Bugging
I set out, every year, to have my taxes completed well in advance of April 15th. And this year, I thought that I'd gotten quite the jump on it. It had been a week or so since I'd received the last of the forms I needed, and I sat down to get everything squared away. Only to run into an obstacle at the last moment.
Namely, that there was a bug in the H&R Block software that I was using for tax preparation, and it was convinced that I'd left a field blank, even while it showed me the value that it had calculated for the field. I went back to that section of the data entry process, and tried it all again, only to encounter the same error. And the error prevented me from e-filing the documents. Which wasn't, in and of itself, a huge problem. After all, I could just as easily have printed everything out, and dropped it into a mailbox.
What bothered me about it was that this was a fairly serious problem, that prevented the use of one of the primary features of the software, and is was present in the production release. And it pertained to a situation that was not new... people could just as easily have encountered this problem in previous years, so this was a failure in a system that had worked previously.
One of the problems that people have with modern capitalism, at least as they often encounter it, is that there always seems to be a drive to cut as many corners as possible, in the constant quest for marginally better shareholder value. Almost to the point where poor quality becomes an end in itself, something that investors affirmatively look for, as a guide to where they should place their assets.
I think the problem that institutions have in the United States, whether it's capitalism, or something like the press, is the the people who run them don't see their long-term health as enough of a benefit to themselves (or anyone else, for that matter) to look after it. It doesn't take a rocket scientist to understand that when people come to the conclusion that capitalism runs primarily on rent-seeking and exploitation, that they're no longer going to support it. But if the time horizon is always the next quarter, and no farther, the idea that in ten years, or even five years, people are going to turn on this system becomes a problem for later. So why not continue to squeeze the orange has hard as one can?
In the story of the goose that laid golden eggs, the moral is often taken to be that the greedy killers should have been happy with what they were getting, rather than hoping for a single massive payday. But as I understand the tale, their problem was that they fundamentally misunderstood the nature of the goose. And I think that this is what's happening now. Investors fundamentally misunderstand the nature of the society that they rely upon for their investments to be worth anything. And so they're going to be surprised when it can't, or won't, support them any longer.