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Enter the washing machine Now, whatever the movements in the relative prices of 'people' and 'things', the fall in the share of people working as domestic servants would not have been as dramatic as it has been in the rich countries over the last century, had there not been the supply of a host of household technologies, which I have represented by the washing machine. However ..

Adam Smith famously said: 'It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.' The market beautifully harnesses the energy of selfish individuals thinking only of themselves (and, at most, their families) to produce social harmony. Communism failed because it denied this human instinct..

What they tell you The recent revolution in communications technologies, represented by the internet, has fundamentally changed the way in which the world works. It has led to the 'death of distance'. In the 'borderless world' thus created, old conventions about national economic interests and the role of national governments are invalid. This technological revolution defines ..

Shareholders may be the owners of corporations but, as the most mobile of the ‘stakeholders’, they often care the least about the long-term future of the company (unless they are so big that they cannot really their shares without seriously disrupting the business) Running the company for the shareholders often reduces its long-term growth potential 『by Ha-Joon Chang, Th..

Peter Drucker had it right when he wrote in The Effective Executive(HarperBusiness,1993): “The foundation of effective leadership is thinking through the organization’s mission, defining it and establishing it, clearly and visibly. The leader sets the goals, sets priorities, and sets and maintains the standards." 『Jack Trout, Big Brands Big Troubleds, p246, Published by ..