With
the explosion of knowledge the average person has been exposed to during the
last fifty years, it has become almost impossible to cope successfully with the
“Information Overload” we need to
sift through, almost on a daily basis, to shape and color an objective decision
about solutions we need to obtain in our quest to neutralize a vast array of
routine difficulties encountered in our rich tapestry of social interaction.
The
internet, instead of becoming part of the solution aggravated the existing
problem by collecting, analyzing, and disseminating an unending stream of
information, where often meaningless chatter is coupled to senseless noise, and
pseudo scientific theories are paraded as authoritative solutions to every
problem existing under the sun.
In
the daunting task of making sense of the senseless amount of information, an
army of entrepreneurs discerned a golden opportunity to make a substantial
fortune by claiming that a unique caste of “Gurus”
can teach, the men and women of the 21st century, the principles of
isolating the valuable information from the clutter and the cacophony that
permeates the big picture of the “Information
Overload”, and thus lead the perplexed and the desperate to the promised
land of the most expedient solution (not necessarily the most appropriate and efficient),
where the anxiety of the decision maker will be dissipated, where logic will
triumph, and where the “Common Good” will reign supreme.
All
over the world, a new cottage industry composed of self-styled experts/consultants/gurus
embarked on the mission of peddling fear, fueling anxiety, and with an air of
overwhelming self-confidence managed to convince decision makers in the
financial sphere, in the political arena, in the medical community, etc…to
adopt their services as the most guaranteed path to the best solution the human
mind can offer.
These
“Gurus” caught the attention of Josh
Freed, an award-winning filmmaker, writer, and journalist who produced a
documentary movie titled “The Trouble With Experts”, (www.cbc.ca/doczone/episodes/the-trouble-with-experts) and with a strong
dose of humor, managed to depict our over reliance on self-styled “Experts”, who try to organize every
aspects of our lives, on the understanding that they know so much more than we
do, and the best sensible move should be to silence our logical faculties and
surrender our destiny to the “High
Priests” of “The Experts Industry”
who were monitored over a period of 20years, and the results have clearly
indicated that they are consistently wrong half the time.
Mr.
Freed’s documentary, while highlighting the disastrous impact self-styled
experts had in bringing the US economy to the brink of a catastrophe in 2008 by
promoting to greedy investors “Toxic
Hedge Funds”, features “… Dutch
artist John Myatt who used house paint and KY jelly to forge the works of Great
Masters. He managed to fool top art critics and museums for 8 years
before he was finally caught. Then there are the wine experts who can't
even distinguish white wine from red and political experts whose predictions
were only a tiny bit better than random guesses - the equivalent of a
chimpanzee throwing darts at a board.” (Source: www.cbc.ca/doczone/episodes/the-trouble-with-experts)
Last
but not least, Mr. Freed introduces the audience to a new generation of “Experts On Experts”,
who
regularly conduct a meta analysis of predictions made by
academics/scientists/pundits/etc…, deconstruct the wrong predictions/theories/flawed
research they have made in their respective field of knowledge, and highlight
the negative impact they had on the lives of thousands of individuals who had
relied on the wrong advice of self-styled high priests of knowledge to solve
problems.
I
strongly recommend to every condominium owner to read a book titled “Wrong: Why Experts Keep Failing Us — And How to Know When Not to Trust
Them” written by David H. Freedman, a prominent journalist
who has
devoted a significant portion of his career to debunking “Peddlers of Knowledge”.
Why
do condo owners need the views and opinions dispensed by Mr. Freedman? I can
write volumes of reasons to justify my recommendation, but I will use
selectively a few points to explain the relevance of Mr. Freedman’s views to “The Condominium Industry” in general,
and the decisions made by a Board of Directors in particular.
It
all starts with the following section of The Condominium Act of Ontario:
Validity of acts
37. (2) The acts of a
director or officer are valid despite any defect that may afterwards be
discovered in the person’s election, appointment or qualifications. 1998,
c. 19, s. 37 (2).
Liability of directors
37. (3) A director shall not
be found liable for a breach of a duty mentioned in subsection (1) if the
breach arises as a result of the director’s relying in good faith upon,
(a) … or
(b) a report or opinion of a lawyer, public accountant,
engineer, appraiser or other person whose profession lends credibility to the
report or opinion. 1998, c. 19, s. 37 (3); 2004, c. 8,
s. 47 (1).
Condominium Act, 1998, S.O. 1998, c. 19
To avoid any form of liability, Board of
Directors and Management Companies have always relied on a breed of
Experts/Consultants (their numbers is endless in the Condo industry) who are
willing to play the role of “Sounding Boards”, echoing to condominium
owners the critical argument that every measure adopted by Directors and
implemented by management companies, rests on the solid ground of sound
knowledge and a sincere attachment to serve the “Common Good” of owners.
Needless to say, 50% of the time the advice is nothing but a waste of valuable financial
resources for minimal or non-existent returns to unit owners.
In the near future, I will provide a detailed
analysis of several projects that took place in our building based on advice
solicited by The Board from experts, with the end result of being nothing short
of wasteful use of financial resources, and significant contributors to a ballooning
in monthly “Maintenance Fees” at the rate of 100% increase every 10
years.
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