Archive: Business and Economics

Posted on March 20th, 2009 by by Joel J. Miller

Working in uncertainty

The book business isn’t doing too well in America right now. Sales are down. Returns are up. And foot traffic in bookstores is in double-digit decline compared to a year ago.
But that’s not the case everywhere. From its lofty seat in the lap of America’s publishing culture, the New York Times recently reported that things [...]

Tags: , , , ,

Posted on March 12th, 2009 by by Joel J. Miller

More customers, fewer consumers

To succeed in business you need to “meet the needs of consumers,” right? It’s so hackneyed it must be true. It’s so true it must be wrong.
To get what I mean, see how this strikes you. It’s from the jacket copy of Paul Nunes and Brian Johnson’s book Mass Affluence: Seven New Rules of Marketing [...]

Tags: , , ,

Posted on March 11th, 2009 by by Joel J. Miller

Authentic growth

Yesterday the stock market surged. The Dow shot up 380 points, the Nasdaq nearly 90. But while I was rifling through my bedside drawers for some Dramamine, I heard this: House Speaker Nancy Pelosi wants to keep the federal coffers open for additional stimulus packages. I got nauseous for a whole different reason. Didn’t we [...]

Tags: , , , ,

Posted on October 31st, 2008 by by Joel J. Miller

What politics learned from pulpits

What’s the connection between political campaigns and megachurches? As this post explains, the secret to building a successful megachurch is in evangelizing people inside cultural subsets rather than imploring people to venture outside of their subset. Political machines are putting the same strategy to use. Here’s the underlying cultural dynamic at play:
Neighbors witnessing to neighbors [...]

Tags: , , ,

Posted on April 24th, 2008 by by Joel J. Miller

Empathy of labor

I make books. I don’t make shoes. But if it would help me make better books, then maybe I should learn what goes into making a pair of shoes. The division of labor allows specialists to focus on their strengths in the marketplace. The idea is as good and useful today as it was when [...]

Tags: , , , ,

Posted on January 19th, 2008 by by Joel J. Miller

The wealth of (Western) nations

“Calvinism is evidently connected with the commercial vocation,” writes Luigi Barzini in The Europeans. “It is not clear to an Italian [like the author], however, whether Calvinists, driven by their stern religious code, become the best merchants, or whether merchants become Calvinists because Calvinism is a superior guide for the successful conduct of business.”
It turns [...]

Tags: , , , , , ,

Posted on June 20th, 2007 by by Joel J. Miller

Adam Smith for dummies

Despite their obvious differences, Das Kapital and The Wealth of Nations share at least one similarity: Nobody reads them. In the case of Karl Marx, this is no tragedy. Thanks to the colorful antics of history (many of them sticky and sanguinary), anyone can see that the bewhiskered dreamer was full of crap.
Not so with Adam [...]

Tags: , , , , ,