That’s true… for the banking sector. However, the author was talking about the software projects in general.
The banking sector interacts with all of private industry, therefore government interference in the banking sector (arguably) causes Dilbertization in software engineering and elsewhere. The articles that I linked to explain this idea in more detail.
I prefer this explanation to the idea that “eventually is a long time”, because it seems to me that a free market should punish wanton incompetence efficiently enough such that Dilbertization doesn’t become a commonplace state of affairs. There is ample opportunity for profit to be made in eliminating incompetent management before the point at which a company implodes; widespread Dilbertization (in which, as the writer of your article described, patently inept managers preside over multiple failed projects) implies to me that what is really happening is that the profit motive in eliminating this incompetence just isn’t that strong – in which case Moldbug’s explanation fits the facts better.
Other forms of government intervention (e.g. “red tape”) also cause Dilbertization, but influence through the maturity mismatched banking system is particularly insidious. Government loans are disguised as “deposit insurance”, propping up an unstable fractional reserve system that wouldn’t exist in a free market context, and when the system inevitably crashes private industry can be openly Sovietised on the basis that the (allegedly) free market has failed – a “piss on my boots and tell me its raining” scenario.
The banking sector interacts with all of private industry, therefore government interference in the banking sector (arguably) causes Dilbertization in software engineering and elsewhere. The articles that I linked to explain this idea in more detail.
I prefer this explanation to the idea that “eventually is a long time”, because it seems to me that a free market should punish wanton incompetence efficiently enough such that Dilbertization doesn’t become a commonplace state of affairs. There is ample opportunity for profit to be made in eliminating incompetent management before the point at which a company implodes; widespread Dilbertization (in which, as the writer of your article described, patently inept managers preside over multiple failed projects) implies to me that what is really happening is that the profit motive in eliminating this incompetence just isn’t that strong – in which case Moldbug’s explanation fits the facts better.
Other forms of government intervention (e.g. “red tape”) also cause Dilbertization, but influence through the maturity mismatched banking system is particularly insidious. Government loans are disguised as “deposit insurance”, propping up an unstable fractional reserve system that wouldn’t exist in a free market context, and when the system inevitably crashes private industry can be openly Sovietised on the basis that the (allegedly) free market has failed – a “piss on my boots and tell me its raining” scenario.