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Author: Paul Ormerod
Publisher: Pantheon
ISBN: 0307819418
Category : Social Science
Languages : en
Pages : 288
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Book Description
Why did VHS, an inferior video recording technology, succeed in the marketplace, driving the superior Betamax out of business? Why do big-budget, acclaimed movies sometimes flop at the box office, while low-budget, idiosyncratic films become huge hits? The answers to these questions, says Paul Omerod, remind us that economics is a science based on the workings of human society, as unpredictable an entity as there is. "Conventional economics is mistaken," claimes Omerod, "when it views the economy as a machine, whose behavior, no matter how complicated, is ultimately predictable and controllable." In this cogently and elegantly argued analysis of why human beings persist in engaging in behavior that defies time-honored economic theory, Omerod also explains why governments and industries throughout the world must completely reconfigure their traditional methods of economic forecasting if they are to succeed and prosper in an increasingly global marketplace.
Author: Paul Ormerod
Publisher: Pantheon
ISBN: 0307819418
Category : Social Science
Languages : en
Pages : 288
Get Book Here
Book Description
Why did VHS, an inferior video recording technology, succeed in the marketplace, driving the superior Betamax out of business? Why do big-budget, acclaimed movies sometimes flop at the box office, while low-budget, idiosyncratic films become huge hits? The answers to these questions, says Paul Omerod, remind us that economics is a science based on the workings of human society, as unpredictable an entity as there is. "Conventional economics is mistaken," claimes Omerod, "when it views the economy as a machine, whose behavior, no matter how complicated, is ultimately predictable and controllable." In this cogently and elegantly argued analysis of why human beings persist in engaging in behavior that defies time-honored economic theory, Omerod also explains why governments and industries throughout the world must completely reconfigure their traditional methods of economic forecasting if they are to succeed and prosper in an increasingly global marketplace.
Author: Wei-Bin Zhang
Publisher: Springer Nature
ISBN: 9811598894
Category : Business & Economics
Languages : en
Pages : 224
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Book Description
This book examines the butterfly effect in China's modern economic development during the period of 1978–2018. In chaos theory, the butterfly effect refers to a phenomenon that a butterfly flaps its wings in Okinawa, and subsequently a storm may ravage New York. Deng applied a trivial idea, called the market mechanism, to China’s countryside in 1978. The idea has subsequently caused economic structural changes and fast growth in the economy with the largest population in human history. China’s per capita GDP jumped from $100 in 1978 to over US$8,000 in 2018. Eight hundred million people have made a great escape from poverty. By 2018, China was the world’s second-largest economy from its 10th position in 1978 with its 9 per cent average annual growth rate of GDP in the previous four decades. This illuminating book will be of value to economists, scholars of China, and historians.
Author: Ian Goldin
Publisher: Princeton University Press
ISBN: 0691168423
Category : Political Science
Languages : en
Pages : 320
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Book Description
How to better manage systemic risks—from cyber attacks and pandemics to financial crises and climate change—in a globalized world The Butterfly Defect addresses the widening gap between the new systemic risks generated by globalization and their effective management. It shows how the dynamics of turbo-charged globalization has the potential and power to destabilize our societies. Drawing on the latest insights from a wide variety of disciplines, Ian Goldin and Mike Mariathasan provide practical guidance for how governments, businesses, and individuals can better manage globalization and risk. Goldin and Mariathasan demonstrate that systemic risk issues are now endemic everywhere—in supply chains, pandemics, infrastructure, ecology and climate change, economics, and politics. Unless we address these concerns, they will lead to greater protectionism, xenophobia, nationalism, and, inevitably, deglobalization, rising inequality, conflict, and slower growth. The Butterfly Defect shows that mitigating uncertainty and risk in an interconnected world is an essential task for our future.
Author: Catharine A. MacKinnon
Publisher: Belknap Press
ISBN: 0674237668
Category : Social Science
Languages : en
Pages : 505
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Book Description
“Sometimes ideas change the world. This astonishing, miraculous, shattering, inspiring book captures the origins and the arc of the movement for sex equality. It’s a book whose time has come—always, but perhaps now more than ever.” —Cass Sunstein, coauthor of Nudge Under certain conditions, small simple actions can produce large and complex “butterfly effects.” Butterfly Politics shows how Catharine A. MacKinnon turned discrimination law into an effective tool against sexual abuse—grounding and predicting the worldwide #MeToo movement—and proposes concrete steps that could have further butterfly effects on women’s rights. Thirty years after she won the U.S. Supreme Court case establishing sexual harassment as illegal, this timely collection of her previously unpublished interventions on consent, rape, and the politics of gender equality captures in action the creative and transformative activism of an icon. “MacKinnon adapts a concept from chaos theory in which the tiny motion of a butterfly’s wings can trigger a tornado half a world away. Under the right conditions, she posits, small actions can produce major social transformations.” —New York Times “MacKinnon [is] radical, passionate, incorruptible and a beautiful literary stylist... Butterfly Politics is a devastating salvo fired in the gender wars... This book has a single overriding aim: to effect global change in the pursuit of equality.” —The Australian “Sexual Harassment of Working Women was a revelation. It showed how this anti-discrimination law—Title VII—could be used as a tool... It was the beginning of a field that didn’t exist until then.” —U.S. Supreme Court Justice Ruth Bader Ginsburg
Author: Paul Ormerod
Publisher: Faber & Faber
ISBN: 0571279228
Category : Business & Economics
Languages : en
Pages : 322
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Book Description
According to Paul Ormerod, author of the bestselling Butterfly Economics and Why Most Things Fail, the mechanistic viewpoint of conventional economics is drastically limited - because it cannot comprehend the vital nature of networks. As our societies become ever more dynamic and intertwined, network effects on every level are increasingly profound. 'Nudge theory' is popular, but only part of the answer. To grapple successfully with the current financial crisis, businesses and politicians need to grasp the perils and possibilities of Positive Linking. Our social and economic worlds have been revolutionised by a massive increase in our awareness of the choices, decisions, behaviours and opinions of other people. For the first time in human history, more than half of us live in cities, and this combined with the Internet has transformed communications. Network effects - the fact that a person can and often does decide to change his or her behaviour simply on the basis of copying what others do - pervade the modern world. As Ormerod shows, network effects make conventional approaches to policy, whether in the public or corporate sectors, much more likely to fail. But they open up the possibility of truly 'Positive Linking' - of more subtle, effective and successful policies, ones which harness our knowledge of network effects and how they work in practice.
Author: Paul Ormerod
Publisher: Pantheon
ISBN: 0307430235
Category : Business & Economics
Languages : en
Pages : 274
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Book Description
With the same originality and astuteness that marked his widely praised Butterfly Economics, Paul Ormerod now examines the “Iron Law of Failure” as it applies to business and government–and explains what can be done about it. “Failure is all around us,” asserts Ormerod. For every General Electric–still going strong after more than one hundred years–there are dozens of businesses like Central Leather, which was one of the world’s largest companies in 1912 but was liquidated in 1952. Ormerod debunks conventional economic theory–that the world economy ticks along in perfect equilibrium according to the best-laid plans of business and government–and delves into the reasons for the failure of brands, entire companies, and public policies. Inspired by recent advances in evolutionary theory and biology, Ormerod illuminates the ways in which companies and policy-setting sectors of government behave much like living organisms: unless they evolve, they die. But he also makes clear how desirable social and economic outcomes may be achieved when individuals, companies and governments adapt in response to the actual behavior and requirements of their customers and constituents. Why Most Things Fail is a fascinating and provocative study of a truth all too seldom acknowledged.
Author: Manya M. Mooya
Publisher: Springer
ISBN: 3662491648
Category : Business & Economics
Languages : en
Pages : 193
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Book Description
This monograph critically reviews and updates real estate valuation theory, which is based on neoclassical economics, in light of developments in heterodox economic theory. Building on a comprehensive historical account of the evolution of value theory, the book uses new institutional economics theory and critical realism as lenses through which problems in standard valuation theory and practice are expatiated, and as the foundation for an alternative theory. The new theory is employed to explain major problems in real estate valuation that are beyond the capability of the standard theory, such as price bubbles in real estate markets, anchoring bias, client influence and valuation under uncertain market conditions.
Author: William R. Leach
Publisher: Vintage
ISBN: 1400076927
Category : History
Languages : en
Pages : 449
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Book Description
With 32 pages of full-color inserts and black-and-white illustrations throughout. From one of our most highly regarded historians, here is an original and engrossing chronicle of nineteenth-century America's infatuation with butterflies—“flying flowers”—and the story of the naturalists who unveiled the mysteries of their existence. A product of William Leach's lifelong love of butterflies, this engaging and elegantly illustrated history shows how Americans from all walks of life passionately pursued butterflies, and how through their discoveries and observations they transformed the character of natural history. In a book as full of life as the subjects themselves and foregrounding a collecting culture now on the brink of vanishing, Leach reveals how the beauty of butterflies led Americans into a deeper understanding of the natural world.
Author: Paul Ormerod
Publisher: St Martins Press
ISBN: 9780312134648
Category : Economic forecasting
Languages : en
Pages : 230
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Book Description
Demonstrating how the contending schools of economic thought share the same underlying defects, a highly critical examination of the current economic process advocates a radical new approach that draws on biology, physics, and behavioral science.
Author: Catharine A. MacKinnon
Publisher: Harvard University Press
ISBN: 067429369X
Category : Social Science
Languages : en
Pages : 505
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Book Description
“Sometimes ideas change the world. This astonishing, miraculous, shattering, inspiring book captures the origins and the arc of the movement for sex equality. It’s a book whose time has come—always, but perhaps now more than ever.” —Cass Sunstein, coauthor of Nudge Under certain conditions, small simple actions can produce large and complex “butterfly effects.” Butterfly Politics shows how Catharine A. MacKinnon turned discrimination law into an effective tool against sexual abuse—grounding and predicting the worldwide #MeToo movement—and proposes concrete steps that could have further butterfly effects on women’s rights. Thirty years after she won the U.S. Supreme Court case establishing sexual harassment as illegal, this timely collection of her previously unpublished interventions on consent, rape, and the politics of gender equality captures in action the creative and transformative activism of an icon. “MacKinnon adapts a concept from chaos theory in which the tiny motion of a butterfly’s wings can trigger a tornado half a world away. Under the right conditions, she posits, small actions can produce major social transformations.” —New York Times “MacKinnon [is] radical, passionate, incorruptible and a beautiful literary stylist... Butterfly Politics is a devastating salvo fired in the gender wars... This book has a single overriding aim: to effect global change in the pursuit of equality.” —The Australian “Sexual Harassment of Working Women was a revelation. It showed how this anti-discrimination law—Title VII—could be used as a tool... It was the beginning of a field that didn’t exist until then.” —U.S. Supreme Court Justice Ruth Bader Ginsburg
