The New Economics, Third Edition: For Industry, Government, Education

Written by:
W. Edwards Deming
Narrated by:
David Stifel

Unabridged Audiobook

Ratings
Book
5
Narrator
2
Release Date
December 2018
Duration
8 hours 14 minutes
Summary
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 Deming 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 the prevailing management style as a prison, Deming shows how applying the System of Profound Knowledge increases productivity, quality, and people’s joy in work and joy in learning. Another outcome is short-term and long-term success in the market. Indicative of Deming’s philosophy is his advice to abolish performance reviews on the job, to look deeper than spreadsheets for opportunities, and even to rethink how we teach and manage our schools. Moreover, Deming’s method enables organizations to make accurate predictions, which is a valuable tool in today’s uncertain economic climate.

This third edition features a new chapter (written by business consultant and Deming expert Kelly L. Allan) that explains the relevance of Deming’s management method, and case studies from organizations that have adopted Deming’s System of Profound Knowledge, and offers guidance on how organizations can effectively “do Deming.”
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Jon P.

DR. Deming’s book the New Economics (in my humble opinion) was his attempt to simplify his teachings and messages found in Out of the Crisis. The depth, importance, and application of what he writes can often be missed the first couple of times that you read his work. Actively applying it to your own work environments as you read or listen will lead you to powerful epifnys. The added chapter by Kelly Allen addressing the mistakes and pitfalls many have made cherry picking Dr. Deming’s work is pure gold. Providing the how and why these problems develop is an invaluable leg up to those who choose to listen. Every time I read it, I walk away with something new.

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