More bizfolks should try policymaking

Donald Trump may have offered Elon Musk a place in his cabinet if he wins a second term as US president. But he still wants to end a tax credit for EVs that currently benefits Tesla. Musk has endorsed Trump, who finds the Tesla boss 'brilliant'. This makes an interesting hypothetical case study for lateral hires in government - including in India, despite GoI beating a hasty retreat on Tuesday over the matter of reservations - where conflicts of interest are addressed in full public view. Quota digressions aside, governments may find the contradictions overwhelming. Yet, they stand to gain immensely from the expertise lateral hires bring to policymaking.

Despite its latest discomfiture, GoI has experimented off and on with outside talent. Technocrats have made considerable contributions to economic and governance reform, not the least being Nandan Nilekani's execution of Aadhaar. Business leaders have natural advantages in policymaking. They are trained to deal with complex issues, learn how to manage risk, have experience in working with large groups, understand finance and are exposed to public scrutiny. As the public sector recedes in most economies, the pool of technocrats in the private sector tends to become bigger. The difficulty arises in tapping this talent for government. There are big differences in how governments and businesses function that deters lateral hiring. The scale, complexity, pace and stakeholders in government can be overwhelming. This affects how decisions are taken and executed.

Yet, forces creating a bigger space for business are also leading governments to lean on it for solutions. EVs serve climate commitments, as do hybrid technologies. Musk is seeing a bigger pay-off in self-driving cars, reusable rockets and neural chips. The question for Trump is whether Musk can pursue all these ambitions while in government. Some of these are beyond government's scope. But maybe one day, when realpolitik takes a back seat, more heavyweights from India Inc could consider stepping up to the gov plate.