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THE NEW SCIENCE OF MORALITY (3rd September 2010) 
Contributed by Chetan Parikh
I think we should differentiate three projects that seem to me to be easily conflated, but which are distinct and independently worthy endeavors. The first project is to understand what people do in the name of "morality." We can look at the world, witnessing all of the diverse behaviors, rules, cultural artifacts, and morally salient emotions like empathy and disgust, and we can study how these things play out in human communities, both in our time and throughout history. We can examine all these phenomena in as nonjudgmental a way as possible and seek to understand them. We can understand them in evolutionary terms, and we can understand them in psychological and neurobiological terms, as they arise in the present. And we can call the resulting data and the entire effort a "science of morality". This would be a purely descriptive science of the sort that I hear Jonathan Haidt advocating. Are Economists Human? (3rd September 2010)
Contributed by Chetan Parikh A controversy among economists and others interested in the limits of rational choice analysis, still running after an onset at least two decades ago, concerns whether intelligent people, and especially experts, can be subject to cognitive illusions. This note provides a striking illustration supporting that disconcerting conjecture. It analyzes the apparent inability of professional economists to give a better than chance response to a very elementary question about consumer surplus. Peter Schiff: Flying Blind (3rd September 2010)
Contributed by Chetan Parikh Watching economists and media analysts react to breaking economic news is a bit like looking at a flock of pigeons flying over the New York skyline. A true wonder of the urban landscape, the flocks can include hundreds of individuals who show an uncanny ability to stay in tight formation as the group quickly zig-zags between buildings. What may be even more remarkable than their ability to randomly fly while maintaining cohesion is the flock’s refusal to stick to any particular direction for very long, and their determination to fly feverishly without actually going anywhere. Sound familiar? Bernanke Says He Wasn't `Straightforward' on Lehman (3rd September 2010)
Contributed by Chetan Parikh Federal Reserve Chairman Ben S. Bernanke said he regretted not saying in congressional testimony shortly after the failure of Lehman Brothers Holdings Inc. in 2008 that the central bank had no authority to save the firm.
The 'Ground-Zero and Grand Staircase Escalante Mosque' (3rd September 2010)
Contributed by Chetan Parikh Regarding the media frenzy about the "Ground-Zero Mosque," Ryan Long asks: if the land surrounding the World Trade Center is so sacrosanct for some Americans, why haven't they purchased it themselves?
Sir Thomas Smith: Mercantilist for Sound Money (3rd September 2010)
Contributed by Chetan Parikh Rothbard shows that Gresham's law was introduced not by Sir Thomas Gresham but by the "arrogant, boorish, and feisty" Sir Thomas Smith the Elder (1513–1577), a bitter critic of debasement who was exiled from the court in 1549. He fought back with a book. The Magic of Procrastination (2nd September 2010)
Contributed by Chetan Parikh Oscar Wilde once said, “I never put off till tomorrow what I can do the day after.” As a university professor, I constantly see Wilde’s words put into action. Each fall students arrive to the first day of class determined to meet deadlines and stay on top of their assignments. And each fall the human weakness to procrastinate gets the best of them. After a few years of witnessing this behavior, my colleague Klaus Wertenbroch and I worked up a few studies hoping to get to the root of this problem. Our guinea pigs were the delightful students in my class on consumer behavior.
How Not to Defend Darwin on "Survival of the Fittest" (2nd September 2010)
Contributed by Chetan ParikhThe State's "Inception" Fails (2nd September 2010)
Contributed by Chetan Parikh Lew Rockwell explains that government-planned prosperity was only a dream. Massive unemployment and failing industries are the reality. Stimulus is just hitting the snooze button. The Critics of Marxism (2nd September 2010)
Contributed by Chetan Parikh It seems now that almost everyone, from journalists to academics to clergy, relies unthinkingly on Marxian doctrines. Their deterministic ideas seem impervious to any argument. Of course, they've never read Ludwig von Mises. Jonah Lehrer on The Identifiable Victim Bias & Chilean Miners (2nd September 2010)
Contributed by Chetan Parikh The miners have already survived underground longer than anyone else – they broke the 25 day record today – and will mostly like remain underground for at least another few months. The fatal flaw of Keynesian stimulus (2nd September 2010)
Contributed by Chetan ParikhFinancial Services on Aisle Nine: Wal-Mart Gives Banks a Run for Their Money (2nd September 2010)
Contributed by Chetan Parikh Despite being pilloried by the public lately, a banker's lot can't be all that bad. At least, that's what Wal-Mart executives must be thinking. Over recent months, there has been a flurry of announcements from the world's largest retailer about the expanding array of banking products sold at its U.S. stores. Company officials insist that their main aim is to reach the "unbanked" and "underbanked" with the type of low-cost services that cemented Wal-Mart's reputation as a retail giant. So do traditional retail banks on Main Street USA have reason to worry? Is Network Neutrality Permanently Stalled at the Finish Line? (2nd September 2010)
Contributed by Chetan Parikh The long-running network neutrality debate is once again front and center after another flare-up, this one stoked by a recent policy proposal jointly developed by Google and Verizon. The seven-point plan was panned by net neutrality advocates but cheered by industry players, making it unclear whether regulators, legislators and private industry can forge a deal. Among the stickiest issues is that advocacy groups continue to demand 100% network neutrality, while wireless broadband providers want the ability to manage their networks and generate enough cash flow to continue to invest in infrastructure. Anatomy of a Merger: 'Hostile Deals Become Friendly in the End, Right?' (2nd September 2010)
Contributed by Chetan Parikh When Roche Holding acquired full ownership of Genentech last year, the $46.8 billion deal was the culmination of a more than 20-year relationship between the Swiss pharmaceutical giant and the Silicon Valley biotechnology company. In a recent presentation at Wharton San Francisco, Steve Krognes -- a former Roche executive who is now senior vice president and CFO of Genentech -- talked about the pharma company's decision to pursue the merger, efforts to raise capital amid the beginnings of the 2008 recession, and the aftermath of the deal.
Feature: Diagnosing Darwin (1st September 2010)
Contributed by Chetan Parikh Darwin’s chronic, relapsing illness baffled not only the best physicians of his day, but also a considerable number of clinicians, medical researchers, psychologists and lay experts who have sought to make a posthumous diagnosis.
Why Paul Krugman Is Perhaps The Biggest Economic Optimist There Is (1st September 2010)
Contributed by Chetan Parikh Take a read through Paul Krugman's blog, and it's hard not to get pretty bummed. He has zero faith that we're taking the right policy measures, or that that the economy will recover on its own, and he's convinced that our political system has gone down the toilet, meaning there's little hope in the future for getting it right. When Deciding..Are Two Heads Better Than One? It Depends (1st September 2010)
Contributed by Chetan Parikh From coalition governments to teams of scientists, the notion that “two heads are better than one” is the en vogue approach to problem-solving these days.
The Bankrupt Finnish Welfare State (1st September 2010)
Contributed by Chetan Parikh Newsweek recently proclaimed Finland the "best country in the world." But Kaj Grüssner brings us first-hand experience with his homeland's onerous taxes, skyrocketing national debt, and byzantine healthcare system.
The Story of Stuff (1st September 2010)
Contributed by Chetan Parikh Sterling Terrell discusses a new video that condemns the existence of markets that produce. The narrator doesn't put it that way, but this is the upshot of a screed that fails to understand the benefits of either trade or production.
Mo' Money, Mo' Problems (1st September 2010)
Contributed by Chetan Parikh The US money supply can be increased at the whim of Federal Reserve officials, writes C.J. Maloney, with no compensation at all given to those whose current holdings will be debased by the newly created money.
Samsung's Lee Shifts Strategy in Challenge to Apple (1st September 2010)
Contributed by Arjun Ashar Samsung Electronics has already taken giant steps from its early days as a copycat appliance manufacturer. Now, as a consumer electronics behemoth, it has expanded beyond South Korea and the nation’s industrial, conglomerate-run shipyards, steel mills and auto plants. Logistics Sector in India (1st September 2010)
Contributed by Arjun AsharBusiness Activity in U.S. Expanded at Slower Pace (1st September 2010)
Contributed by Arjun Ashar |
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Firing new shots (20th April 2007)
Contributed by Chetan Parikh
Using lasers to trigger fusion could prove cheaper than other techniques Two Technology Executives, Two Views of the Virtues/Perils of Connectivity (12th April 2007)
Contributed by Chetan Parikh When Robert Carter looks over the connected world of online communities that many experts call Web 2.0, it is hard for Carter -- the chief information officer and executive vice president of global shipping giant FedEx Corp. -- to curb his enthusiasm. Al Nugent, the chief technology officer for computer giant CA, surveys the same universe and sees similar promise but worries more about the increased risk of an operational meltdown and the rise of new security concerns. Both men spoke at the recent Wharton Technology Conference 2007. India’s Edge Goes Beyond Outsourcing (4th April 2007)
Contributed by Chetan Parikh Outsourcing is breaking out of the back office. Out of the dusty labs (3rd March 2007)
Contributed by Chetan Parikh Technology firms have left the big corporate R&D laboratory behind, shifting the emphasis from research to development. Does it matter? Netcore CEO Rajesh Jain: 'In India, the Future of the Internet Will Be Built around the Mobile Phone' (20th October 2006)
Contributed by Chetan Parikh Seven years ago, Rajesh Jain ignited a dot-com storm in India when his portal, IndiaWorld, was sold to Sify, an Internet service provider, for $115 million. Today, he is CEO of Netcore, a Linux-based messaging software firm, and also maintains an active blog, emergic.org. Jain met with Knowledge@Wharton at his offices in Mumbai to discuss how mobile phones could hold the key to the Internet's evolution in India and other emerging economies. Language barriers (21st August 2004)
Contributed by Chetan Parikh Can a concept exist without words to describe it? Nanotech Gets Down to Business If the excitement at New York's NanoBusiness Conference is any guide, future historians will declare early 2003 to be nanotechnology's tipping point, the pivot on which the industry slid from "not quite ready" to "raring to go."
The Future of Nanotechnology: Molecular Manufacturing The future generations of nanotechnology will rely on being able to effectively arrange atoms. Molecular manufacturing, and the use of molecular assemblers to hold and position molecules, will be key to the future, controlling how molecules react and allowing scientists to build complex structures with atomically precise control. In this essay, Dr. Drexler discusses the benefits and challenges of future molecular manufacturing.
The Telecosm Party. "The story of Qualcomm's CDMA written by George Gilder".
Tech futurist George Gilder talks stocks. "Gilder's theory hinges on a broad and quirky worldview. In an era of material abundance, he says, there are two scarcities that will drive the development of technology. One is a physical limit--the speed of light--and the other is a biological limit--the human lifespan." In Search of Innovation In an era of unrelenting competition, innovation has become a priority for corporations, institutions and nations. Heightened interest is spurring widespread efforts to analyze what underlies the process and assess how firms and countries are doing, because good measurement is central to effective management. Meet the researchers bent on prying the lid off innovation's black box.
Being Wireless. Nicholas Negroponte explains why Wi-Fi "lily pads and frogs" will transform the future of telecom. Surviving the Fibre - Optic Fire Sale. In once-booming telecom country, bankruptcies are up, and assets are up for grabs. Level 3's Jim Crowe surveys the wreckage. Nicholas Negroponte: The Innovation "Void" MIT s Media Lab founder
laments a growing lack of creativity, as seen in bad design and hard-to-use
devices Why the future doesn't need us Contributed by Bill Joy Our most powerful 21st-century technologies - robotics, genetic engineering, and nanotech - are threatening to make humans an endangered species. A must read for everybody interested in knowing more about where we're headed. Miss it at your own peril. And for all you guys at Dalal Street trading paper, the Capital Markets may just not exist in a few years! It's a nineteen-page article, and we'd recommend that you read every word of it. It may take a few seconds for the page to download, but its well worth the wait. Take our word for it… From one of the most respected technology gurus An Excellent Article An excellent article about the so called tech downturn. The author feels this is merely a pause-to-catch-breath phase and there is lots more to be done. Sure, dotcom valuations have fallen, with even frontrunners like Yahoo! Losing 76 % of its value. Sure, venture capitalists are tightening their purse strings. Sure HTML has reached the limits of it can do, but is giving way to another language XML. But, concludes the article, there's no turning back Physician, Wire Thyself. "The article visualises the impact of handheld devices on health care industry." Stumbling Onto The Future. "Quite an interesting description of important inventions in the last two centuries." No, This Man Invented The Internet. "The story of the inventor of the internet." Impatient Pendulum. "When the author was a child, the pendulum swung even slower. It was longer then, too. It was shortened (and therefore quickened) in one of those paradoxical compromises of museum management: People stood mesmerized for so long that they blocked the flow of traffic. This speedup of an icon of slowness is symbolically fitting. The tempo of life has quickened." 5 Patents to Watch.
A handful of hot
new patents that may
change the way business and technology get
done. Distributed Computing.
The future of big
computing may lie in
distributing the work. Edible Vaccines.
Vaccines you eat
will make immunization
less painful and more accessible
worldwide. Raman Amplification.
New Raman
amplifiers are key to
building an all-optical Internet. Tissue Engineering.
Tissue engineering
promises to repair
and even replace damaged body parts.
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Activists get help from SEC (25th August 2010)
Contributed by Chetan Parikh
It's a good time to be a corporate gadfly. Why Corporate Governance Matters to Everyone (18th August 2010)
Contributed by Chetan Parikh So many of the problems we face today result from poor decision-making by private corporations. Prominent examples include the Gulf oil spill and the seriously weakened financial sector, which is imperiling the rest of our economy. However, so many who describe themselves as liberals or progressives seek to address such problems with more government regulation and programs instead of by preventing the bad decisions at the source, which is likely to be more efficient from a resource utilization perspective. Relational Letter to Occidental Petroleum (10th August 2010)
Contributed by Chetan Parikh This letter to Occidental Petroleum’s board of directors from Ralph Whitworth of Relational Investors (VII, September 30, 2009) and Anne Sheehan of the California State Teachers’ Retirement System outlines why the activist investors are seeking to replace at least four board members: “[T]he board, as currently composed, suffers from entrenchment and ossification, which renders each of its members incapable of functioning as vigorous and independent shareholder representatives.” How to Make an American Job Before It's Too Late: Andy Grove (6th July 2010)
Contributed by Abhay Bhagat Recently an acquaintance at the next table in a Palo Alto, California, restaurant introduced me to his companions: three young venture capitalists from China. They explained, with visible excitement, that they were touring promising companies in Silicon Valley. I’ve lived in the Valley a long time, and usually when I see how the region has become such a draw for global investments, I feel a little proud. The new pluralism (22nd March 2010)
Contributed by Chetan Parikh Power in modern society is progressively being diffused, moving away from central government to interest groups, even to single individuals. Society and the body politic in democratic societies are becoming pluralist in new ways. This phenomenon was analysed by management guru and social science professor Peter Drucker in his book The New Age. A clear understanding of this development would help political and social leaders to cope with changing electoral aspirations. The Drucker School of Management Honored as an 'Excellent Business School' by Eduniversal (24th April 2009)
Contributed by Chetan Parikh The Peter F. Drucker and Masatoshi Ito Graduate School of Management was recognized as an “Excellent Business School” by EDUNIVERSAL, an organization that helps students choose the best business schools worldwide. The Drucker school was honored to be among the 1,000 selected business schools in the world because of its strength in the US and international influence. Peter Senge (21st November 2008)
Contributed by Rohan M. Shah Peter Senge (born 1947) studied aerospace engineering at Stanford University before moving into the field of organisational behaviour and becoming director of the Centre for Organisational Learning at MIT’s Sloan School of Management. He is credited with developing the idea of the learning organisation, based on his study of social systems and the relationship of the whole to its constituent parts. A learning organisation, he once said, “is continually expanding its capacity to create its future”. Economic Depressions: Their Cause and Cure (3rd October 2008)
Contributed by Chetan Parikh We live in a world of euphemism. Undertakers have become "morticians," press agents are now "public relations counsellors" and janitors have all been transformed into "superintendents." In every walk of life, plain facts have been wrapped in cloudy camouflage. Peter Drucker's "Unfinished Chapter:" (6th August 2007)
Contributed by Abhay Bhagat The influence the CEO has on people--individually and collectively. Management: A movie guide (6th July 2007)
Contributed by Chetan Parikh I've read about shamrock organisations, horizontal organisations and federal organisations. I've read about intelligent enterprises and spider-web organisations. The most-quoted management guru Peter Drucker said that managing an information-based organisation is more like conducting a symphony orchestra than running a business on traditional lines. Others have compared it to running a jazz combo, and then there are those who say it's like running a sports team. Q&A with management guru Jim Collins (18th June 2007)
Contributed by Abhay Bhagat The bestselling author answers our readers' questions about business, leadership - and mountain climbing. Beware the 'Walking Dead': Analyzing Customer Data from a Multi-Service Firm (14th June 2007)
Contributed by Chetan Parikh Think of them as the "walking dead," a type of customer who currently maintains service with a particular company, but whose next action will most likely be to discontinue that relationship, according to a new study that examines how the customers of a telecommunications firm acquire and discard services over time. The paper -- "Modeling the Evolution of Customers' Service Portfolios," by Wharton marketing professors Peter Fader and Eric Bradlow and a former Wharton PhD student -- focuses in part on whether it is possible to predict future purchasing patterns by looking at past buying behavior.
At 3M, A Struggle Between Efficiency And Creativity (4th June 2007)
Contributed by Abhay Bhagat How CEO George Buckley is managing the yin and yang of discipline and imagination Here Today, Discounted Tomorrow: Strategic Shoppers Know When to Buy, and at What Price (1st June 2007)
Contributed by Chetan Parikh Some shoppers just can't help themselves and buy mostly on impulse without regard to price. Others are die-hard bargain hunters, who only open their wallets for a discount. Then there are the strategic consumers, who are willing to buy full-price sometimes, but at other times they will wait for a bargain. According to new research by Gérard P. Cachon, professor of operations and information management at Wharton, and doctoral student Robert Swinney, it's these customers that retailers need to focus on in order to reap the full benefits of lean retail inventory management and variable pricing. Marketers For Charity: Peter Drucker (1st June 2007)
Contributed by Chetan Parikh Few have had as great an impact on the business world as Peter Drucker. So, it is more than fitting to have his work amplified on Branding Strategy Insider during this years Marketers For Charity effort.
The best business books of all time? Here are the choices of our panel of CEOs and experts (25th May 2007)
Contributed by Chetan Parikh Robert Bruner still remembers the first book he read as a manager. It was 1988, and Bruner, now the dean of the Darden School of Business at the University of Virginia, was an up-and-coming professor, respected for his work in finance. But he'd never managed people before. And when he was charged with overseeing the first year of the school's M.B.A. program, Bruner began to struggle.Under fire, Bruner scrambled for guidance. He found it in Peter Drucker'sThe Effective Executive. In the book, published two decades earlier, the dean of management thinkers—known for his study of GM under Alfred Sloan—offered advice to managers burdened with exactly Bruner's problems. Strategies: Pray for a public buyer (21st May 2007)
Contributed by Chetan Parikh If you own stock in a company that is ripe for takeover, you should hope the company is not acquired by a private equity firm. A New Take on Corporate Governance and Anti-Corruption Crusades (18th May 2007)
Contributed by Chetan Parikh Most people assume that good corporate governance benefits shareholders, and that corruption in a banking system should be rooted out. But just how much benefit does a company really get when it improves its accounting and puts a few outsiders on its board of directors? And when does an anti-corruption crusade start to backfire, causing a chilling effect that denies loans to credit-worthy borrowers? India offers a chance to study both questions, which were the subject of papers presented at a global conference on India's Financial System held in April at Wharton. The conference was organized by Wharton's Financial Institutions Center with the Centre for Analytical Finance at the Indian School of Business in Hyderabad and the Stockholm-based Swedish Institute for Financial Research.
Adobe's Shantanu Narayen: India and Other Emerging Markets Are Going to Drive Trends in Software Evolution (18th May 2007)
Contributed by Chetan Parikh While a number of Indian IT companies are expanding globally, several major U.S. IT firms are increasing their presence in India. Among them is Adobe Systems, which views India as an important development center and a growing market for its products. In the second of a two-part interview with Knowledge@Wharton, Adobe president and chief operating officer Shantanu Narayen discusses the company's strategy regarding India and global expansion. In the first part of the interview, published in Knowledge@Wharton, he talks about Adobe's product strategy for the emerging trend of rich Internet applications.
Shantanu Narayen on Adobe's Future Direction: Product Strategy for the Next Generation of the Web (17th May 2007)
Contributed by Chetan Parikh A key element of what has been called "web 2.0" -- along with ideas such as user-generated content and social networks -- is the concept of "rich Internet applications," which use the web as a platform for innovative types of online experiences. A new generation of Internet-connected applications is beginning to emerge led by such companies as Adobe Systems. Knowledge@Wharton recently interviewed Adobe president and COO Shantanu Narayen about the company's latest product introductions. In the second part of this interview, published in India Knowledge@Wharton, Narayen talks about the key role that India will play in the company's global growth strategy.
Fresh takes on Peter Drucker (12th May 2007)
Contributed by Chetan Parikh IN the past business in China has been predominantly driven by the all-pervasive guanxi or relationships - be it family ties, friendship, or a set of official favors and reciprocation that keep the wheels turning.
Life, not seminars, molds leaders (8th April 2007)
Contributed by Chetan Parikh Here comes a truly worthwhile look at leadership, "True North: Discover Your Authentic Leadership," by Bill George with Peter Sims.
Big Winners: Hitting That 'Sweet Spot' of Success Year After Year (2nd March 2007)
Contributed by Chetan Parikh Alfred A. Marcus, a professor at the University of Minnesota, Carlson School of Management, reviewed detailed performance metrics for the 1,000 largest U.S. corporations, identifiying the 3.2% that have consistently outperformed their industries for a full decade. In his book, Big Winners and Big Losers: The 4 Secrets of Long-term Business Success and Failure (Wharton School Publishing), Marcus explains the strategies these companies followed, how they found opportunities in markets that others didn't see, and how they managed the tension between agility and discipline. Below is an excerpt from Chaper Seven, titled "Focus." How Corporate America Came to Recognize Diversity, One Pepsi at a Time (2nd March 2007)
Contributed by Chetan Parikh In 1949, an African-American marketing executive for the Pepsi-Cola company named Edward F. Boyd attended a performance of Arthur Miller's Death of a Salesman. By his own account, Boyd was moved to tears by the play and its echo of his own experiences and disappointments as a salesman in mid-20th century America. Yet Boyd's role in Pepsi's pioneering venture to tap the African-American market by employing African-American sales personnel is a story of triumph, as related in a new book titled, The Real Pepsi Challenge: The Inspirational Story of Breaking the Color Barrier in American Business, by Stephanie Capparell. Corporate Governance in India: Is an Independent Director a Guardian or a Burden? (9th February 2007)
Contributed by Chetan Parikh Many Indian companies -- with a few exceptions -- are owned or controlled by business families. This poses a special challenge for corporate governance. According to Wharton management professors Jitendra Singh and Michael Useem, a crucial issue is the approach that the family member who heads the company takes towards independent directors. In well-managed companies, independent directors are viewed as partners of management and as outside guardians whose job is to make sure that management stays focused on delivering shareholder value. Other companies, however, might consider independent directors to be a burden that has to be borne mainly to satisfy regulatory rules for compliance. In this second half of a two-part discussion on corporate governance in India, Singh and Useem discuss these issues and more with India Knowledge@Wharton.
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