
Thanks to Chad Dulac of Chelan County PUD, WA, for this steam-punk platypus
I just dutifully waded through a dismal history of the last five decades of British economic policy. Plenty of government mistakes, and nothing that really got past missing an empire. (The Tyranny of Nostalgia, by Russell Jones.)
Despite a less than adequate grasp myself of the mechanics of money supply and exchange rates, I wanted to learn lessons for we should be doing in future. And try to keep up more with Penny Burns, of course.
The book itself focused most on economic stability, and how that encourages good things to happen. Or at least doesn’t scare the horses. And something beyond short-termism and political self-interest.
But, at the very end, the author did have to conclude that successive British governments have done less and less on what truly underlies the ‘economy’: on developing skills, encouraging new ideas, and supporting infrastructure. On how to enable people to do interesting things, really.
And here is where talking about infrastructure comes in.
The physical infrastructure of water and waste water, power, transport and telecommunications isn’t something in its own right, assets for their own sake. It’s about enabling us to do what we need and want to do. Along with agriculture, education and health, it has to start with supporting Maslow’s hierarchy of needs. No-one too hungry or cold or isolated or poorly educated to reach for self-realisation.
In a country increasingly of “private wealth and public squalor” – used originally to refer to the United States – I come back to the sheer waste of potential in Britain, along with the heartache of poverty and lack of opportunities. It’s not like we don’t have plenty of really interesting challenges to apply our collective energy to.
Obviously no-one in the current British government has any kind of vision for community beyond their rich mates.
But what is our vision?

It may be hard now to imagine a time when we didn’t have asset management so let’s go back almost 40 years ago to when it started, a time when our spending on assets was hand written on file cards, before AIS existed, before fax machines (remember them?), and before computers were everywhere. How did we go from practically nothing to where we are today? Well, it has taken 40 years. This is the story of the first ten: how it all started – and why.
Here we go behind-the-scenes to see how the idea arose and grew and how it was influenced by the economic, political and administrative changes taking place at the time in the Australian government and, indeed, around the world. We look at the challenges, successes and setbacks – and many of the funny things that happened along the way. So join this journey into the past and gain a deeper understanding of the foundation on which contemporary asset management principles are built.
Available both in print and ebook versions from Amazon (kindle) and other on line booksellers (epub). All proceeds support the work of Talking Infrastructure.
Also see The Asset Management Story Page for more

Not Neom – more AI!
Asset Management just took an interesting right turn. Neom, the city of the future planned to cost $550 billion, is currently hoovering up Asset Managers.
Some people I hugely respect, including Mark Sexton and AMCL, Rhys Davies (previous chair of the technical committee for ISO 55000) and Stacey Jones, ex-BHP, have committed to time in Saudi Arabia to ensure AM is properly incorporated as Neom’s design and construction develops.
At one level, this is progress: that a mega mega mega project takes whole-life Asset Management very seriously from the start.
Ever since I interviewed some Asset Managers from Enron twenty years ago – not long before Enron ate itself – I have understood that AM can only be as progressive as the objectives it is aligned to. We are not automatically on the side of the angels.
When we talk about ‘future friendly assets’, the starting point is that someone has thought through how much a shiny new asset will take to operate and maintain in practice. But it must mean more than this: what will the impact of the asset be, starting with whatever materials it uses, and extending into the impact on ecology and long-term pollution, including CO2.
When, if ever, is it a better idea to build new than to maintain the infrastructure we already have? Can we build our way out of trouble?
A fascinating time to look at the different directions we might take from here. Neom as opposed, for instance, to the commitment to biodiversity in infrastructure at the Blue Mountains City Council.
For the moment, Neom is an Asset Management magnet, with consequences probably far beyond the Middle East.
It’s worth looking Neom up on YouTube, if you have not already.

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