IBM REDUX

LOU GERSTNER AND THE BUSINESS TURNAROUND OF THE DECADE

The detailed story of a strong-minded business leader and his battle to reverse the failing fortunes of a major international corporation. This story would probably have been intriguing even if it were a puff piece, generated as an IBM public-relations ploy. But the author, a former IBM-speechwriter-turned-journalist, crafted this work without the support or approval of the giant computer company. From this independent perspective, it succeeds in capturing both the former culture of IBM, established and set in its ways after decades of affluence, and the unsettling conditions created by the new boss, Lou Gerstner. The profile of Gerstner reveals a complex, not always likable character, yet someone uniquely capable of identifying problems and finding appropriate people to work with him. Although focused on Gerstner, the book also covers the carefully chosen executives he selects to turn his directives into action and those who fail to make the grade. Since 1993, when Gerstner was wooed away from RJR Nabisco to manage the blundering IBM, he has not always made the right decisions or backed the right products. But from a management perspective, he produced a textbook example of instrumenting change between old and new business models. Although the main narrative is how the new leader forged his turnaround, readers not already aware of how and why IBM fell from power will be fascinated, if not disgusted, by the details included here. And Gerstner’s background will also prove informative and insightful, an example of achievement founded in a working-class environment. Although Gerstner was ambitious and hungry for control, his tale stresses the value of going to the right schools (for him it was Dartmouth and Harvard Business School), working harder than those around you, and having superior intelligence to begin with. A dramatic and well-told adventure story, with the high seas and pirates replaced by carpeted office corridors and MBAs.

Pub Date: Sept. 1, 1999

ISBN: 0-88730-943-7

Page Count: 288

Publisher: N/A

Review Posted Online: May 20, 2010

Kirkus Reviews Issue: July 1, 1999

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Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our...

THINKING, FAST AND SLOW

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. 4, 2011

Kirkus Reviews Issue: Sept. 15, 2011

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A declaration worth hearing out in a time of growing inequality—and indignity.

ECONOMIC DIGNITY

Noted number cruncher Sperling delivers an economist’s rejoinder to life, liberty, and the pursuit of happiness.

Former director of the National Economic Council in the administrations of Presidents Bill Clinton and Barack Obama, the author has long taken a view of the dismal science that takes economic justice fully into account. Alongside all the metrics and estimates and reckonings of GDP, inflation, and the supply curve, he holds the great goal of economic policy to be the advancement of human dignity, a concept intangible enough to chase the econometricians away. Growth, the sacred mantra of most economic policy, “should never be considered an appropriate ultimate end goal” for it, he counsels. Though 4% is the magic number for annual growth to be considered healthy, it is healthy only if everyone is getting the benefits and not just the ultrawealthy who are making away with the spoils today. Defining dignity, admits Sperling, can be a kind of “I know it when I see it” problem, but it does not exist where people are a paycheck away from homelessness; the fact, however, that people widely share a view of indignity suggests the “intuitive universality” of its opposite. That said, the author identifies three qualifications, one of them the “ability to meaningfully participate in the economy with respect, not domination and humiliation.” Though these latter terms are also essentially unquantifiable, Sperling holds that this respect—lack of abuse, in another phrasing—can be obtained through a tight labor market and monetary and fiscal policy that pushes for full employment. In other words, where management needs to come looking for workers, workers are likely to be better treated than when the opposite holds. In still other words, writes the author, dignity is in part a function of “ ‘take this job and shove it’ power,” which is a power worth fighting for.

A declaration worth hearing out in a time of growing inequality—and indignity.

Pub Date: May 5, 2020

ISBN: 978-1-9848-7987-5

Page Count: 384

Publisher: Penguin Press

Review Posted Online: Feb. 26, 2020

Kirkus Reviews Issue: March 15, 2020

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