T08:39:28.807-06:00Comments on Wash Park Prophet: Intellectual HazardAndrew Oh-Willekehttp://www.blogger.com/profile/02537151821869153861noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-14162253.post-46914235528719125652009-11-14T07:19:39.101-07:002009-11-14T07:19:39.101-07:00There was already a term for the concept portrayed...There was already a term for the concept portrayed as "intellectual hazard". It's "thinking inside the box".<br /><br />But I think a different concept, "risk aversion", had more to do with the car companies' actions.<br /><br />The car companies were saddled with union deals made in past decades. The only way the car companies could shed the deals was through bankruptcy. The leaders of the car companies, for some reason, chose to take the passive-agressive approach of nose-diving the companies into the ground rather than pro-actively declaring bankruptcy and starting fresh with a business model that might work. I guess in their cost-benefit-risk analysis, they realized they would rather get their guaranteed high income for the remaining months of the company rather than put in a lot of effort and risk to essentially become an entrepreneur in restarting the car company.Michael Malakhttps://www.blogger.com/profile/10007582156392845677noreply@blogger.com