A scattershot profile of a wily septuagenarian who seems to have succeeded the late Armand Hammer as the Kremlin's favorite US businessman. New Yorker veteran Kahn (Year of Change, The Problem Solvers, etc.) offers a hit-or-miss rundown on the active life of Dwayne Andreas, who has for 20 years headed Archer Daniels Midland, an unusually profitable multinational enterprise based in Decatur, Ill. With fiscal 1991 revenues approximating $8.5 billion, ADM is America's largest publicly held processor of corn, oil seeds, peanuts, soybeans, wheat, and allied commodities. While virtually all of its output goes to name-brand suppliers, the company is a genuine force in the global grain trade. Thanks to its CEO's prowess as a smooth operator, ADM is a geopolitical power as well. A bipartisan supporter of pro-agriculture candidates for high office in the US, Andreas has a knack for developing close ties to key players in any number of foreign capitals, including Moscow. Indeed, Kahn quotes one observer as wondering ``whether he's more interested in how business can help him in politics or how politics can help him in business.'' Whatever the answer, Andreas is a tireless promoter of soy-based foods, ethanol, and other ADM products with unrealized potential in mass markets. Kahn portrays the globe-trotting corporate chieftain as a benevolently entrepreneurial sort without ever quite coming to grips with what keeps the sometime farm boy on the go well past normal retirement age. Nor does the author succeed in putting ADM's many ventures into individual, let alone collective, perspective. On occasion, the source material's intrinsic values shine through the disorganized text's consistently graceless prose. For the most part, however, a muddled miscellany. (Eight pages of b&w photos— not seen.)
Pub Date: Sept. 23, 1991
ISBN: 0-446-51495-0
Page Count: 336
Publisher: N/A
Review Posted Online: May 20, 2010
Kirkus Reviews Issue: Aug. 1, 1991
Categories: GENERAL BUSINESS | BUSINESS
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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
Categories: BUSINESS | LEADERSHIP, MANAGEMENT & COMMUNICATION | PSYCHOLOGY
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A massive investigation of economic history in the service of proposing a political order to overcome inequality.
Readers who like their political manifestoes in manageable sizes, à la Common Sense or The Communist Manifesto, may be overwhelmed by the latest from famed French economist Piketty (Top Incomes in France in the Twentieth Century: Inequality and Redistribution, 1901-1998, 2014, etc.), but it’s a significant work. The author interrogates the principal forms of economic organization over time, from slavery to “non-European trifunctional societies,” Chinese-style communism, and “hypercapitalist” orders, in order to examine relative levels of inequality and its evolution. Each system is founded on an ideology, and “every ideology, no matter how extreme it may seem in its defense of inequality, expresses a certain idea of social justice.” In the present era, at least in the U.S., that idea of social justice would seem to be only that the big ones eat the little ones, the principal justification being that the wealthiest people became rich because they are “the most enterprising, deserving, and useful.” In fact, as Piketty demonstrates, there’s more to inequality than the mere “size of the income gap.” Contrary to hypercapitalist ideology and its defenders, the playing field is not level, the market is not self-regulating, and access is not evenly distributed. Against this, Piketty arrives at a proposed system that, among other things, would redistribute wealth across societies by heavy taxation, especially of inheritances, to create a “participatory socialism” in which power is widely shared and trade across nations is truly free. The word “socialism,” he allows, is a kind of Pandora’s box that can scare people off—and, he further acknowledges, “the Russian and Czech oligarchs who buy athletic teams and newspapers may not be the most savory characters, but the Soviet system was a nightmare and had to go.” Yet so, too, writes the author, is a capitalism that rewards so few at the expense of so many.
A deftly argued case for a new kind of socialism that, while sure to inspire controversy, bears widespread discussion.Pub Date: March 10, 2020
ISBN: 978-0-674-98082-2
Page Count: 976
Publisher: Belknap/Harvard Univ.
Review Posted Online: Dec. 22, 2019
Kirkus Reviews Issue: Jan. 15, 2020
Categories: GENERAL BUSINESS | BUSINESS | ECONOMICS
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