Warren Buffett is known as the "Oracle of Omaha". And with good reason: the performance of Berkshire Hathaway has cemented his position as one of the world's foremost investors. He has been able to consistently create weath for shareholders by value investing and seeking out companies he can control and understands. His ability to foresee undervalued companies is unequalled.
What's this got to do with the Cutler Review?
Long before Warren Buffett there was Pythia, the Oracle of Delphi who, through prophecies guided Apollo's life. She could see the future and the past and could draw from them the lessons needed. So Oracles, whether their messages are plain or cryptic, stand in a unique position to foretell and reach into the future.
There is an element of this approach to the Cutler Review. Despite the benefits that can come from fully engaging and consulting with participants of the National Innovation System, an Oracle would probably not. Having the ability to stand outside of the pressures of time and space gives an incredible opportunity to consider the future.
We will see exactly what this means for Australia on 31 July 2008. In a few short weeks the Green Paper will have been written and we will see what Cutler and his associates consider the future to be.
But, will they have the foresight of a Delphic or Omahan Oracle?
Time, and only time, will tell.
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