PRicE of KnowLedGE
February 11, 2010
A short story about competence.
The great engineer Steinmetz after retiring was recalled by General Electric to locate a breakdown in a complex system of machines. All GE experts had been baffled by it. Steinmetz walked around, tested various parts of the machine complex, then took out his pocket a piece of chalk and marked an X on a particular part of one machine.
The engineers took the machine apart and discovered to their amazement that the defect was exactly where Steinmetz’s chalk mark was located.
Some days later GE received a bill from Steinmetz for $100,000.00. they protested and asked him to itemize the bill. he sent back:
Making one chalk mark: $1.00
Knowing where to make it: $99,999.00
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