Goal-Free Economics?

I found some of the dialogue around Ben Bernanke, the potential replacement of Federal Reserve chairman Alan Greenspan, quite interesting. It felt like a debate about goal-setting. According to a recent Associated Press article by Rachel Beck:

“If Bernanke is confirmed, the central bank could for the first time in its history adopt a specific target for the inflation rate and then make adjustments to interest rates as a way of trying to keep it in that range.”

Greenspan, on the other hand “has been against setting an actual ‘inflation target,’ whereby the Fed discloses its goal and its forecast for inflation. His view is that the Fed can control inflation without setting a specific rate that it must then chase, which he believes could hamper its flexibility to act in a time of need. That stance has proven successful time and again, including in the last year as energy prices have skyrocketed but the core inflation rate — as measured by the consumer price index excluding energy and food costs — has remained at only around 2 percent, low by most standards.”

They are both interested in low inflation. The question is the means of achieving that. Bernanke appears to be in favor of a goal-oriented approach, whereas Greenspan is more goal-free.

NOTE: I am not an economist. This is only an observation, not an endorsement of one perspective over the other.

Great Article on Goal-Free Living

There is a new article on kansascity.com about Goal-Free Living entitled: “Without a goal, we don’t have to keep score.” I really enjoyed the perspective of the author, Cindy Hoedel . Click here to read the article (free registration may be required).

I particularly liked the story of Cindy’s challenge with her goal-oriented financial advisor.

P.S. December 12 — I had a great phone conversation with Cindy. She said that with the exception of one other story, her article on Goal-Free Living generated the most responses ever. She is going to be writing a follow-on piece later this month.

Fake Busy

I could get into a deep philosophical rant about how our achievement oriented society has people brainwashed into believing that they need to appear busy at work if they want to be successful. Instead, I will let this entertaining television advertisement say it all. Click here to enjoy the video

Quote of the Day — Harpo Marx

“I don’t know whether my life has been a success or a failure. But not having any anxiety about becoming one instead of the other, and just taking things as they come along, I’ve had a lot of extra time to enjoy life.” – Harpo Marx

I am told that Harpo’s autobiography is an excellent example of Goal-Free Living in action. I bought a copy today. You can find a snippet of it on positivesharing.com

Riots at Conference During Goal Exercise

Ok, riot is a bit of a strong word. No tables were tossed and no fires were set. However, new ideas did spread like wildfire. And a rebellion of sorts did take place. Let me explain.

As I mentioned in an earlier post, I spoke at a conference in Washington DC last weekend. After my presentation (which was completely improvised to demonstrate the power of “using a compass, not a map”), the tone of the conference changed. One person wrote me and said, “It really was remarkable how many people changed their viewpoint the day that you spoke. So many of them adjusted their language from using goals to using aspirations.”

This was evident from a brainstorming exercise we did the afternoon after my speech. All participants were asked to get into small groups and generate idea on how “1,000 organizations could be certified as democratic organizations by 2020.” On the surface, this sounds like a wonderful goal, especially if you are a strong proponent of democracy in business. However, there was an uprising; a widespread dissent against the idea of the activity. The concept of ditching the goal spread quickly from table to table. There was event a goal-free chant developed by one team. I think it was “Ditch the goal; give up control!” Or something like that.

Rather than a traditional goal, people latched on to more aspirational statements like “movement” and “open.” The ideas generated were about giving up control; borrowing ideas from other movements like “open source” in technology. Big and audacious ideas were generated. Ideas that far exceeded those that would have been generated had we focused only on certification.

Goals are not inherently bad. It’s when they blind you to bigger opportunities that the problems arise; when they have you play small, and you don’t even realize it. Have fun. Play big. And create a rebellion whenever the mood strikes.

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