Peter Drucker Quotes
Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window.
He is absolutely right, but unfortunately made this statement several years after he served as the Fed Chairman. He never made a statement like this when he and his colleagues made their policies based on their economic forecasting. Central bankers have generally felt that one of their jobs was to give the people confidence in the nation’s banking system and economy and the admission that much policy making was based on “coin toss” forecasting.
He does not claim that a prediction may not coincidentally turn out to be accurate—just that the predictor has no certainty whatsoever and at best was guessing and at worse manipulating.
Peter Ferdinand Drucker was an Austrian management consultant, educator, and author, whose writings contributed to the philosophical and practical foundations of the modern business corporation. He was also a leader in the development of management education, he invented the concept known as management by objectives and self-control, and he has been described as "the founder of modern management".
