I once asked a Seattle businessman what he thought of consultants. "They borrow your watch to tell you what time it is," he said coldly.
That's not an uncommon sentiment. Despite that, management consulting is roughly a $140-billion industry globally. And McKinsey is widely considered the gold standard. People who work for McKinsey receive a golden ticket to top jobs at nearly any firm in the world.
Given its reputation, one would expect that its reports are smart and insightful. But a recent analysis from McKinsey on homelessness in Seattle is jaw-dropping in its naivete and lack of sophistication.
McKinsey Concludes that Wealth...