Reviews (61)

The Antithesis of Winner-Take-All
If you became hopelessly depressed after reading "The Winner-Take-All Society" by Frank and Cook, then "The Long Tail" will provide you with some solace. Nothing ever reaches its logical conclusion, and economic rewards will not aggregate to the top ad infinitum. The ability to make an infinite number of copies of the "best" song or movie or book contrasts with the infinite shelf space available on the internet. "The Long Tail" demonstrates why that shelf space will be a highly democratizing force. People are always looking for something new, and the traditional, monopolistic channels (or gatekeepers) are under siege, even now.

Pop-science goes marketing
The big thing these days seems to be science writers like Malcolm Gladwell coming up with best-sellers that, charitably put, are very light on facts and very long on sometimes outlandish assertion. Chris Anderson, editor in chief of Wired magazine, joins the parade with his silly - yes, silly - claim that businesses like music and movies are no longer driven by hits, but by the "long tail." That it is the thousands of titles that people buy or rent infrequently. Somehow, according to Anderson, the idea of web merchants making a zillion titles available and some of those titles being sold or rented once or twice will be the "transformation . . . coming to just about every industry imaginable." Uh, no it ain't. Nowhere in the book does Anderson factor in the reality that someone pays for the production of all those videos and music tracks that rent or sell infrequently. Nor does he account for the reality that not every web merchant can acheive the volume of an Amazon or eBay. In other words, Anderson has discovered the obvious: if you make 30,000 movies available for rental, let's say, through a Netflix, many of the cult titles and dogs will be rented. Anderson pounds on this "long tail" effec while glossing over the fact that the neighborhood video rental store won't carry 30,000 titles. The profits from the occasionl rental of the 30,000th item on the list won't match the cost of acquiring and keeping it in stock in a store, while it makes little difference to a Netflix.
Insights that influence Google's strategic thinking.
98 Rule: Netflix reckoned that 95 percent of its 25,000 DVDs rented at least once a quarter. Amazon using an independent academic research on its book sales suggested that 98 percent of its top 100,000 books sold at least once a quarter.Digital space cost per DVD is very cheap and represent almost no physical inventory space excepting magnetic medium storage.In the sale of one or two DVDs, the traditional retail runs out of steam because it can turn inventory fast enough to pay for physical space, but the economics of online retail keep going.Eventually, Amazon will localize and print digital media using high-speed printers producing a book in seconds from an electronic catalog, the birth of a book replication. DVDs will be replaced by wireless iPods, who are paying subscribers to iTunes, will increase the speed of distribution and volume of sales of the media they prefer. The 80/20 rules are changing.
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Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Business/Economics    4. Consumer Behavior - General    5. Economic Conditions    6. Economics (General)    7. Economics - General    8. Internet marketing    9. Market segmentation    10. Marketing    11. Marketing - Research    12. Sales & Selling - General    13. Technological innovations    14. Business & Economics / Economic History   

Reviews (113)

Little more than a collection of anecdotes
Intrigued by the relative frequency of citation of this book in the new "web 2.0" universe, I was disappointed to find only a sequence of factoids on social experiments and little in the way of analysis.From the very beginning of the book the reader is invited to agree with the central thesis (that a crowd of independent individuals does better than a smaller elite group) and it very much feels like evidence is carefully selected to reinforce the author's argument.The book could have been twice as thin without losing much of its substance.I would qualify it as a light business read, entertaining but not quite convincing if you're not part of the choir.

Great book on human behavior!
If you want to know more about the importance of shedding all political alliegences and affiliations, read this book. What a wonderful body of knowledge with just the right stories to highlight the profound insights into the recesses of our heart.

Why do the Crowds buy this book if they are so Wise?
This book is basically a magazine article that has been expanded to fill out an entire book (this has been noted by others)
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Subjects:  1. Business/Economics    2. Common good    3. Consensus (Social sciences)    4. Consumer Behavior - General    5. Economic History    6. General    7. Group decision making    8. Social Science    9. Sociological Theory    10. Sociology    11. Sociology - General    12. Sociology - Social Theory    13. Business & Economics / Economic History   

Reviews (181)

Required reading for anyone serious about working on Wall Street.
Everyone has read this, and its easy to understand why. One of the best written books about Wall Street ever, Michael Lewis is superb as he goes about describing his experience at Salomon Brothers during the 1980's as a bond salesman. Introduces us to the legendary trader John Meriweather before he started Long Term Capital Management.

Interesting and well written...
This should be required reading analysts and associates along with `Monkey Business: Swinging Through the Wall Street Jungle' and `Goldman Sachs: The Culture of Success'. Each gives a different and illuminating perspective on the ups and downs of the many different departments that make up large, institutional finance organizations. Moreover, there are in totality especially useful if you have no idea about how finance actually operates on a day-to-day basis beyond what you see in your economics courses (definitely the case at Harvard, U Chicago, MIT and the like, where these firms heavily recruit). Can definitely give those without and an internship or direct experience the ability to level the playing field to a large degree.

Wall Street Demystified
For those of us that have an innate disbelief for brokers, traders, advisors and the likes working from Wall Street, this is a must read.For those of you who take lessons and advise from financial advisors, money experts, radio and TV charlatans, this book should be mandatory.
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Subjects:  1. (Michael M.)    2. Biography    3. Biography & Autobiography    4. Bonds    5. Brokers    6. Business    7. Business / Economics / Finance    8. Business/Economics    9. Corporate & Business History - General    10. Investments & Securities - General    11. Investments & Securities - Stocks    12. Lewis, Michael    13. Salomon Brothers    14. United States    15. Business & Economics / Economic History   

Reviews (11)

How innovation changed an industry and the world...
This book not only offers a fascinating glimpse into the world of shipping but also a fascinating look at how disruptive innovation can be. You get a front row seat to changes wrought by the mighty shipping container. In this very well researched book the author provides wonderful glimpses into the labour aspects, international trade aspects, finanace, technical aspects, and actual ship design & contruction. The book is destined to become a classic in detailing how innovation can radically change an industry and the world.

Boxing in goods unleashes globalization: The world is not flat
In "On the waterfront," perhaps the saddest point of the film is where Fr. Barry eulogizes K. O. Duggan, killed off by the mob. But Marc Levinson has located a larger villain, the real force that killed off so many longshoremen's careers: the standardized shipping container. While a highly trained crane operator working today's docks earns $120,000 a year, their numbers are few and few of them are former longshoremen or sons of longshoremen. And cargo handling costs have dropped over 90%. Yet this is only the start. The shipping container reducedspoilage, theft, insurance costs, delays, and the entire cost of going global. Not for anyone who doesn't work in logistics
If you work in logistics, buy this book.It is well worth trudging through the tedious parts to get to the gems.With some severe editing, pictures and diagrams it could be a best seller.But the presentation is more like that of a sterile textbook than popular writing.As someone who worked in logistics I found it interesting.But it is certainly not a book that anyone will read again and again. ... Read more

Subjects:  1. 1913-2001    2. Business & Economics    3. Business / Economics / Finance    4. Business/Economics    5. Containerization    6. Economic History    7. History    8. Industrial Design - Packaging    9. McLean, Malcolm Purcell,    10. American History    11. Business & Economics / Economic History    12. Economics    13. Maritime / nautical trades    14. Transport industries   

Reviews (79)

Well written!
The problem with most books dealing with Economics is that they are poorly presented and not enjoyable to read, being stuffed with incomprehensible graphs and technical jargon. This book avoids those pitfalls and is both entertaining and informative. Alfred Marshall would be proud.

Cogent rundown on why the economy matters to you personally
In this brief, cogent book, author Tim Harford provides an accessible, entertaining introduction to economic thinking. This deftly written report belongs on the shelf of anyone with an interest in economic matters - and as the author makes clear, everyone has an interest in economic matters. He deftly punctures the balloons of those who advocate fair trade coffee, protectionism, government-underwritten medical care and other such policies. These tactics may seem humane on the surface, but he contends that they often merely advance the selfish goals of the few at the expense of the many. If the book has a weakness, it is Harford's tendency to take certain points of political opinion for granted and to state them as moral choices without qualification or proof. For instance, he puts forth the admirable - though some would say questionable - notion that governments are obliged to cushion the shock of unemployment. That, however, is a quibble. We highly recommend this concise, comprehensive book.

Fascinating discovery of the interconnectiveness of everything
It is entirely possibly if I had had access to book like this when I was growing up, I would have become an economist. Harford takes apart many of the conundrums in our modern world and shows how trends, political and corporate decisions have all shaped the world in which we live in.
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Subjects:  1. 1990-    2. Business & Economics    3. Business / Economics / Finance    4. Business/Economics    5. Consumer Behavior - General    6. Consumer education    7. Economic History    8. Economics    9. Economics - General    10. General    11. Business & Economics / Economics / General    12. Economics | Social   

Reviews (52)

ZZZZZZZZZZZZZZZZ
This guy is boring. Yes, he has some terrific ideas, but he apparently has never heard of editing.We, the general public, do not need to know his every slightest thought and nuance. This is 400+ pages of appendices, notes, tables upon tables.I really DID want to know what the author has to say.But, as another reviewer suggested, read about every fifth page and you'll get the basic information you need. If, Mr. Florida could find a popular book editor, instead of a college textbook editor, he would have a hit and be the darling of every art town wannabe.

The creative class does not exist
The creative class does not exist. Since Richard Florida's idea of a creative class is very encompassing, he is just redefining Middle Class Professionals. What he observed and measured are just the changes in values and interests of this growing young middle class. The creative class according to Florida are just people in occupations which require high level of training and education. Many people are in these types of jobs now. They are not the creative class.
Book Hound
Author Florida may have set a record for the number of times a nonfiction writer can repeat the same handful of thoughts and still get published. To the prospective reader with an interest in the purported subject, my suggestion is to read any 5 randomly chosen pages of Florida's work, and move on to the next item on your reading list, being assured that most of the material of the remaining 399 pages was, if not exhaustively covered, at least mentioned.
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Subjects:  1. Business / Economics / Finance    2. Creative Ability    3. Economic History    4. Economic aspects    5. Economics - General    6. Regional Economics    7. Social History    8. Social Science    9. Social Stratification    10. Social aspects    11. Sociology    12. Sociology - General    13. United States    14. Work ethic    15. Social classes   

Subjects:  1. Business & Economics    2. Business/Economics    3. Industries - General    4. Economic history    5. Industry & Industrial Studies    6. International trade    7. Reference works    8. USA   

Reviews (3)

A beginning
My opinion on this book lies some where between the two already presented. The application of economics and game theory to this problem is most definitely original and is the greatest achievement of the book. It is a tribute to the authors that such a simple model that so ruthless applies Occam's razor can explain so much, however the work is flawed it simply does not reflect reality. The reasons behind democratisations are more complex than this model, as powerful as it is, can reflect. This book and the model developed within should be viewed as beginning which other works can develop and expand upon. I have no doubt that economists will continue to contibute to this field with more advanced and better models. For this reason alone political scientists and historians should not ignore this text, but rather accept it for what it is a new way of looking at an old problem.

Wielding Occam's Razor
Economists are turning their focus of inquiry to subjects that were once the exclusive preserve of their colleagues in other social sciences--history, sociology, and political science. The title of this book, "Economic Origins of Dictatorship and Democracy," appears to have been deliberately, even provocatively, chosen for contrast with its famous predecessor, "Social Origins of Dictatorship and Democracy," by the sociologist Barrington Moore. It is as if the economists are saying, "You've had your go. It is now our turn."
Interesting but ...
This substantial work provides a useful review of the relevant literature,and outlines the simple but powerful idea that the political impact of different types of assets [land, labor or capital] and the costs of repression rather than democratization are key influences on the process of democratization or political repression.This approach has however already been spelt out more succinctly by Carles Boix.
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Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Business/Economics    4. Democracy    5. Democratization    6. Economic aspects    7. Economics - General    8. Equality    9. Government - Comparative    10. Political Ideologies - Democracy    11. Politics / Current Events    12. Public Policy - Economic Policy    13. Business & Economics / Economics / General    14. Economic history    15. Political economy    16. Political structures: democracy    17. Political structures: totalitarianism & dictatorship   

Reviews (6)

Capitalismasitwasmeanttobe

An Excellent Concise Treatment of Smith
There is no good substitute for reading Adam Smith's own beautiful prose.But if you don't have the time or the inclination to do so, I would recommend The Authentic Adam Smith.Buchan summarizes Smith's life and ideas.Of special note is his ability to convey Smith's humanity.I have a few minor quibbles about emphasis, but overall the book is accurate, readable and concise.Not many books of this type can make a similar claim.

The best short treatment ever written aboutAdam Smith's philosophy
Buchan's book reveals Smith as the greatest conservative thinker and moral philosopher of the last 250 years.Clearly,Buchan is one of the very few economists who has in fact read all of Smith's Wealth of Nations(WN)and Theory of Moral Sentiments(TMS).The best lesson of this book is Buchan's overwhelming demonstration that Smithcompletely rejected the libertarian approach to economics and politics of L von Mises,Milton Friedman,Murray Rothbard,and Ayn Rand.TMS demonstrates Smith's complete and total rejection of libertarianism on moral grounds alone.Smith emphasized the neeed formoral and ethical norms as prerequisitesin a capitalist society .This review will consider only one policy area where this is demonstrated-education.
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Subjects:  1. Biography    2. Biography & Autobiography    3. Biography And Autobiography    4. Biography/Autobiography    5. Business    6. Business / Economics / Finance    7. Economic History    8. Economics    9. Economists    10. Great Britain    11. History Of Economic Thought    12. Business & Economics / Economic History    13. History    14. Miscellaneous Items   

Reviews (69)

Saudi fields are maturing
This book is very repetitive and too long, but it does contains a lot of useful information about oil fields and the complex business of getting the oil out. From the facts laid out in this book there is little doubt that Saudi oil fields are maturing with years of dependence on massive water injection and in recent years horizontal drilling to maintain high production rates.The production curves included in the book for eight large fields oil fields outside Saudi Arabia, including Prudhoe Bay Alaska, are sobering.Clearly there is some risk that in the not too distant future Saudi oil production will begin to decline.
Good Book, Needs Editing and Polishing
The message in this book is right on--Saudi Arabia is probably not as flush with oil as the world thinks it is.Simmons' thesis is a sound one and he defends it well.
Saudi Oil
A great deal of technical information that was a little overpowering at times. Never the less it makes it's case compellingly and logically. ... Read more

Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Business/Economics    4. Economic History    5. Forecasting    6. General    7. Industries - Energy Industries    8. Petroleum industry and trade    9. Petroleum reserves    10. Saudi Arabia    11. Business & Economics / General    12. International economics    13. Management of land & natural resources    14. Petroleum & oil industries   

Reviews (2)

best on the subject
This is definitely the best introductory book there is on the subject. This was a supplemental book for an undergraduate class of mine, but I read it anyway. The authors lucid writing allows this book to be thoroughly understood by all readers despite their backround in economics. I truly believe that this book should be required reading for all history, political science, finance, sociology, and economics majors.
Rockoff is the greatest American Historian ever.
Rockoff gives a brilliant account of the history of the American Economy and is possibly the best American economic historian in US history. ... Read more

Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Business/Economics    4. Economic Conditions    5. Economic History    6. United States    7. Business & Economics / Economic History    8. Economics    9. USA   

Reviews (34)

A dry examination of an intriguing story
Connie Bruck's tale of greed on (off) Wall Street in the 1980s, focusing solely on Drexel and its Milken-led rise and fall is thorough.Unfortunately, it is a little too meticulous.To understand the junk bond empire Milken created is to understand the meteoric rise and subsequent fall of both him and the company he led to prominance.But the pages upon pages of specific deal details are best understood by investment banking professionals, financiers, etc.I enjoy reading (and for the most part understand) the inner workings of wall street deals,but the level of detail Bruck provides was a little overwhelming.
Good book to inspire big thinking.
This book is fun to read and it full of interesting stories about specific takeovers and deals that took place.It is lacking however in detailing what happened to Milken in the end.
The Junk Bond King When Much of Corporate America Was His Fiefdom.
"Predator's Ball" follows the rise of the junk bond market, from Michael Milken's ambitions in the 1970s through Drexel Burnham's dominance of the market under Milken's leadership in the 1980s, including Drexel's controversial financing of high-profile hostile takeovers, to the beginning of legal trouble for Drexel in 1986. Author Connie Bruck interviewed hundreds of people over a 2 �-year period, including Drexel employees and Drexel clients, to learn what went on inside "the Department", Drexel's mythic Beverly Hills junk bond offices. Bruck becomes increasingly critical of Michael Milken's tactics as the book progresses, but it is worth noting that she did not set out to write an expos�. Bruck approached the project with sympathies "more toward Milken and his band of renegades than toward the corporate establishment they were attacking", but years of peering inside the Department changed her mind. Regardless of where your sympathies lie, there is a lot of admirable research and fascinating detail in "The Predator's Ball".
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Subjects:  1. Business    2. Business & Economics    3. Business / Economics / Finance    4. Business/Economics    5. Consolidation and merger of co    6. Consolidation and merger of corporations    7. Corporate & Business History - General    8. Drexel Burnham Lambert Incorpo    9. Economic History    10. Investments & Securities - Bonds    11. Junk bonds    12. Milken, Michael    13. Stockbrokers    14. United States    15. Business & Economics / Economic History    16. Modern fiction   

Subjects:  1. Business / Economics / Finance    2. Economic History    3. History    4. History: World    5. Reference    6. 20th century    7. Finance    8. c 1800 to c 1900   

Reviews (7)

The Limits of Hard-Rational Choice
North's work attempts to show how hard-rational choice theory and neoclassical economic theory are weak in that they argue that cooperation and coordination are not fundamental to transactions.North writes that in the "zero transaction-cost world, bargaining has no place, however, in the real world, institutions, bargaining and cooperation are necessary" (16).
Incentiv-creating institutions
The puzzle of the modern world is not that so many people are poor, but that so many are wealthy. How do democracies, with well-defined property rights and education for all com into place? In this Nobel prize winning work, North investigates some issues overlooked by most economists: the role of a society's institutions, defined as formal and informal constraints, varying from written laws to vague values (but important nevertheless) in a society. Economic theory is not able to explain the great differences in wealth between nations, argues North, and that is certainly a shame, because that would be the most interesting explanation it could possibly make. The solution is to include institutions into economic analysis. Most comprehensive book ever
Douglass North is an amazing writer. If you are purchasing this book, you probably already know what this book is about and its impact. This book, I would argue is largely responsible for his receiving the Nobel Prize in 1993.Read more

Subjects:  1. Business & Economics    2. Business/Economics    3. Economic History    4. Economic development    5. Economics - General    6. General    7. Institutional economics    8. Negotiating    9. Organizational change    10. Politics / Current Events    11. Business & Economics / Economic History    12. Political economy   

Reviews (3)

Globalization 2.0
Jeffrey Frieden, a Harvard professor specializing in international trade and finance, has written a masterly and comprehensive history of capitalism from 1870 to the present.His history of globalization reminds us that it is not a recent develpment and that its current success is not guaranteed.
Bottom Line: Unfettered Capitalism is Destructive, Need Government