"To me, many of these projects are a result of easy access to capital and a combination of wishful thinking and speculative behavior rather than rational business calculations, " said Victor Teo, assistant professor at the University of Hong Kong.
That lesson is that once a leader is ideologically committed to a policy of appeasement, he is unable to allow rational considerations to permeate his thinking.
Management and marketing skills are not transferable, the thinking goes, since the federal customer is a political animal that seldom behaves like an economic rational actor.