Exaggerated Truth-Telling Is Commonplace, But Not Admirable

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Winston Churchill addressing the House of Commons, 1940

In 1919, as the White and Red armies fought a brutal, seesaw war for control of Russia, British War Secretary Winston Churchill prodded his government to commit troops to the fight. The Bolsheviks, he declared, were “swarms of typhus bearing vermin.” They “hop and caper like ferocious baboons amid the ruins of their cities and the corpses of their victims.” Churchill’s rhetoric was so inflammatory that, after he addressed the House of Commons on the topic, Tory Party leader A.J. Balfour felt compelled to comment. With quintessential British coolness, the former Prime Minister told the future Prime Minister, “I admire the exaggerated way you tell the truth.”

Unfortunately, exaggerated truth-telling is as commonplace in business as in politics. Walter Isaacson cites Steve Job’s “reality-distortion field” repeatedly in the go-to biography of Apple’s mercurial chief. “[Jobs] would assert something — be it a fact about world history or a recounting of who suggested an idea at a meeting — without considering the truth,” writes Isaacson. He would conjure up an impossible production date, for instance, and demand it be met. Surprisingly, as Isaacson recounts, it often was.

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Regulation, Who Needs It?

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OpEd

President Trump signs EO 13771 on January 30, 2017

President Trump wasted no time launching his promised war on federal regulation. Ten days after the inauguration, he signed Executive Order 13771: Reducing Regulation and Controlling Regulatory Costs.

You’ve probably already heard that EO 13771 is a two-for-one deal. It requires that every newly proposed federal regulation be accompanied by the repeal of two existing regulations. And just in case the folks at the FDA or EPA or SEC or any other agency think they can pull a fast one, the order also requires that the total additional cost of all new regulations in fiscal 2017 net out at zero. Read the President’s lips: No added cost!

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