Perhaps not for the general public, but a must-have for those in the business of business.
A lively and informative narrative of product-based entrepreneurship in the virtual-product age, by business-school roommates who built and sold a better mouse.
A computer mouse, that is, and shaped like a golf driver at that. Lusk and Harrison were both on track to graduate from Wharton in 1999, with career prospects of an eminently respectable and highly lucrative sort regularly dangled before them. They chose instead to create a company called Platinum Concepts, whose first product was said mouse resembling the head of a golf driver. Harrison took the title of president; Lusk became marketing vice-president. They designed their product, developed business and marketing plans, and established their company base in their San Francisco apartment. Adventures and misadventures followed on the road to profit. Product samples manufactured in Hong Kong arrived; design adjustments consumed considerable time and energy. They learned that the buying period for the Christmas retail season had already passed and realized they had neglected key aspects of product distribution, essential to wholesale-to-retail marketing. New strategies were developed, and the company made its first sale: 200 MouseDrivers to Bank of America. Assorted personalities the company encountered included a nearly narcoleptic sales representative and a psycho-gonzo retail consultant; successes included contacts established with suppliers in the promotional products industry and at trade shows. The company made a profit, and the tale ends with Platinum Concepts still solvent and operational. The authors’ story is as clean and fast as a Tiger Woods tee-shot; they share copious amounts of information with generosity, humor, and all-American spirit.Perhaps not for the general public, but a must-have for those in the business of business.
Pub Date: Jan. 1, 2001
Page Count: 256
Review Posted Online: May 19, 2010
Kirkus Reviews Issue: Nov. 1, 2001
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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
Page Count: 512
Publisher: Farrar, Straus and Giroux
Review Posted Online: Sept. 3, 2011
Kirkus Reviews Issue: Sept. 15, 2011
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Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.
“Quality of life means more than just consumption”: Two MIT economists urge that a smarter, more politically aware economics be brought to bear on social issues.
It’s no secret, write Banerjee and Duflo (co-authors: Poor Economics: A Radical Rethinking of the Way To Fight Global Poverty, 2011), that “we seem to have fallen on hard times.” Immigration, trade, inequality, and taxation problems present themselves daily, and they seem to be intractable. Economics can be put to use in figuring out these big-issue questions. Data can be adduced, for example, to answer the question of whether immigration tends to suppress wages. The answer: “There is no evidence low-skilled migration to rich countries drives wage and employment down for the natives.” In fact, it opens up opportunities for those natives by freeing them to look for better work. The problem becomes thornier when it comes to the matter of free trade; as the authors observe, “left-behind people live in left-behind places,” which explains why regional poverty descended on Appalachia when so many manufacturing jobs left for China in the age of globalism, leaving behind not just left-behind people but also people ripe for exploitation by nationalist politicians. The authors add, interestingly, that the same thing occurred in parts of Germany, Spain, and Norway that fell victim to the “China shock.” In what they call a “slightly technical aside,” they build a case for addressing trade issues not with trade wars but with consumption taxes: “It makes no sense to ask agricultural workers to lose their jobs just so steelworkers can keep theirs, which is what tariffs accomplish.” Policymakers might want to consider such counsel, especially when it is coupled with the observation that free trade benefits workers in poor countries but punishes workers in rich ones.Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.
Pub Date: Nov. 12, 2019
Page Count: 432
Review Posted Online: Aug. 28, 2019
Kirkus Reviews Issue: Sept. 15, 2019
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