Two leaders in the field of technological applications and business productivity present dramatic evidence for the emergence of a new model for economic innovation, which they call “exponential technology,” and warn that “every industry is now at risk” and must learn how to negotiate the new landscape.
Corporate strategy consultant Downes (co-author: Unleashing the Killer App: Digital Strategies for Market Dominance, 1998) and Nunes (co-author: Jumping the S-Curve: How to Beat the Growth Cycle, Get on Top and Stay There, 2011, etc.), the global managing director of research at the Accenture Institute for High Performance, call their model “the shark fin” due to its ominously familiar shape: a quick vertical launch followed almost immediately by rapid collapse. The world's billion-plus users of smartphone technology form a customer base that has permitted rapid reduction of the costs of implementing new technologies. The authors review Google's free mapping app, which rendered stand-alone GPS technologies obsolete, just as the GPS devices had buried traditional mapmakers like Rand McNally. Downes and Nunes also discuss how Amazon has further transformed publishing and bookselling with each new iteration of the Kindle e-reader. The authors include traditional industries, as well, from automobile and pharmaceuticals to glassmaking and pinball machines. Combined with their treatment of the effects of Moore's Law (regarding the doubling rate of semiconductor power and the reduction of unit price) and Metcalfe's Law (regarding the value of networked goods), their argument becomes extremely appealing. The cumulative effects of both laws extend down the supply chain, dramatically cheapening costs and increasing returns to scale. “As exponential technologies and the disruptors they spawn remake your industry in ever-shorter cycles of creative disruption,” they conclude, “the most valuable asset you can have is speed.”
With informative graphics, the authors deliver a groundbreaking outline for dealing with the inevitable increase in business disruptions caused by new technology.Pub Date: Jan. 7, 2014
ISBN: 978-1-59184-690-1
Page Count: 304
Publisher: Portfolio
Review Posted Online: Nov. 26, 2013
Kirkus Reviews Issue: Dec. 15, 2013
Categories: GENERAL BUSINESS | BUSINESS | LEADERSHIP, MANAGEMENT & COMMUNICATION
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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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BOOK REVIEW
“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
ISBN: 978-1-61039-950-0
Page Count: 432
Publisher: PublicAffairs
Review Posted Online: Aug. 29, 2019
Kirkus Reviews Issue: Sept. 15, 2019
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