A highly useful primer for investors and board members alike.
Economist Moyo, who serves on numerous corporate boards, explains their inner workings in admirably clear language.
“Strong and successful corporations are in the best interest of society. Indeed, the centrality of corporations to human progress cannot be overstated.” So writes Moyo, gainsaying those who argue that corporations are evil, outmoded, or both. As a board member, the author writes that she has seen numerous failures short of bankruptcy and just as many successes, even in difficult times. Agreeing that corporate boards need more diverse membership while arguing against quota appointments, Moyo holds that boards have an overarching function that is often ignored: While a CEO is in charge of daily operations, a board of directors and its various committees are collectively responsible for setting and maintaining long-term goals and visions, with “an important and central role to play in navigating global disruption.” The author is at her best when she focuses on that disruption and its many sources—e.g., competition from China, the imposition of trade barriers and other protectionist measures, the fallout from Brexit, Covid-19, the ascent of social media. For all that, she also notes that boards must fight the temptation to micromanage and to enter the realm of short-term thinking rather than long-term strategic decision-making. Boards must also become more aware of the life cycle of a business. Corporations typically last as long as mortgages do these days, not centuries as in the days of old, and even Jeff Bezos has predicted that Amazon and other large companies of today will be gone in 30 years. Finally, Moyo notes, corporate boards are increasingly called on to safeguard values, enforce ethics, and address social concerns such as gun control, data privacy, and mental health. “Society is holding companies to account precisely because these issues are important and not going away,” she writes. “In fact, the emphasis is likely only to increase.”
A highly useful primer for investors and board members alike.Pub Date: May 4, 2021
ISBN: 978-1-5416-1942-5
Page Count: 304
Publisher: Basic Books
Review Posted Online: March 9, 2021
Kirkus Reviews Issue: April 1, 2021
BOOK REVIEW
BOOK REVIEW
Cogent, well-timed ideas for meeting today’s biggest challenges.
Helping liberals get out of their own way.
Klein, a New York Times columnist, and Thompson, an Atlantic staffer, lean to the left, but they aren’t interrogating the usual suspects. Aware that many conservatives have no interest in their opinions, the authors target their own side’s “pathologies.” Why do red states greenlight the kind of renewable energy projects that often languish in blue states? Why does liberal California have the nation’s most severe homelessness and housing affordability crises? One big reason: Liberal leadership has ensnared itself in a web of well-intentioned yet often onerous “goals, standards, and rules.” This “procedural kludge,” partially shaped by lawyers who pioneered a “democracy by lawsuit” strategy in the 1960s, threatens to stymie key breakthroughs. Consider the anti-pollution laws passed after World War II. In the decades since, homeowners’ groups in liberal locales have cited such statutes in lawsuits meant to stop new affordable housing. Today, these laws “block the clean energy projects” required to tackle climate change. Nuclear energy is “inarguably safer” than the fossil fuel variety, but because Washington doesn’t always “properly weigh risk,” it almost never builds new reactors. Meanwhile, technologies that may cure disease or slash the carbon footprint of cement production benefit from government support, but too often the grant process “rewards caution and punishes outsider thinking.” The authors call this style of governing “everything-bagel liberalism,” so named because of its many government mandates. Instead, they envision “a politics of abundance” that would remake travel, work, and health. This won’t happen without “changing the processes that make building and inventing so hard.” It’s time, then, to scrutinize everything from municipal zoning regulations to the paperwork requirements for scientists getting federal funding. The authors’ debut as a duo is very smart and eminently useful.
Cogent, well-timed ideas for meeting today’s biggest challenges.Pub Date: March 18, 2025
ISBN: 9781668023488
Page Count: 320
Publisher: Avid Reader Press
Review Posted Online: Jan. 16, 2025
Kirkus Reviews Issue: Feb. 15, 2025
BOOK REVIEW
PERSPECTIVES
Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our...
A psychologist and Nobel Prize winner summarizes and synthesizes the recent decades of research on intuition and systematic thinking.
The author of several scholarly texts, Kahneman (Emeritus Psychology and Public Affairs/Princeton Univ.) now offers general readers not just the findings of psychological research but also a better understanding of how research questions arise and how scholars systematically frame and answer them. He begins with the distinction between System 1 and System 2 mental operations, the former referring to quick, automatic thought, the latter to more effortful, overt thinking. We rely heavily, writes, on System 1, resorting to the higher-energy System 2 only when we need or want to. Kahneman continually refers to System 2 as “lazy”: We don’t want to think rigorously about something. The author then explores the nuances of our two-system minds, showing how they perform in various situations. Psychological experiments have repeatedly revealed that our intuitions are generally wrong, that our assessments are based on biases and that our System 1 hates doubt and despises ambiguity. Kahneman largely avoids jargon; when he does use some (“heuristics,” for example), he argues that such terms really ought to join our everyday vocabulary. He reviews many fundamental concepts in psychology and statistics (regression to the mean, the narrative fallacy, the optimistic bias), showing how they relate to his overall concerns about how we think and why we make the decisions that we do. Some of the later chapters (dealing with risk-taking and statistics and probabilities) are denser than others (some readers may resent such demands on System 2!), but the passages that deal with the economic and political implications of the research are gripping.
Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our minds.Pub Date: Nov. 1, 2011
ISBN: 978-0-374-27563-1
Page Count: 512
Publisher: Farrar, Straus and Giroux
Review Posted Online: Sept. 3, 2011
Kirkus Reviews Issue: Sept. 15, 2011
BOOK REVIEW
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