More readable than most studies of its kind, Lindblom’s overview raises as many questions as it answers—and offers much food...
A roundabout but illuminating attempt to define a slippery economic construct.
“Although the market system is roughly familiar to all of us,” writes Lindblom (Economics/Yale Univ.), “not even economists wholly understand it.” That is understandable, given all the things that the market system is, at least in the author’s account: an “extraordinary social process,” a motivator and coordinator of human activity, a peacekeeper and cause of conflict, an ally and enemy of freedom, a destroyer and producer of inequalities. Lindblom observes that all existing societies make use of markets, but not all have developed mechanisms whereby the conjunction of buyer and seller takes precedence over any program of state planning; the market system, in his definition, involves the “societywide coordination of human activities not by central command but by mutual interactions in the form of transactions.” His insistence on the supremacy of individuals is not mere libertarian cant; he recognizes that certain market-state hybrids have proved effective, that the state can perform certain needed tasks that the market cannot, and that individuals and corporations are capable of extremely bad faith. But, he adds, at its best the market system is a pattern of cooperative behavior where people somehow overcome naked self-interest to act in ways that yield mutual benefit, and where individuals, by voting with their wallets, have a direct influence on how that behavior is conducted. The leading enemies of that cooperative system are not the statist ideologies of old, Lindblom suggests, but instead “reckless banking and incompetent governmental regulation of financial markets,” which can instantly undo the efforts of millions. But even where relatively unhindered and apparently smoothly functioning market systems prevail, and even where consumer goods are more and more available in an ever more marketized world, he notes that people are declaring themselves to be increasingly less happy—yet another of many puzzles that the market poses.
More readable than most studies of its kind, Lindblom’s overview raises as many questions as it answers—and offers much food for thought.Pub Date: April 1, 2001
ISBN: 0-300-08752-7
Page Count: 290
Publisher: Yale Univ.
Review Posted Online: May 19, 2010
Kirkus Reviews Issue: Feb. 15, 2001
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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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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