A provocative thesis couched in measured, scholarly language. Watch the editorial pages of Bloomberg News and the Wall...
A carefully stated cri de guerre against “the current cult of leadership” that characterizes corporate culture—and leads to extraordinary paychecks.
Why is it that the head of an American corporation should be paid millions—sometimes tens of millions—more per year than an entry-level worker there? Ask a member of the board, writes legal scholar Dorff (Southwestern Law School), and you’re likely to be told that chief executive compensation is so high because that leader is indispensable to the success of the company. In the case of GE’s Jack Welch, that may have been so: After all, he increased the company’s worth nearly 30 times over in his tenure. But what of those executives who preside over near-catastrophic loss of worth and market share, layoffs and scandal, yet receive their stock payouts and fat paychecks regardless? The theories underlying the supposed indispensability of the CEO, writes Dorff, lack “strong empirical support.” Instead, in many cases, CEOs are rewarded disproportionately simply because other CEOs are rewarded disproportionately. A corporate culture has developed in which it’s assumed that this vicious circle is the natural order of things; it’s not corruption or cronyism that makes this so, but a simple misreading of the world. Dorff proposes that rather less quantifiable rewards be encouraged, among them “harnessing reputational desires, creating motivational cultures, and cultivating internal drives.” Understandably, many bosses will prefer the money, but Dorff’s insistence that corporations need less-expensive leadership seems intuitively right. If nothing else, the shift in accounting methods that he describes favors the reforms he suggests, including perhaps adding more restricted stock to compensation packages instead of options, which “reduces the lottery factor in CEO pay.
A provocative thesis couched in measured, scholarly language. Watch the editorial pages of Bloomberg News and the Wall Street Journal to see whether it catches on.Pub Date: Aug. 1, 2014
ISBN: 978-0-520-28101-1
Page Count: 328
Publisher: Univ. of California
Review Posted Online: June 30, 2014
Kirkus Reviews Issue: July 15, 2014
A moving meditation on mortality by a gifted writer whose dual perspectives of physician and patient provide a singular...
A neurosurgeon with a passion for literature tragically finds his perfect subject after his diagnosis of terminal lung cancer.
Writing isn’t brain surgery, but it’s rare when someone adept at the latter is also so accomplished at the former. Searching for meaning and purpose in his life, Kalanithi pursued a doctorate in literature and had felt certain that he wouldn’t enter the field of medicine, in which his father and other members of his family excelled. “But I couldn’t let go of the question,” he writes, after realizing that his goals “didn’t quite fit in an English department.” “Where did biology, morality, literature and philosophy intersect?” So he decided to set aside his doctoral dissertation and belatedly prepare for medical school, which “would allow me a chance to find answers that are not in books, to find a different sort of sublime, to forge relationships with the suffering, and to keep following the question of what makes human life meaningful, even in the face of death and decay.” The author’s empathy undoubtedly made him an exceptional doctor, and the precision of his prose—as well as the moral purpose underscoring it—suggests that he could have written a good book on any subject he chose. Part of what makes this book so essential is the fact that it was written under a death sentence following the diagnosis that upended his life, just as he was preparing to end his residency and attract offers at the top of his profession. Kalanithi learned he might have 10 years to live or perhaps five. Should he return to neurosurgery (he could and did), or should he write (he also did)? Should he and his wife have a baby? They did, eight months before he died, which was less than two years after the original diagnosis. “The fact of death is unsettling,” he understates. “Yet there is no other way to live.”
A moving meditation on mortality by a gifted writer whose dual perspectives of physician and patient provide a singular clarity.Pub Date: Jan. 19, 2016
ISBN: 978-0-8129-8840-6
Page Count: 248
Publisher: Random House
Review Posted Online: Sept. 29, 2015
Kirkus Reviews Issue: Oct. 15, 2015
PERSPECTIVES
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
ISBN: 978-1-61039-950-0
Page Count: 432
Publisher: PublicAffairs
Review Posted Online: Aug. 28, 2019
Kirkus Reviews Issue: Sept. 15, 2019
SEEN & HEARD
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