An economics degree isn’t required to follow the authors’ nuanced argument, but it would surely help. Recommended reading...
A searching, technical examination of the arrival of a kind of economy in which much of what is produced is abstract, symbolic, and speculative.
The economies of old, write London-based economists Haskel and Westlake, were founded on things that were actually manufactured and grown. Even if “the idea that the economy might come to depend on things that were immaterial was an old one,” the actual fact of such an economy has eluded precise description. For example, we lack the ability to measure certain aspects of a company such as Microsoft, whose market value a decade ago was $250 billion, but its physical basis—the value of its properties and equipment—was only about 1 percent of that. The “shift to intangible investment” has widespread consequences: it plays out in long-term inequality, infrastructure development, taxation, and other areas. It furthers what the authors call “secular stagnation” by allowing scalable firms to emerge that engulf and overpower competitors, as opposed to enhancing an economy based on the “spillover effects” of a high tide that raises all boats. The authors examine some interesting sociological points along the way—for one, that supporters of Brexit and other populist movements “score low on tests for the psychological trait of openness to experience,” such openness being key to symbolic analysis of the sort that advanced, intangible economies rely on. However, for the most part, their argument is based on hard economic data and trends, such as companies’ buying back stock in order to become private again, which allows them to operate without the same transparency required of public operations. In a closed economy, investing becomes more challenging, as does corporate financing; the authors examine trends in that direction as well.
An economics degree isn’t required to follow the authors’ nuanced argument, but it would surely help. Recommended reading for venture capitalists and investment counselors.Pub Date: Dec. 1, 2017
ISBN: 978-0-691-17503-4
Page Count: 288
Publisher: Princeton Univ.
Review Posted Online: Oct. 1, 2017
Kirkus Reviews Issue: Oct. 15, 2017
A welcome contribution from a newcomer who provides both a different view and balance in addressing one of the country's...
A fresh, provocative analysis of the debate on education and employment.
Up-and-coming economist Moretti (Economics/Univ. of California, Berkeley) takes issue with the “[w]idespread misconception…that the problem of inequality in the United States is all about the gap between the top one percent and the remaining 99 percent.” The most important aspect of inequality today, he writes, is the widening gap between the 45 million workers with college degrees and the 80 million without—a difference he claims affects every area of peoples' lives. The college-educated part of the population underpins the growth of America's economy of innovation in life sciences, information technology, media and other areas of globally leading research work. Moretti studies the relationship among geographic concentration, innovation and workplace education levels to identify the direct and indirect benefits. He shows that this clustering favors the promotion of self-feeding processes of growth, directly affecting wage levels, both in the innovative industries as well as the sectors that service them. Indirect benefits also accrue from knowledge and other spillovers, which accompany clustering in innovation hubs. Moretti presents research-based evidence supporting his view that the public and private economic benefits of education and research are such that increased federal subsidies would more than pay for themselves. The author fears the development of geographic segregation and Balkanization along education lines if these issues of long-term economic benefits are left inadequately addressed.
A welcome contribution from a newcomer who provides both a different view and balance in addressing one of the country's more profound problems.Pub Date: May 5, 2012
ISBN: 978-0-547-75011-8
Page Count: 304
Publisher: Houghton Mifflin Harcourt
Review Posted Online: April 3, 2012
Kirkus Reviews Issue: April 15, 2012
An informative and creatively multilayered Google guidebook from the businessman’s perspective.
Two distinguished technology executives share the methodology behind what made Google a global business leader.
Former Google CEO Schmidt (co-author: The New Digital Age: Reshaping the Future of People, Nations and Business, 2013) and former senior vice president of products Rosenberg share accumulated wisdom and business acumen from their early careers in technology, then later as management at the Internet search giant. Though little is particularly revelatory or unexpected, the companywide processes that have made Google a household name remain timely and relevant within today’s digitized culture. After several months at Google, the authors found it necessary to retool their management strategies by emphasizing employee culture, codifying company values, and rethinking the way staff is internally positioned in order to best compliment their efforts and potential. Their text places “Googlers” front and center as they adopted the business systems first implemented by Google founders Larry Page and Sergey Brin, who stressed the importance of company-wide open communication. Schmidt and Rosenberg discuss the value of technological insights, Google’s effective “growth mindset” hiring practices, staff meeting maximization, email tips, and the company’s effective solutions to branding competition and product development complications. They also offer a condensed, two-page strategy checklist that serves as an apt blueprint for managers. At times, statements leak into self-congratulatory territory, as when Schmidt and Rosenberg insinuate that a majority of business plans are flawed and that the Google model is superior. Analogies focused on corporate retention and methods of maximizing Google’s historically impressive culture of “smart creatives” reflect the firm’s legacy of spinning intellect and creativity into Internet gold. The authors also demarcate legendary application missteps like “Wave” and “Buzz” while applauding the independent thinkers responsible for catapulting the company into the upper echelons of technological innovation.
An informative and creatively multilayered Google guidebook from the businessman’s perspective.Pub Date: Sept. 23, 2014
ISBN: 978-1455582341
Page Count: 320
Publisher: Business Plus/Grand Central
Review Posted Online: July 21, 2014
Kirkus Reviews Issue: Aug. 15, 2014
BOOK REVIEW
BOOK REVIEW
© Copyright 2024 Kirkus Media LLC. All Rights Reserved.
Follow
Popular in this Genre
We can’t wait for you to join Kirkus!
It’s free and takes less than 10 seconds!
Already have an account? Log in.
OR
Sign in with GoogleTrouble signing in? Retrieve credentials.
Welcome Back!
OR
Sign in with GoogleTrouble signing in? Retrieve credentials.
bookshelf