The New Economics for Industry, Government, Education

The New Economics for Industry, Government, Education

The New Economics for Industry, Government, Education

Author: W. Edwards Deming

In this book, W. Edwards Deming details the system of transformation that underlies the 14 Points for Management presented in Out of the Crisis.

“… competition, we see now, is destructive. It would be better if everyone would work together as a system, with the aim for everybody to win. What we need is cooperation and transformation to a new style of management.”

The system of profound knowledge, as it is called, consists of four parts: appreciation for a system, knowledge about variation, theory of knowledge, and psychology. Describing prevailing management style as a prison, Deming shows how a style based on cooperation rather than competition can help people develop joy in work and learning at the same time that it brings about long-term success in the market. Indicative of Deming’s philosophy is his advice to abolish performance reviews on the job and grades in school.

Evan’s Review: This should be required reading for any business leader. While this book is about 30 years old, it is as relevant today as it was in the 80’s. Too many managers and business leaders do not correctly understand the impact of waste and how to manage it. Although written in the context of American manufacturing, this is a call to action for all companies to address systemic problems in the way that western management operates.

Although, make sure you read Out of the Crisis first.

Buy a copy: Amazon link

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