Another elegant inquiry from Heilbroner (The Nature and Logic of Capitalism, 1985, etc.), this based on lectures he gave in Canada last autumn. As is his wont, Heilbroner reaches a less-than-definitive conclusion here—that capitalism in the next century will take an assortment of variantly successful forms. With Heilbroner, though, the discursive and judgmental journey tends to be the reward. Before speculating on free enterprise's future, he provides an extensive critique of its past—a critique informed by a decidedly statist vision. Having distinguished between physical wealth (like precious gems or metals) and capital (endlessly employed as a means of amassing additional assets), he argues that, even in an increasingly interdependent global economy, government is an indispensable source of strength for the private sector. Heilbroner goes on to point out the limitations of markets as self-ordering mechanisms, noting that in certain circumstances they can aggravate shortages. Nor does he put much stock in the capacity of profit- oriented activities to address (let alone solve) environmental problems; create infrastructure; ensure productive educational programs; harness potentially disruptive new technologies; and make other needed contributions to the common good. Toward the close, Heilbroner observes that the laissez-faire scenarios offered by such dismal-science luminaries as Hayek, Keynes, Marx, Schumpeter, and Smith have proved either incomplete or in error. He contends that, to survive and thrive, capitalism must adapt the elements of socialism that could curb acquisitiveness, dysfunctional injustice, indifference, and other of a demonstrably viable system's deficiencies, albeit without stifling its Çlan vital. Perceptive analyses of a resilient economic regime whose sociopolitical accountability still leaves much to be desired.
Pub Date: Sept. 27, 1993
ISBN: 0-393-03516-6
Page Count: 176
Publisher: Norton
Review Posted Online: May 19, 2010
Kirkus Reviews Issue: July 15, 1993
BOOK REVIEW
BOOK REVIEW
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
BOOK REVIEW
IN THE NEWS
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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