A provocative case, and one that those who feel undervalued in the present economy will surely appreciate.
A sharply argued thesis that one effect of all-powerful corporations is the suppression of wages for working people across the board.
Productivity has risen markedly since 1980, writes Barcelona-based economist Eeckhout, “yet what most workers get in exchange for producing that output has not kept up.” Indeed, wages have fallen, especially for “unskilled workers” and those without a college education. Even skilled professionals are losing ground. Meanwhile, corporations such as Amazon and Google have become near monopolies. The labor share of the economy, as Eeckhout puts it formally—though this book requires no background in economics to understand—was about 65% in 1980 and is below 58% today. “A decline of seven percentage points—or 10 percent—may seem tiny,” he adds, “but that includes the earnings of…top earners, and not just the low-paid workers.” Given the inequalities in today’s winner-take-all economy, workers understandably feel that they have no stake in the game and no vested interest in seeing that the system is maintained, giving rise to political unrest. In a novel, intriguing argument, Eeckhout holds that Amazon and other monopolies could well afford to lower their costs, which would mean more volume, yet they keep their prices high in order to curb demand and keep labor costs down while maintaining market power. The author notes that whereas the two largest retailers before the Depression, Sears and A&P, had a market share of just 3%, Walmart and Amazon today “account for 15 percent of retail sales.” Yet antitrust regulators, as well as politicians of all stripes, are silent. Eeckhout proposes that existing antitrust laws be brought to bear to force higher wages as well as to pry data from the hands of corporations and back into the purview of the consumers who generate it.
A provocative case, and one that those who feel undervalued in the present economy will surely appreciate.Pub Date: June 1, 2021
ISBN: 978-0-691-21447-4
Page Count: 336
Publisher: Princeton Univ.
Review Posted Online: April 12, 2021
Kirkus Reviews Issue: May 1, 2021
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
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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