Comment by ericd

Or governance of large organizations... There are a huge number of factors to consider, counterfactuals, studies, lots of non-obvious second and third order effects, etc. We're barely able to get basic governance without creating huge problems (low density zoning rubber stamped across the nation creating a housing crisis, for example), so the bar isn't high.

We pay CEOs an enormous amount because a small improvement in performance of an org because of them can make a massive difference in organizational value.