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The idea that severe punishment for executive failure will lead to improved executive decision making I don't think bears out. When dictators publicly executed

The idea that severe punishment for executive failure will lead to improved executive decision making I don't think bears out. When dictators publicly executed advisor 1 and then advisor 2 and then advisor 3, they would still manage to always find someone greedy/desperate enough to want to take a crack on chance #4 or #5. But it did nothing to make the advisors better, it just meant that the next guy had to be even more greedy or desperate.

TulliusCicero 2y ago
That's not an analogous situation. It's entirely possible to run a company like Boeing in a responsible way that's still profitable. Indeed, that used to be true for Boeing itself.
- Sebb767 2y ago
  And the parent comment does not disagree with this. It's just that harsh punishment for executives might not improve the selection - in fact, it might be adverse selection, since increasing the risk will lead actually good people to avoid the position.
  - izacus 2y ago
    Are you seriously claiming that people would avoid position with millions of compensation just because their poor decision making could lead to the same consequences many of the worker class need to endure for their actions?
    - sgt101 2y ago
      Unfortunately I think that's a hard yes - because these people don't have to accept these positions. I think that this kind of high stakes gambling is part of the problem here... Much better to defuse responsibility in the executive suite and pressure shareholders in general to ensure good governance.
    - sdwr 2y ago
      People who value their peace of mind or long term safety might. Reckless, impulsive, emotionally empty people won't be deterred at all
  - TulliusCicero 2y ago
    > And the parent comment does not disagree with this I think it kinda does? Dictators tend to demand unethical behavior from subordinates, and they tend to demand loyalty more than results while also expecting results.
Eddy_Viscosity2 2y ago
We should try it and find out how well it works. Its very different situation then the dictator/advisor. Our current approach of doing nothing isn't working, so lets innovate and disrupt the CEO racket with accountability and penalties.
- freddie_mercury 2y ago
  There are plenty of countries that put executives in prison. Vietnam just upheld an execution sentence for Truong My Lan in a case of financial fraud. Trinh Xuan Thanh was kidnapped from the streets of Berlin and flown back to Vietnam to serve a prison sentence for financial mismanagement of Petrovietnam Construction Joint Stock Corporation. Ask anyone in Vietnam if they think the very common prison sentences for executives has led to positive material changes and they will laugh at the idea.
  - Eddy_Viscosity2 2y ago
    Did it make it worse? If you asked the Vietnamese people if Truong My Lan should be released and given back all her wealth, power, and position. Would they say yes?

TulliusCicero 2y ago

That's not an analogous situation. It's entirely possible to run a company like Boeing in a responsible way that's still profitable. Indeed, that used to be true for Boeing itself.

Sebb767 2y ago
And the parent comment does not disagree with this. It's just that harsh punishment for executives might not improve the selection - in fact, it might be adverse selection, since increasing the risk will lead actually good people to avoid the position.
- izacus 2y ago
  Are you seriously claiming that people would avoid position with millions of compensation just because their poor decision making could lead to the same consequences many of the worker class need to endure for their actions?
  - sgt101 2y ago
    Unfortunately I think that's a hard yes - because these people don't have to accept these positions. I think that this kind of high stakes gambling is part of the problem here... Much better to defuse responsibility in the executive suite and pressure shareholders in general to ensure good governance.
  - sdwr 2y ago
    People who value their peace of mind or long term safety might. Reckless, impulsive, emotionally empty people won't be deterred at all
- TulliusCicero 2y ago
  > And the parent comment does not disagree with this I think it kinda does? Dictators tend to demand unethical behavior from subordinates, and they tend to demand loyalty more than results while also expecting results.

Eddy_Viscosity2 2y ago

We should try it and find out how well it works. Its very different situation then the dictator/advisor. Our current approach of doing nothing isn't working, so lets innovate and disrupt the CEO racket with accountability and penalties.

freddie_mercury 2y ago
There are plenty of countries that put executives in prison. Vietnam just upheld an execution sentence for Truong My Lan in a case of financial fraud. Trinh Xuan Thanh was kidnapped from the streets of Berlin and flown back to Vietnam to serve a prison sentence for financial mismanagement of Petrovietnam Construction Joint Stock Corporation. Ask anyone in Vietnam if they think the very common prison sentences for executives has led to positive material changes and they will laugh at the idea.
- Eddy_Viscosity2 2y ago
  Did it make it worse? If you asked the Vietnamese people if Truong My Lan should be released and given back all her wealth, power, and position. Would they say yes?