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“We have long assumed that those who rise to high office will be ‘good chaps’, knowing what the unwritten rules are and wanting to adhere to them.”

So writes British constitutional historian Peter Hennessy, whose “good chaps” theory of government (or as I’m calling it, good eggs) has been under considerable strain. 

This is not new to managing a business, of course.

We often have to decide whether to structure around good eggs or bad...