by Diane Coyle ‧ RELEASE DATE: Feb. 23, 2014
Coyle does good work explicating a topic that few understand, even if it affects each of us daily. A pleasure for...
It’s inadequate and misleading, but it’s the best we’ve got. No, not Congress—we’re talking about gross domestic product, the measure that economists use to tell us how we’re doing.
Put it this way: Music companies bemoan ever falling levels of sales, fewer and fewer units moved of what used to be surefire best-sellers. Does this mean that no one is listening to music? Of course not, observes British economic consultant Coyle: We are awash in music, but no one is paying for it in what has been called the “everything’s free economy.” GDP, as the author notes, is a “made-up entity” that has been with us only since the World War II era, “an abstract statistic derived in extremely complicated ways, yet one that has tremendous importance.” Designed to give some sort of statistical parity to different kinds of economies (agricultural and industrial, say), so that apples could be compared to oranges and still be a fruitful index of well-being, GDP has built-in biases. In at least one important dimension, it puts perhaps undue emphasis on the idea of growth—the sort of mass production that, as Coyle notes, allowed cheap penicillin into the market, among other items in a technological “flood of innovations” that ordinary people could afford. But in a time of increasing abstraction and specialization, when so much economic activity centers on consuming and the servicing of consumers rather than actually making anything, can GDP serve as a reliable measuring stick? It’s a flawed instrument, Coyle allows, before urging that, even in the wake of the Great Recession, and for all its inability to gauge “happiness” and other less quantifiable aspects of our lives, “we should not be in a rush to ditch GDP.”
Coyle does good work explicating a topic that few understand, even if it affects each of us daily. A pleasure for facts-and-numbers geeks, though accessibly written and full of meaningful real-world examples.Pub Date: Feb. 23, 2014
ISBN: 978-0-691-15679-8
Page Count: 168
Publisher: Princeton Univ.
Review Posted Online: March 30, 2014
Kirkus Reviews Issue: April 15, 2014
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by Daniel Kahneman ‧ RELEASE DATE: Nov. 1, 2011
Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our...
A psychologist and Nobel Prize winner summarizes and synthesizes the recent decades of research on intuition and systematic thinking.
The author of several scholarly texts, Kahneman (Emeritus Psychology and Public Affairs/Princeton Univ.) now offers general readers not just the findings of psychological research but also a better understanding of how research questions arise and how scholars systematically frame and answer them. He begins with the distinction between System 1 and System 2 mental operations, the former referring to quick, automatic thought, the latter to more effortful, overt thinking. We rely heavily, writes, on System 1, resorting to the higher-energy System 2 only when we need or want to. Kahneman continually refers to System 2 as “lazy”: We don’t want to think rigorously about something. The author then explores the nuances of our two-system minds, showing how they perform in various situations. Psychological experiments have repeatedly revealed that our intuitions are generally wrong, that our assessments are based on biases and that our System 1 hates doubt and despises ambiguity. Kahneman largely avoids jargon; when he does use some (“heuristics,” for example), he argues that such terms really ought to join our everyday vocabulary. He reviews many fundamental concepts in psychology and statistics (regression to the mean, the narrative fallacy, the optimistic bias), showing how they relate to his overall concerns about how we think and why we make the decisions that we do. Some of the later chapters (dealing with risk-taking and statistics and probabilities) are denser than others (some readers may resent such demands on System 2!), but the passages that deal with the economic and political implications of the research are gripping.
Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our minds.Pub Date: Nov. 1, 2011
ISBN: 978-0-374-27563-1
Page Count: 512
Publisher: Farrar, Straus and Giroux
Review Posted Online: Sept. 3, 2011
Kirkus Reviews Issue: Sept. 15, 2011
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by Erin Meyer ‧ RELEASE DATE: May 27, 2014
These are not hard and fast rules, but Meyer delivers important reading for those engaged in international business.
A helpful guide to working effectively with people from other cultures.
“The sad truth is that the vast majority of managers who conduct business internationally have little understanding about how culture is impacting their work,” writes Meyer, a professor at INSEAD, an international business school. Yet they face a wider array of work styles than ever before in dealing with clients, suppliers and colleagues from around the world. When is it best to speak or stay quiet? What is the role of the leader in the room? When working with foreign business people, failing to take cultural differences into account can lead to frustration, misunderstanding or worse. Based on research and her experiences teaching cross-cultural behaviors to executive students, the author examines a handful of key areas. Among others, they include communicating (Anglo-Saxons are explicit; Asians communicate implicitly, requiring listeners to read between the lines), developing a sense of trust (Brazilians do it over long lunches), and decision-making (Germans rely on consensus, Americans on one decider). In each area, the author provides a “culture map scale” that positions behaviors in more than 20 countries along a continuum, allowing readers to anticipate the preferences of individuals from a particular country: Do they like direct or indirect negative feedback? Are they rigid or flexible regarding deadlines? Do they favor verbal or written commitments? And so on. Meyer discusses managers who have faced perplexing situations, such as knowledgeable team members who fail to speak up in meetings or Indians who offer a puzzling half-shake, half-nod of the head. Cultural differences—not personality quirks—are the motivating factors behind many behavioral styles. Depending on our cultures, we understand the world in a particular way, find certain arguments persuasive or lacking merit, and consider some ways of making decisions or measuring time natural and others quite strange.
These are not hard and fast rules, but Meyer delivers important reading for those engaged in international business.Pub Date: May 27, 2014
ISBN: 978-1-61039-250-1
Page Count: 288
Publisher: PublicAffairs
Review Posted Online: April 15, 2014
Kirkus Reviews Issue: May 1, 2014
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