Putting the linkbait title aside, Steve Denning’s The Dumbest Idea In The World: Maximizing Shareholder Value¹ is a really interesting article about the difference between “real markets” and “expectations markets”:

In today’s paradoxical world of maximizing shareholder value, which Jack Welch himself has called “the dumbest idea in the world”, CEOs and their top managers have massive incentives to focus most of their attentions on the expectations market, rather than the real job of running the company producing real products and services.

And that comes at the expense of customers. This sentence also stood out for me:

Unfortunately, as often happens with bad ideas that make some people a lot of money, the idea caught on and has even become the conventional wisdom.