There is a great deal of philosophy here, but I'd prefer to see some data that backs up his point. Can you show me a project in which investing in an estimate harmed it?
Namely: "The most surprising part of the 1985 Jeffery-Lawrence study appeared at the very end, when they investigated the productivity of 24 projects for which no estimates were prepared at all. These projects far outperformed all the others..."
Study refers to Jeffery and Lawrence, 1985 study, to which I cannot find the raw data, unfortunately.
http://www.sciencedirect.com/science/article/pii/01641212859...
Jeffrey, D.R. and M.J. Lawrence, "Managing Programming Productivity", The Journal of Systems and Software 5, (1985), 49-58.