[taylodl]

Actually people do know what they're doing. They're simply making decisions with incomplete and/or probabilistic data. They want to make decisions maximizing the most likely scenarios while minimizing the most negative outcomes. That's why it's called a balancing act and there's various techniques one can utilize for making decisions in such an environment.

This is a reason why many businesses fail. Sure, just about everybody can make good decisions if you have accurate and complete data with which to make those decisions. That just doesn't typically happen too often when running a business. It's a far cry though from saying "nobody knows what they are doing." That's just simply not true.