The Knowledge-Creating Company: How Japanese Companies Create the Dynamics of Innovation

Book Description

How have Japanese companies become world leaders in the automotive and electronics industries, among others? What is the secret of their success? Two leading Japanese business experts, Ikujiro Nonaka and Hirotaka Takeuchi, are the first to tie the success of Japanese companies to their ability to create new knowledge and use it to produce successful products and technologies. In The Knowledge-Creating Company, Nonaka and Takeuchi provide an inside look at how Japanese companies go about creating this new knowledge organizationally. The authors point out that there are two types of knowledge: explicit knowledge, contained in manuals and procedures, and tacit knowledge, learned only by experience, and communicated only indirectly, through metaphor and analogy. U.S. managers focus on explicit knowledge. The Japanese, on the other hand, focus on tacit knowledge. And this, the authors argue, is the key to their success--the Japanese have learned how to transform tacit into explicit knowledge. To explain how this is done--and illuminate Japanese business practices as they do so--the authors range from Greek philosophy to Zen Buddhism, from classical economists to modern management gurus, illustrating the theory of organizational knowledge creation with case studies drawn from such firms as Honda, Canon, Matsushita, NEC, Nissan, 3M, GE, and even the U.S. Marines. For instance, using Matsushita's development of the Home Bakery (the world's first fully automated bread-baking machine for home use), they show how tacit knowledge can be converted to explicit knowledge: when the designers couldn't perfect the dough kneading mechanism, a software programmer apprenticed herself with the master baker at Osaka International Hotel, gained a tacit understanding of kneading, and then conveyed this information to the engineers. In addition, the authors show that, to create knowledge, the best management style is neither top-down nor bottom-up, but rather what they call "middle-up-down," in which the middle managers form a bridge between the ideals of top management and the chaotic realities of the frontline. As we make the turn into the 21st century, a new society is emerging. Peter Drucker calls it the "knowledge society," one that is drastically different from the "industrial society," and one in which acquiring and applying knowledge will become key competitive factors. Nonaka and Takeuchi go a step further, arguing that creating knowledge will become the key to sustaining a competitive advantage in the future. Because the competitive environment and customer preferences changes constantly, knowledge perishes quickly. With The Knowledge-Creating Company, managers have at their fingertips years of insight from Japanese firms that reveal how to create knowledge continuously, and how to exploit it to make successful new products, services, and systems.

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Manufacturers around the world have learned much from Japanese manufacturing techniques. However, any company that wants to compete on knowledge must also learn from Japanese techniques of knowledge-creation. Managers at Japan's most successful companies recognize that creating knowledge is not simply a matter of processing objective information. Rather, it depends on tapping the tacit and often highly subjective insights, intuitions, and ideals of employees.

Customer Reviews:

Not even worth one star.......2005-11-21

I was very disappointed by this book. Not only was it painful to read, because it dragged on and was full of academic nonsense, the authors views were also unconvincing and based on old research.

This book is outdated and not relevant to the way Japan is today. The authors use a lot of research and examples from the 80s and even the 70s. They make the claim that Japanese firms experienced a lot of success in the late 70s and 80s because of their superior ability to "create knowledge." They seem to be in complete denial that Japan's economic bubble had anything to do with this "success" that they are talking about. Also, the book was written over 10 years ago, before the financial crisis and before people realized that a lot of this so-called success was just cooked in the books by accountants.

They do give some reasonable examples of knowledge creating firms that are successful, but that's all they are, just a few examples and not an accurate representation of the whole picture of Japanese Management. Also, most of the examples are of Japanese manufacturing firms. What about the service sector? Suspiciously they did not use examples of companies from Japan's service sector, which are extremely inefficient and not the text book perfect examples of successful "knowledge creating" firms.

The theories and models in this book are a bunch of overly abstract vague pretentious academic nonsense. The real life examples are so nebulously related to the theories and models that most successful (or unsuccessful) companies can be used as examples.

If you want to read a bunch of nonsense based on old research with the names of Harvard professors and some philosophy thrown in to make the nonsense seem legit and intelligent, then by all means, read this book. But if you are like me and want to learn about Japanese management, don't waste your time or money on this book.

BEWARE! Digital version is only a 10 page summary!.......2004-03-16

Don't get caught like I did.

From information-processing machine to knowledge-creating co.......2002-08-28

This book is the classic in the organizational learning approach. But it¡¯s more than that. This book is not about lean production or Japanese kaizen system, but about how to enhance a firm¡¯s adaptability to turbulent environment through knowledge creation. with suggesting new concept of knowledge-creation as the tangible base of organizational capabilities or innovation, this book serves as the bridge between organizational learning school and resource-capabilities view.
As the being to survive in environment, the firm processes signals or information from environment. Knowledge is the framework to process info to interpret the state of environment. Up to 1980s, the company was viewed as information-processing machine. Indeed, firm is the flow of information. That kind of view has been justified against the business reality. Actually, it¡¯s the very picture of bureaucratic organization which culminated in GM¡¯s M-form model. Here, CEO like Jack Welch is the hero. Such an organization is effective when the environment is stable and predictable. But since 1970s, things have changed. Uncertainties have been amplified with the hypercompetition on global scale. Now the framework to interpret the signal from environment, itself should incessantly and systemically be adapted to turbulent reality. Knowledge and innovation have come the words of the day. Not surprisingly, there has been growing dissatisfaction with traditional organizational structure. Kao¡¯s CEO, Maruta put it in this way: ¡®The intelligence of a firm does not come from the president nor top management. That must come from the gathering of all knowledge of all members.¡¯ This book is about to how to build organization as the effective innovation site. To do so, all the available knowledge in and out of company should be able to be mobilized and freely flow throughout the firm. For instance, front line employees are constantly in direct touch with the outside world. They can obtain access to the up-to-date info on the market, technology, or competitors. But their knowledge is, in most cases, not able to be expressed in explicit way. Generally, it¡¯s the tacit knowledge. But to survive more and more intensified competition, the firm should be apt to mobilizing their tacit knowledge. To achieve such a goal, task force or bottom-up organizational model emerged. In those model, the creative knowledge worker, in Peter Drucker¡¯s term, is the hero. But in those models, knowledge tends to be confined to narrow front line, and comes and goes with creative employees. And worse, the firm can¡¯t react as an efficient unit to threats from environment. As a result, innovation is the haphazard event. So there should be some integrating mechanism like hierarchy. To be efficient unit, knowledge should flow all over the company. Here, authors rediscover the significance of middle managers. They play the role of midwife and amplifier of knowledge from front line employees and between various divisions in the firm. They coordinate the flow of knowledge and maintain the firm as a coherent knowledge-creating unit. In short, the firm should be organized as the melting pot of member¡¯s knowledge. Authors take examples from Japanese firms to illustrate what¡¯s like such a site.

A look at knowledge creation.......2001-11-26

I came to this book through a reference in Novak & Gowin. What caught my eye was that someone was willing to talk about an epistemological stance other than the analytic, reductionist view held in science. For the most part, I found this book's understanding of Western epistemology to be reasonable; I can't speak for the Japanese epsitemology cited. What interested me, and for which I recommend the book, is their view of knowledge creation. The case studies lend weight to their view, but they do explicate a possible model for turning subjective knowledge into explicit knowledge. They suggest a management model for making it happen. The book is very well written and edited.

I believe the book needs a very careful read *outside* the business community. I would put this book down as the business version of Feynman's *The Character of Natural Law*.

An essential book on knowledge management.......2001-09-28

This is perhaps one of the most important books presently available on knowledge management. The authors demonstrate how 'knowledge' is vital to innovation within Japanese firms, with clear distinction made between 'tacit' and explicit' knowledge. An effort is made to distinguish the differences between Japanese and Western firms through an emphasis on the importance of 'tacit' knowledge and a 'middle-up-down' management process. Other than Chapter 2 (a review of philosophical background relating to epistemology which might put some readers off), this book has minimal jargons and complexities and would be an easy and enjoyable read even for non-academics. The arguments presented by the authors are well-illustrated with relevant industrial examples. Overall, this is a book that not only brings a new perspective to knowledge management but also raises questions for the ardent researchers who might ponder over its relevance to non-Japanese firms.

The Selection Process for Capital Projects (Wiley Series in Engineering and Technology Management)

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Excellent Concepts
This book does not live up to its name!

The Selection Process for Capital Projects (Wiley Series in Engineering and Technology Management)
Hans J. Lang , and Donald N. Merino
Manufacturer: Wiley-Interscience
ProductGroup: Book
Binding: Hardcover

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Managing the Risks of Organizational Accidents
Managing High-Technology Programs and Projects, Third Edition
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Management Science and Decision Technology

ASIN: 0471634255

Book Description

Reviews basic principles and presents techniques for evaluating and making decisions about investments and the acquisition of capital projects in industry and the private sector. Provides management and control techniques for construction of facilities or installation and operation of machinery and equipment. Covers sensitivity analysis and methods for ranking projects. Discusses the limitations of various methods. Explains how to carry out economic studies for the proper allocation of capital spending.

Customer Reviews:

Excellent Concepts.......2004-05-04

While there is no disagreeing that this book is written at an advanced level, it does clearly present key concepts that are often difficult to understand apart from each other. I used a newer version of this book in Merino's class, and it really is the best book in its class.

Some of the more complex topics like multi-attribute analysis and risk management are presented well. After-tax analysis is not presented in as much depth as I would have liked, but after going through the examples the topic becomes clear.

Overall this book is excellent. It is a must read for those aspiring to go into management or get an MBA one day.

This book does not live up to its name!.......1998-06-21

Having used the book in the course taught by Merino, I have noticed that the examples given at the end of each chapter are erroneous in nature. Many a time, I have found that the book lacks the basic elements of engineering economics. This book is definitely not for undergraduates.

The IT Payoff: Measuring the Business Value of Information Technology Investments

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The IT Payoff Review
The IT Payoff: Measuring the Buiness Value of Information Technology Investments
The book is great however . . . . .
Great articulation of issues, poor analysis of solutions
Fantastic Work

The IT Payoff: Measuring the Business Value of Information Technology Investments
Sarvanan Devaraj , and Rajiv Kohli
Manufacturer: FT Press
ProductGroup: Book
Binding: Hardcover

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Similar Items:

Effective Measurement and Management of IT Costs and Benefits, Second Edition (Computer Weekly Professional Series)
From Business Strategy to IT Action: Right Decisions for a Better Bottom Line
IT Investment: Making a Business Case (Computer Weekly Professional Series)
Harvard Business Review on the Business Value of IT (Harvard Business Review Paperback Series)
Achieving Business Value From Technology

ASIN: 0130650749

Book Description

Does technology really add value? If so, when? What's the best way to quantify and maximize technology ROI? The IT Payoff gives you powerful new tools for answering critical technology investment questions. Discover where technology can add the greatest value; when to adopt new technologies; how to coordinate process and technology change, and more. Includes new metrics, hands-on templates, and a complete action plan for making smarter funding decisions!

One of the 5 Best Technology Books as cited by About.com

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Customer Reviews:

The IT Payoff Review.......2007-02-20

Easy to read book. Get's straight to the point. However, the case studies are out of date. A new, updated version is needed!

The IT Payoff: Measuring the Buiness Value of Information Technology Investments.......2006-11-10

Practical methodogy was introduced, it provides specific templates, metrics, and tools for making funding and IT investment decisions. It should be recommended reading for IT executives and managers.

The book is great however . . . . ........2005-05-07

The content appears to be good however I made the mistake of buying the digital e-book version without knowing that there is a form of protection that doesn't permit printing to paper.

The only reason I purchased it in this format was I needed it very quickly (I'm in Australia) for an assignment due this week so I can PRINT the book out, read it now and while travelling to and from work.

What a bloody shame. Amazon - why don't you highlight the above fact at least against all applicable e-books you sell so that the customer knows before he/she splurges any money instead of hiding it in a help or FAQ file. Last time I'll buy an ebook from here or anywhere where I can't print it out.

Great articulation of issues, poor analysis of solutions.......2003-10-30

I have trouble in understanding how this book got such positive reviews. I found it to provide a very eloquent and succinct description of the issues, but nothing very insightful in terms of solution, or recommendations. The model they present is obvious to the point of uselessness, and does not offer any real help in how to evaluate investments more effectively. Specifically what is missing for me is that the authors are still tied to the world where the IT project deliverers take no responsibility for the business (financial) outcome of their work. What I'm looking for is a proposal for model of IT projects that brings the business value into the heart of the project methodology, rather than as a parallel exercise.

In summary the book is painfully academic with fleeting references to a small number of case studies. This is a book that brings nice introduction to the issues for a student, but is of no value to the practitioner. This is an important area and it deserves more.

Fantastic Work.......2003-07-23

Clearly written, conveys the essence of making IT worthwhile. This book makes be believe in the long term promise of IT.

I particularly like the practical applications and references to successful methods. This book provides well grounded and leading edge, yet practical, methods to improve IT returns.

Overall, this book gives a clear road to increasing the value of the IT investment. Each organization should weigh which aspects to apply in its practices.

The main method is the age-old concept of measure what you want to manage. The book builds extensively on this concept and provides clear direction.

Although the manage by facts and measure, measure, measure themes are common in business thought, the proper application to the issues in corporate IT are insightful.

The pedigree and background of the authors is impressive. Combined with their experience and demonstrated rigour, this gives the book a basis of actionable credibility.

Book Description

The Production and Distribution of Knowledge in the United States marked the beginning of the study of our postindustrial information society. Austrian-born economist Fritz Machlup had focused his research on the patent system, but he came to realize that patents were simply one part of a much bigger "knowledge economy." He then expanded the scope of his work to evaluate everything from stationery and typewriters to advertising to presidential addresses--anything that involved the activity of telling anyone anything. The Production and Distribution of Knowledge in the United States then revealed the new and startling shape of the U.S. economy.

Machlup's cool appraisal of the data showed that the knowledge industry accounted for nearly 29 percent of the U.S. gross national product, and that 43 percent of the civilian labor force consisted of knowledge transmitters or full-time knowledge receivers. Indeed, the proportion of the labor force involved in the knowledge economy increased from 11 to 32 percent between 1900 and 1959--a monumental shift.

Beyond documenting this revolution, Machlup founded the wholly new field of information economics. The transformation to a knowledge economy has resonated throughout the rest of the century, especially with the rise of the Internet. As two recent observers noted, "Information goods--from movies and music to software code and stock quotes--have supplanted industrial goods as the key drivers of world markets." Continued study of this change and its effects is testament to Fritz Machlup's pioneering work.

Understanding the Markets (Securities Institute Global Capital Markets Series) (Securities Institute Operations Management)

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Understanding the Markets (Securities Institute Global Capital Markets Series) (Securities Institute Operations Management)
David Loader
Manufacturer: Butterworth-Heinemann
ProductGroup: Book
Binding: Paperback

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Clearing, Settlement and Custody (Securities Institute Operations Management)
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Back Office and Beyond

ASIN: 0750654651

Book Description

An analysis of the major securities, derivatives and money markets from an operations point of view, 'Understanding the Markets' takes the reader through the major features and characteristics of the markets and the products. The relationship between the trading and dealing functions and the operations functions is examined and the issues discussed.

This book looks at the financial markets from the viewpoint of the person working in the operations functions that support the trading, dealing and investment processes, and as such is essential reading in order to fully understand the industry - an industry which has gone, and is still going through, much change.

As the markets undergo change so too do the administration, clearing and settlement functions, as the clearing houses, securities depositories and custodians merge and diversify. This is going to impact on the operations teams that support the trading, sales and retail business. A failure to be aware of and to understand the impact of changes in the markets will create massive problems, greater risk and ultimately financial losses. And yet the sheer size and diversity of the global markets, together with the rapid pace of change and expansion, and the increasing volume of transactions needing to be processed, presents a massive challenge to operations teams and managers.

Knowing how the markets work and what impacts on the operations team is crucial for managers and supervisors. In this book the author provides a full explanation of the markets and their impact in operations terms. So if you are about to embark on a career in operations 'Understanding the Markets' is essential reading. Alternatively, if you are planning a career as a dealer it will prove very useful in explaining the process that occurs after you have traded.

The definitive series of professional references for those finance professionals concerned with "Back office" or operations management unique to this industry.Presents concise references on the essential management functions such as technology, client services, and risk management for financial operations management professionals.A comprehensive resource from a leading financial management consultant for global banks and institutions.

Technology and Capital in the Age of Lean Production: A Marxian Critique of the "New Economy" (S U N Y Series in Radical Social and Political Theory)

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Refuting the "new economy" utopians
Good critique of the "new economy"

Technology and Capital in the Age of Lean Production: A Marxian Critique of the "New Economy" (S U N Y Series in Radical Social and Political Theory)
Tony Smith
Manufacturer: State University of New York Press
ProductGroup: Book
Binding: Paperback

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The Limits to Capital, New Edition
Capital: Volume 1: A Critique of Political Economy (Penguin Classics)

ASIN: 079144600X

Customer Reviews:

Refuting the "new economy" utopians.......2007-02-24

Tony Smith's "Technology and Capital in the Age of Lean Production" is an extremely thorough and detailed analysis of the process of lean production, its comparison to Fordism, the viability of the claims of lean production proponents, and the phenomenon's implications for Marxist theory. Smith goes into astounding detail in describing and analysing the shopfloor nuts and bolts of lean production as well as the ways in which different units of capital interact in this production form, and he shows that it is, indeed, a structurally new way of proceeding compared to the Fordist factory production that has dominated capitalism since the interbellum.

The various chapters are devoted to assessing every aspect of lean production from the perspectives of its supporters and subsequently of Marxist theorists, and this is not limited to just the surface phenomena of the production process - deskilling and globalization are given their due in this book as well. Refuting such silly "new economy" enthousiasts like Florida, Kenney and Womack, political philosopher Tony Smith demonstrates the complete applicability of the Marxist critique of capitalism to each and every real development demonstrable in lean production, and also that the change from Fordism to lean production serves to confirm rather than disprove the expectations of Marx & Engels on the relevant points. The final chapter then provides an alternative way of producing as conceived by Tony Smith, which seems to be basically a form of market socialism, heavily leaning on David Schweickart. Personally I consider market socialism to have significant flaws, but that need not detract from this book's value (and the chapter is rather an aside anyway).

It must be said that this book is written in a rather dry style, especially in the first chapters, and some intermediate knowledge of microeconomics is recommended. The very detail and in-depth discussion of the production processes and the various specialists' commentary on them make for excruciatingly slow reading, so that the just over 150 pages of actual text in this book may take as much as twice the usual time. But if one can find the patience, this book is very rewarding for any radical with an interest in economics.

Good critique of the "new economy".......2001-03-08

Interesting marxian critique of the lean production system. Discusses globalization, skill, just-in-time production. Smith argues that "lean production" is a worthwhile analytical category. He further argues that the claims made for lean production by the "new capitalist utopians" are unfounded, and that lean production modifies capital's antagonisms rather than resolves them.

Rather poor idea of what socialism might be, but you can't expect everything.

States & Capitals Workbook & Music CD
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States & Capitals Workbook & Music CD
Twin Sisters Productions
Manufacturer: Twin Sisters Productions
ProductGroup: Book
Binding: Paperback
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Rand McNally Schoolhouse U.S. States & Capitals Flashcards And Games

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Product Description

Learning the 50 United States and their capitals is as easy as singing a familiar tune! Introduce each state with an interesting fact about the states history, geography or a famous attraction. Learn the states in alphabetical orderslow at first and then double-time for even more fun! Finally, learn each state and its capital in rhythm. The 96-page companion workbook features a profile of each state: Region, Abbreviation, Statehood, Nickname, Capital, Largest City, Size, Population, Industry, Bordering States, Presidents, Flower, Tree, Bird, and Flag. Create your own MapAdventure highlighting the states youve visited. The Pocket-sized Study Guide is great review anytime, anywhere. Play the What State Am I? question and answer game or sort, compare, and collect the states with The United States Trading Card Game. Use the Piano-Vocal Score, Instrumental Tracks, and Readers Theater lyrics for a great classroom production. Ages 7 12 Approximate Run Time: 40:00 Music CD with original songs that teach all 50 U.S. States & their Capitals 50 State Profiles including Region, Abbreviation, Statehood, Nickname, Capital, Largest City, Size, Population, Industry, Bordering States, Presidents, Flower, Tree, Bird and Flag Pocket-sized Study Guide to the 50 States & Capitals The United States Trading Card Game players sort, compare, and collect the states by region, population, size, or statehood Which State Am I? Card Game MapAdventurecreate your own US Map Puzzles, Games, and Activity Sheets Instrumental Performance Tracks and Readers' Theater Lyrics for classroom productions Piano-Vocal Score Included

Deindustrialization of America: Plant Closings, Community Abandonment and the Dismantling of Basic Industry

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Hollowing-out the USA
An Enduring Classic
Transition from manufacturing to service industry

Deindustrialization of America: Plant Closings, Community Abandonment and the Dismantling of Basic Industry
Barry Bluestone , and Bennett Harrison
Manufacturer: Basic Books
ProductGroup: Book
Binding: Hardcover

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The Great U-Turn: Corporate Restructuring and the Polarizing of America
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Nickel and Dimed: On (Not) Getting By in America

ASIN: 0465015905

Customer Reviews:

Hollowing-out the USA.......2006-05-07

"The DeIndustrialization of America" explores the problem of multinational corporations reducing their US industrial payrolls and directing all investment to foreign countries. Multinationals produce abroad for sale into the United States, thereby making American workers compete against foreign starvation wages.

The federal tax code actually encourages speculation, mergers and acquisitions, and foreign rather than domestic investment.

Unbelievably, the taxpayers, through the US Export-Import Bank finance the transfer of equipment from American plants to subsidiaries in the Third World. This capital flight is also creating and financing our own future competition.

We are also creating a dual economy at home, have/have not, with a missing middle class. Most Americans are aware that this nation has experienced widespread closing of industrial facilities. Probably a lot fewer realize that our standard of living is lower than in Switzerland or Denmark.

We can look forward to unemployment, underemployment, and increased government costs for welfare & food stamps. These jobs are being replaced (if at all) by jobs with less pay and benefits, less security, and often part-time work. Also the ripple effect touches everyone in town, and of course the charities. Loss of property taxes affects schools and police.

This book's conclusion is that the global economy is synonymous with a reduced standard of living for all Americans. The trend will end with Third World status for the US, and inability to afford our current large social safety net (entitlement programs). Without a middle class, there will be nobody to pay for it. Reducing government social programs will be mandatory.

Unfortunately, the book's style was dry like a college textbook, with plenty of statistics and charts and too much effort to explain opposing viewpoints.

The last 70 pages are pure leftist drivel. The solutions? More of the same things that goofed things up in the first place! Central planning and "lively experimentation with bureaucratic forms." The book was great on defining the problem, clueless about the solution.

An Enduring Classic.......2001-02-24

Out of print? This book should never be out of print. But then again, Jean Renoir's Rules of the Game was almost destroyed during the Second World War. Greatness is sometimes fragile.

Barry is something of a personal hero of mine so I do have a bias of sorts regarding this book and its follow-up, The Great U-Turn. Reviewing this book is like reviewing a classic music album: everything written in the last 20 years about Economic Policy and investment has been influenced by what Barry and Bennett wrote here and there is no more hated book by Reaganauts who would like you to believe THIS NEVER HAPPENED.

This book was the first book to talk about how industry in the United States was dismantled, in particular the Auto and Steel Industries of the midwest. The book traces decisions made by corporations in the 1970's and why these decisions were made, in light of perceived opportunities in Central America and the Far East. Could have the decision been made to do the reinvestment in the US (particularly in light of the modern day relative success of Saturn)? The answer is clearly not without the calculated weakening of powerful unions in auto and steel. If the unions were weakened, however, communities such as Flint, Michigan and Youngstown, Ohio were almost wiped out by disinvestment. There was considerable denial at the time about what was happening but Barry and Bennett's book makes clear that industry was dismantling and disinvesting and not coming back.

The awareness raised by this book probably saved a bad situation from becoming much worse. If the dinosaurs left the continent, though, maybe in retrospect we are better off for their having left. Car makers from Japan and Korea have been willing to make the autos that US carmakers have only made with the greatest of reluctance, and creating assembly plants here in the US as well. But it has taken a generation to recover from the wholesale deindustrialization and the cost was much greater than people should have been asked to bear.

Never again should American industry be allowed to tear out its roots and toss them aside. If you want to know why, this is the book to read. Please read the great final chapter on Reindustrialization with A Human Face for helpful guidance and insight on where to go from where we are at, insight that 20 years later still makes a great deal of sense.

Transition from manufacturing to service industry.......2000-12-01

From the backdrop of World War II, American business emerged as the World's undisputed industrial economic leader and lender. The expansion of American investment in Europe, Asia, the Americas, and further assured its prominence by the establishment of the U.S. currency as the capitalist world's principle reserves, while labor strenuously acquired the motifs of a welfare state. Such unprecedented success created an ambivalent relationship between capital and labor where each party had acquired a win-win situation. This brief cease-fire came to an abrupt halt with the threat of foreign competition and sluggish growth development spurred what Bluestone and Harrison termed as the `deindustrialization' of America. In a panic to maintain the capitalist status quo, business owners closely emulated Japanese zaibatsu's in purchasing many non-related businesses to expand their economic clout versus improving their current facilities. The failure of industries meeting excessive profit percentage justified many corporate executives of closing down factories to minimize labor costs and outsource to less constraining economic contingencies and forever disrupting people's and the communities livelihood. Drastic improvements in network technology, communication and transportation permitted micro and macro control of factories despite distance. Thus companies are no longer confined by regional or national boundaries can effectively utilize segmentation tactics against unions, local, state, and national officials in gaining unequal terms. Corporate outsourcing has manifested itself into dual the phenomenon of boom-town and bust-town causing unforeseen problems. American urban areas such as Houston and Silicon Valley have grown in attracting Northern city businesses, foreign investment, and becoming known as tax heavens.

Econometrics, Vol. 1: Econometric Modeling of Producer Behavior

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Econometrics, Vol. 1: Econometric Modeling of Producer Behavior
Dale W. Jorgenson
Manufacturer: The MIT Press
ProductGroup: Book
Binding: Hardcover

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ASIN: 0262100827

Book Description

The objectives of econometric modeling of producer behavior are to determine the nature of substitution among inputs and outputs and of differences in technology, as well as the role of economies of scale in production. Recent advances in methodology, based on the dual formulation of the theory of production in terms of prices, have enabled econometricians to achieve these objectives more effectively. This volume summarizes the economic theory, the econometric methodology, and the empirical findings resulting from the new approach.

Knowledge Capital and the New Economy: Firm Size, Performance and Network Production

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Knowledge Capital and the New Economy: Firm Size, Performance and Network Production
Pontus Braunerhjelm
Manufacturer: Springer
ProductGroup: Book
Binding: Hardcover

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ASIN: 0792378016

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According to its proponents, the `new economy' is associated with sustainable growth, increased demand for labor and zero inflation. On the micro-level, this bright avenue into the future is propelled by knowledge capital, flexibility and new ways of organizing production, such as clusters and networks. Progress in information technology, together with massive deregulation on the national and the international levels, have been credited with setting this development into motion. The concept of the `new economy' has been rapidly embraced by politicians, as it seems to offer a way out of the traditional trade-off between unemployment and wage inflation. However, empirical evidence regarding the microeconomic mechanisms of the `new economy' is scarce. Knowledge Capital and the `New Economy': Firm Size, Performance and Network Production intends to narrow this gap by empirically analyzing the composition of knowledge capital and how knowledge capital is distributed across firms of different size. Moreover, the impact of knowledge capital on firms' profitability and international competitiveness is also examined. Finally, we compare cluster dynamics and the institutional set-up in Europe and the U.S., with the purpose of identifying regulations that seem to hinder a conducive environment for expanding and dynamic European clusters. The results of this study emphasize the role of knowledge capital and flexibility. Thus, irrespective of how sustainable the `new economy' turns out to be, the policy implications in terms of providing institutions that facilitate knowledge-enhancing economic activities, flexible markets and transparent incentive structures are undeniable. Countries that fail in this respect may find themselves trailing in the international growth and welfare rankings.

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