But Warsh suggested that they may be better than a system in which banks accept micromanagement under the assumption that they will be able to co-opt their micromanagers.
Smith and Hayek resorted to the idea of a spontaneous order not to argue against the necessity of government, but to argue against mercantilism and the micromanagement of the economy, and to remind us that the patterns of behaviour that arise from the rules we impose through legislation often fail to match our best-laid plans.
That would be better, they think, than a system based solely on the micromanagement of individual institutions deemed systemically significant.
Yet for both the Yankees and New York, the 1990s were to become a decade of triumphant revival under the leadership of Mr Steinbrenner and a mayor, Rudy Giuliani, with a fierce micromanagement style uncannily similar to the Boss's.
It is the micromanagement that Mr Kenley objects to, not the goals: "They're going to control your behaviour with specifications and regulations.
And the Conservatives Stephen Hammondd said: "Due to Labour's micromanagement of the railway, farepayers have become all too used to appalling value for money".Yes it is appalling value for money, though you could suggest that £1,000 fares are indicative of too little micromanagement by Labour.
Relentless micromanagement from the White House made things worse.In this section What next?
There is no danger of micromanagement with Mr Yanukovich, who represents the interest of big industrial groups in the Russian-speaking east.
Winning, he said, was second only to breathing and the lack of success led to micromanagement often bordering on the tyrannical.
Another round of painful pension cuts is looming, on top of earlier across-the-board reductions averaging 30%.The newish finance minister, Gikas Hardouvelis, an America-trained economist, wants to slash the troika's list of some 700 reforms to be enacted by the end of this year, arguing that such micromanagement is no longer required.
In the eyes of many officials in the states the front line in America's battle to change the way it looks after poor families the plan involves too much federal micromanagement and too little flexibility.This hostility is interesting, because the bill that got through the House cleaves very closely to George Bush's own proposals.
