What if... the full reset?
What if schools engaged in zero based budgeting? What might be lost? What might be gained?
Inspired by "The Full Reset" by Morgan Housel:
"Zero-based budgeting is the idea that each year’s budget should be created from scratch, rather than using the previous year’s budget as a baseline. [...] It’s based on a profoundly sane idea: Things change and evolve, so the phrase 'this is how we’ve always done it' should be replaced with 'what do we need right now?' A full reset, unburdened by the past.
"How many of us, if given a blank slate, would create an identical portfolio to the one we have now? Some would. Many of us would do something utterly different. But we don’t, because we’re burdened by past decisions and, like the military with an aging fleet, are unsure if updating our equipment is worth the high cost. In this case, the cost of updating your portfolio is the emotional sting of admitting you were wrong on some positions, and releasing all hope that you’ll eventually be proven right.
"This is true for big theories, too. Investor Dean Williams once wrote: 'Expertise is great, but it has a bad side effect. It tends to create an inability to accept new ideas.' "
Each Wednesday we share a "what if" scenario. These are not suggestions as much as provocations.
If you have a "what if" scenario you would like to share, just send an email (and indicate whether you would like it attributed it to you).
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