The New Economics for Industry,
Government, Education - 2nd Edition
by W. Edwards Deming
A Must Read For Everyone!
. . . 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.
In this book W. Edwards Deming details the system of transformation that
underlies the 14 Points for Management presented in Out of the Crisis.
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
Demings philosophy is his advice to abolish performance reviews on the
job and grades in school. previously published by MIT-CAES

Personal Review: The New Economics for Industry,
Government, Education - 2nd Edition by W. Edwards Deming
I was assigned this book for a statistical quality control class. When I found
out that I was supposed to read an additional book for the class, I was not
too excited. I am not one to enjoy having additional reading pushed on me;
however, this book proved to be an exception. I can with all honesty say
that this book was a pleasure to read.
First a little about the author. Deming is arguably the greatest visionary in
the fields of quality control, process improvement, and management
revision. In short, he has a lot of great things to say about corporate
America.
Unlike a lot of independent works on corporate America, this book does
not get lost in the technical and theoretical aspects of problems and
solutions. The New Economics uses simple logic and useful reasoning to
make points about the current state of things in United States, and what
should be done to improve upon them. Even topics such as the use of
control charts or the causes of variation are covered in such a
straightforward way, that even a person that has never taken a statistics
class in their life can understand it. Now, It is important to note that while
this book does take a very simplistic approach to topics that are typically
hard to grasp, the book is by no means trivial. The book makes many
profound points that are truly eye opening. I found myself on more than
one occasion slap my head saying, "Wow! That is so ridiculously obvious! I
can't believe I have never thought of that before."... and sometimes, "Wow!
That is so obvious! I am seriously disappointed no one in corporate
America is acting like this!"
Really, the only bad thing I have to say about this book is that Deming
tends to be a bit idealistic when it comes to the worker. He believes that if
given favorable circumstances, workers will perform well. I can say from
personal experience that I have seen workers that have been given every
advantage conceivable, and they still show lack of initiative and capability.
Deming on the other hand indicates that pretty much any worker is a good,
and that if problems occur, blame should fall on upper management. This
is really the only point Deming makes that I do not fully agree with.
So, I am not one to sweet-talk something unless I truly stand behind, and I
can say, I truly stand behind this book. There are many profound insights
in The New Economics that I will carry with me for the rest of my life. All in
all, this book is an inspiring read.
I suggest you buy this book... or at the very least see if your library has a
copy and read it!
Topics Covered in The New Economics:
General Views on Corporate America

Current Wasteful Behavior
Setting up a System with a Goal
Theory of Profound Knowledge
The Role of Management
Need for a Cooperative System
The Red Beads Experiment
Using Control Charts
The Funnel Experiment
Understanding Variation
Pros:
Very eye opening insight
Defended with sound logic
Simple explanations
Good examples
Only 230 pages; 10 chapters
Cons:
Idealizes Human Nature
I Didn't Read this Book Sooner
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