job satisfaction

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pages: 636 words: 140,406

The Case Against Education: Why the Education System Is a Waste of Time and Money by Bryan Caplan

affirmative action, Affordable Care Act / Obamacare, assortative mating, conceptual framework, correlation does not imply causation, deliberate practice, deskilling, disruptive innovation, en.wikipedia.org, endogenous growth, experimental subject, fear of failure, Flynn Effect, future of work, George Akerlof, ghettoisation, hive mind, job satisfaction, Kenneth Arrow, Khan Academy, labor-force participation, longitudinal study, low skilled workers, market bubble, mass incarceration, meta analysis, meta-analysis, Peter Thiel, price discrimination, profit maximization, publication bias, risk tolerance, Robert Gordon, Ronald Coase, school choice, selection bias, Silicon Valley, statistical model, Steven Pinker, The Bell Curve by Richard Herrnstein and Charles Murray, the scientific method, The Wisdom of Crowds, trickle-down economics, twin studies, unpaid internship, upwardly mobile, women in the workforce, yield curve, zero-sum game

Since the Good Student is by assumption a single, childless, full-time worker, he is eligible for only one important transfer: unemployment benefits.23 Calculations assume unemployed workers receive the average 2011 unemployment benefit of $300 per week.24 While state-by-state formulas pay larger benefits to workers with higher earning histories, statutory floors and ceilings on benefit levels keep payments for full-time workers within fairly narrow bounds.25 Job satisfaction. I have a dream job for life. I get paid to think my thoughts, share my ideas with students, and eat lunch with my best friends. I owe this job to my education; without my Ph.D., I would not be at George Mason University. If I never went to grad school, I might earn more in another line of work, but my job satisfaction would crash. I’m apparently atypical. More educated workers are marginally happier with their jobs. For the most part, however, this stems from higher income. When you compare workers with equal incomes but unequal educations, education has no clear effect on job satisfaction.26 Some researchers actually find job satisfaction goes down as education goes up.27 One plausible reason: education raises expectations.

The byzantine tax code and patchwork welfare state are distractions from what counts: production.6 Job satisfaction, happiness, and the joy of learning. Though the better-educated have greater job satisfaction and happiness, the reason is largely material: the educated enjoy their jobs and lives more because they make more money, not because their careers feel more fulfilling.7 Does education have any independent impact on job satisfaction or happiness? While some researchers detect mild benefits, others discover that—money aside—the well-educated feel worse about their lives. If you drive a cab for a living, a college diploma makes you see a failure in the rear-view mirror. From a social point of view, education’s effect on job satisfaction and happiness is even more questionable. Humans savor status—a high rank in the pecking order.

The disturbing implication: even if education were a path to personal happiness, it could remain a dead end for social happiness. Research on this fear is sparse but intriguing. In the General Social Survey, education slightly lifts individuals’ job satisfaction and happiness—even if income stays the same. How? By pushing them up the hierarchy. Correcting for status, education’s effect on job satisfaction vanishes, and its effect on happiness shrinks by two-thirds.10 If there’s little reason to think education makes one human happier with their job or life, there’s even less reason to think education makes humanity happier with its jobs or lives. Since my selfish returns already set education’s effect on job satisfaction and happiness to zero, my social returns do the same. What about the classroom experience? On average, as last chapter reported, school is one of people’s least-liked activities.


pages: 293 words: 81,183

Doing Good Better: How Effective Altruism Can Help You Make a Difference by William MacAskill

barriers to entry, basic income, Black Swan, Branko Milanovic, Cal Newport, Capital in the Twenty-First Century by Thomas Piketty, carbon footprint, clean water, corporate social responsibility, correlation does not imply causation, Daniel Kahneman / Amos Tversky, David Brooks, effective altruism, en.wikipedia.org, end world poverty, experimental subject, follow your passion, food miles, immigration reform, income inequality, index fund, Intergovernmental Panel on Climate Change (IPCC), Isaac Newton, job automation, job satisfaction, Lean Startup, M-Pesa, mass immigration, meta analysis, meta-analysis, microcredit, Nate Silver, Peter Singer: altruism, purchasing power parity, quantitative trading / quantitative finance, randomized controlled trial, self-driving car, Skype, Stanislav Petrov, Steve Jobs, Steve Wozniak, Steven Pinker, The Future of Employment, The Wealth of Nations by Adam Smith, universal basic income, women in the workforce

each of these factors also correlates with motivation, productivity, and commitment to your employer: Benjamin Todd, “How to Find a Job You’ll Love,” 80,000 Hours (blog), August 16, 2012, https://80000hours.org/2012/08/how-to-find-a-job-you-ll-love/. which some psychologists have argued is the key to having genuinely satisfying experiences: Mihaly Csikszentmihalyi, Flow: The Psychology of Optimal Experience (New York: Harper & Row, 1990). There are other factors that also matter to your job satisfaction: See the information and references cited in “Predictors of Job Satisfaction,” 80,000 Hours, August 28, 2014, https://80000hours.org/career-guide/framework/job-satisfaction/job-satisfaction-research/#predictors-of-job-satisfaction. He traveled in India: See Walter Isaacson, Steve Jobs (New York: Simon & Schuster, 2011), 39–50. while Jobs and Wozniak were trying to sell circuit boards to hobbyists: Jeffrey S. Young and William L. Simon, iCon Steve Jobs: The Greatest Second Act in the History of Business (Hoboken, New Jersey: John Wiley & Sons, 2005), 35–36.

Let’s discuss each of these three key factors in turn. Personal fit Personal fit is about how good you’ll be in a particular job. An important part of this is whether you’ll be happy doing the work. People often want job satisfaction as an end in itself, but it’s also a crucial factor when thinking about impact: if you’re not happy at work, you’ll be less productive and more likely to burn out, resulting in less impact in the long-term. However, we need to be careful when thinking about how to find a job you’ll love. There’s a lot of feel-good misinformation out there, and the real route to job satisfaction is somewhat counterintuitive. On June 12, 2005, Steve Jobs stood in front of the graduating class at Stanford and gave them his advice on what they should do with their lives: You have to trust in something—your gut, destiny, life, karma, whatever—because believing that the dots will connect down the road will give you the confidence to follow your heart, even when it leads you off the well-worn path, and that will make all the difference.

If you focus only on what you’re currently passionate about, then you risk committing to projects that you soon find you’re no longer interested in. This takes us to our third point against passion, which is that the best predictors of job satisfaction are features of the job itself, rather than facts about personal passion. Instead of trying to figure out which career to pursue based on whatever you happen to be most interested in today, you should start by looking for work with certain important features. If you find that, passion will follow. Research shows that the most consistent predictor of job satisfaction is engaging work, which can be broken down into five factors (this is known in psychology as the job characteristics theory): Independence—To what extent do you have control over how you go about your work?


pages: 257 words: 76,785

Shorter by Alex Soojung-Kim Pang

8-hour work day, airport security, Albert Einstein, Bertrand Russell: In Praise of Idleness, business process, call centre, carbon footprint, centre right, cloud computing, colonial rule, disruptive innovation, Erik Brynjolfsson, future of work, game design, gig economy, Henri Poincaré, IKEA effect, iterative process, job automation, job satisfaction, job-hopping, Johannes Kepler, Kickstarter, labor-force participation, longitudinal study, means of production, neurotypical, performance metric, race to the bottom, remote working, Second Machine Age, side project, Silicon Valley, Steve Jobs, telemarketer, The Wealth of Nations by Adam Smith, women in the workforce, young professional, zero-sum game

FOUR-DAY WEEKS BOOST LONG-TERM HAPPINESS AND JOB SATISFACTION A century ago at the Hawthorne Works in Illinois, industrial psychologists experimenting with ways of boosting productivity of factory workers thought they found a bunch of changes that increased productivity, but it later turned out that the workers were working harder because they knew they were being observed. Could productivity gains and reports of increased happiness at companies that shorten their workweeks be examples of the Hawthorne effect and thus wear off soon? Fortunately, some of the companies that switched to four-day weeks have actually measured employee happiness and job satisfaction over time. When I visited Synergy Vision in London, managing director Eileen Gallagher had just compiled the results of their latest job satisfaction survey, which they had conducted throughout the company’s six-month trial with four-day weeks.

These changes often come at the insistence of employees, and that has a subtle but important benefit. Giving people more control over the physical design of their workplaces increases their job satisfaction and productivity. In one experiment, researchers put people in one of three offices: a bare-bones minimalist office, an office that had been decorated for them with some plants and pictures, and an office that they could decorate themselves. They found that people who got to decorate their own offices felt better about their employers, said they were more physically comfortable, had higher rates of job satisfaction, and were more productive than the other groups. The presence of decor had a slight positive effect on productivity, but being able to decorate your space had an even bigger effect. It didn’t matter so much whether your office looked like a picture in an architectural magazine or a dorm room during finals: control over your space had a real impact on productivity.

A survey of New Zealand trusts company Perpetual Guardian also provides some measure of how moving to a four-day workweek influences social and psychological factors related to work, performance, and well-being. University of Auckland professor Jarrod Haar surveyed executives and employees before and after the trial. He found that team psychosocial capital and cohesion—both of which predict the ability of groups to work together productively, as well as job satisfaction and well-being—were higher after the four-day-week trial than before, as well as team creativity. Employees reported higher readiness to change, job satisfaction, and engagement, and improved capacity to achieve work-life balance—all of which further boosted workplace happiness. Shortening the workweek can also improve the lives and well-being of entrepreneurs. Entrepreneurship can present substantial mental health challenges. A team led by University of California San Francisco professor Michael Freeman has found that half of entrepreneurs have at least one mental health condition and have significantly higher than normal rates of depression and other issues.


pages: 208 words: 67,582

What About Me?: The Struggle for Identity in a Market-Based Society by Paul Verhaeghe

Berlin Wall, call centre, cognitive dissonance, deskilling, epigenetics, Fall of the Berlin Wall, Francis Fukuyama: the end of history, income inequality, invisible hand, jimmy wales, job satisfaction, knowledge economy, knowledge worker, Louis Pasteur, market fundamentalism, Milgram experiment, new economy, Panopticon Jeremy Bentham, post-industrial society, Richard Feynman, Silicon Valley, Stanford prison experiment, stem cell, The Spirit Level, ultimatum game, working poor

The success of the reform wasn’t just due to the fact that hard work ensured relatively rapid promotion and pay rises — because, from a certain level on, salary ceases to be an incentive.7 From a psychological perspective, academics mainly felt good because they finally had control over their own careers, being protected from nepotism, backroom deals, and other shady practices. This did wonders for their self-esteem, which in turn increased their motivation to work, along with their job satisfaction. On top of that, they identified with and felt loyal towards the organisation that made this possible. Within the span of a single generation, however, this situation changed dramatically, with the result that, nowadays, university staff, especially if they are young, feel that they have very little influence over their careers. Instead, they are compelled to dance to the music of an invisible administration.

The fact that matters could be seen from the opposite perspective — that our economy poses a serious threat to our health — apparently occurs to nobody. Yet it had all started so promisingly, with freedom and autonomy within reach. A meritocratic system is unquestionably beneficial at the outset. As the manager of her own life, the individual obtains more say over her work, and is paid better, too. Her loyalty to the enterprise for which she works and which is offering her these opportunities accordingly grows. Not only does her job satisfaction increase, but also her sense of responsibility, both towards her own work and towards the enterprise as a whole. She is part of it; it is her company, school, or hospital, and she’s happy to work a few extra hours when necessary. Morale improves, and morals are enhanced. Working for an enterprise like this is a pleasant experience. But it’s inherent in the system that after a few years, the situation is completely reversed.

Economies of scale resulting from mergers sparked an increasing need for managers. Human-resources policy was rationalised, with individual and quantifiable merits gradually taking centre stage. Responsibility without power is a formula that is bound to create trouble, and that is exactly what has happened. Just about any psychological study of employee motivation shows the negative impact this has on commitment, motivation, and job satisfaction, as well as on the quality of the work done. In the pre-digital age, directors took policy decisions, and plans filtered down from headquarters to the various branches and departments. This process took months, and had the advantage of involving the lower echelons. Very often, modifications to plans were proposed further down, to tie in better with the reality of the work floor, usually without senior management even having to be consulted.


pages: 358 words: 104,664

Capital Without Borders by Brooke Harrington

banking crisis, Big bang: deregulation of the City of London, British Empire, capital controls, Capital in the Twenty-First Century by Thomas Piketty, complexity theory, corporate governance, corporate social responsibility, diversified portfolio, estate planning, eurozone crisis, family office, financial innovation, ghettoisation, haute couture, high net worth, income inequality, information asymmetry, Joan Didion, job satisfaction, joint-stock company, Joseph Schumpeter, liberal capitalism, mega-rich, mobile money, offshore financial centre, race to the bottom, regulatory arbitrage, Robert Shiller, Robert Shiller, South Sea Bubble, the market place, Thorstein Veblen, transaction costs, upwardly mobile, wealth creators, web of trust, Westphalian system, Wolfgang Streeck, zero-sum game

the answer is given as follows: “STEP members spend their professional lives working with families and tackling real problems.”101 For professionals whose counterparts in finance and law often spend more time engaging with papers than with people, being face-to-face and solving highly individualized problems (rather than routine or standardized ones) provide important sources of meaning and pleasure to daily work. Research on other occupational groups confirms that job satisfaction is linked to a strong sense of purpose, meaning, and engagement, net of salary levels.102 There are, of course, less noble motives for wealth managers’ job satisfaction. Bruce, the American working in Geneva, said that his primary source of job satisfaction was the “intellectual challenge of playing cat and mouse with tax authorities around the world.” The appeal of this kind of multidimensional international problem solving may be why the profession lures people from academia: of the sixty-five participants in the sample, three were former professors, in the fields of law, literature, and journalism.

Defining and defending the boundaries of their expertise, as described above, is a matter not just of capturing fees but of positioning within a hierarchy.76 This competition for rank is one way that professions establish themselves as a field of practice and contribute to “the institutional design of the social order.”77 To explore these dimensions of contemporary wealth management, this section will examine salaries, job satisfaction, and nonmonetary sources of compensation for practitioners. Prestige, pay, and positioning Among all the fields that have emerged in the modern division of labor, finance dominates in many ways, both through its transnational reach and through its command of payment and privilege.78 While salaries are always an important component of professional status, they are accorded particular importance within finance.79 By that measure, wealth management occupies an intermediate space in the field: not the lowest-paid, but nowhere near the high end.

Wealth management, while it is a part of the financial services industry, is nevertheless very different from the rest of the field because of its path-dependent ties to the ethic of knightly service, loyalty, and self-effacement. But what was once a masculine ideal linked to the code of chivalry is—somewhat ironically—becoming associated with feminine behavior in contemporary practice. Time and job satisfaction Although wealth managers are paid less than many of their comparably skilled peers in finance, the participants in this study noted many nonmonetary forms of compensation that make the trade-off worthwhile to them. For one thing, most wealth managers work a forty-hour week, which is quite low compared to others in financial services.100 This appeals to men and women alike. Alistair, a British practitioner who earlier had moved to the Cayman Islands to work as a futures trader, recalled, “I changed from trading because I realized it was an unsustainable lifestyle.


pages: 86 words: 27,453

Why We Work by Barry Schwartz

Atul Gawande, call centre, deskilling, Frederick Winslow Taylor, future of work, if you build it, they will come, invisible hand, job satisfaction, meta analysis, meta-analysis, Silicon Valley, The Wealth of Nations by Adam Smith, Toyota Production System

When people have this kind of work to do, they are deprived of the meaning and engagement we encountered in the last chapter. So every worker spends half of his or her waking life deprived. Perhaps the pay compensates, but I don’t think so. And existing research bears me out. In a comprehensive article about the significance of salary to job satisfaction, Timothy Judge and colleagues reviewed the results of eighty-six studies that included about fifteen thousand employees. Their analysis of the data from all these studies combined suggested that level of pay had very little effect on either job satisfaction or pay satisfaction. So it is unlikely that pay compensates for routinized, meaningless work. More likely, such workers are resigned to living lives in which their work is nothing but drudgery. The role of assumptions about human nature in maintaining these kinds of workplaces is striking.

And Pfeffer suggests something of a downward spiral. A company starts to have trouble, because of low profits, high costs, and poor customer service. This leads to efforts to cut costs and make the company “lean and mean”: less training, salary reductions, layoffs, part-time workers, a freeze on hiring and promotion. These changes lead to decreased worker motivation to excel, decreased effort, even worse customer service, less job satisfaction and more turnover, which in turn leads to more trouble for the business. In short, you take discretion, engagement, and meaning out of work and people get less satisfaction from doing it. As they get less satisfaction from doing it, they do it less well. As they do it less well, their supervisors take even more discretion away. The “cure” makes the disease even worse. Turning a “Vicious Cycle” into a “Virtuous Cycle” As Pfeffer describes it, the knee-jerk response to competitive pressure—cutting staff, speeding up workers, monitoring performance closely—makes the situation worse, by reducing the effectiveness (and the satisfaction) of the workforce.

Psychological Science, 15 (2004): 787–93. Hilfiker, D. “A Doctor’s View of Modern Medicine.” New York Times Magazine, February 23, 1986: 44–47, 58. Hirsch, F. Social Limits to Growth. Cambridge, MA: Harvard Press, 1976.* Hodson, R. Dignity at Work. New York: Cambridge University Press, 2001.* Judge, T. A., R. F. Piccolo, N. P. Podsakoff, J. C. Shaw, and B. L. Rich. “The Relationship Between Pay and Job Satisfaction: A Meta-Analysis of the Literature.” Journal of Vocational Behavior, 77 (2010): 157–67. Jussim, L. “Self-fulfilling Prophecies: A Theoretical and Integrative Review.” Psychological Review, 93 (1986): 429–45. ——. “Teacher Expectations: Self-Fulfilling Prophecies, Perceptual Biases, and Accuracy.” Journal of Personality and Social Psychology, 57 (1989): 469–80. Jussim, L., J. Eccles, and S.


pages: 504 words: 126,835

The Innovation Illusion: How So Little Is Created by So Many Working So Hard by Fredrik Erixon, Bjorn Weigel

"Robert Solow", Airbnb, Albert Einstein, American ideology, asset allocation, autonomous vehicles, barriers to entry, Basel III, Bernie Madoff, bitcoin, Black Swan, blockchain, BRICs, Burning Man, business cycle, Capital in the Twenty-First Century by Thomas Piketty, Cass Sunstein, Clayton Christensen, Colonization of Mars, commoditize, corporate governance, corporate social responsibility, creative destruction, crony capitalism, dark matter, David Graeber, David Ricardo: comparative advantage, discounted cash flows, distributed ledger, Donald Trump, Elon Musk, Erik Brynjolfsson, fear of failure, first square of the chessboard / second half of the chessboard, Francis Fukuyama: the end of history, George Gilder, global supply chain, global value chain, Google Glasses, Google X / Alphabet X, Gordon Gekko, high net worth, hiring and firing, Hyman Minsky, income inequality, income per capita, index fund, industrial robot, Internet of things, Jeff Bezos, job automation, job satisfaction, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, joint-stock company, Joseph Schumpeter, Just-in-time delivery, Kevin Kelly, knowledge economy, laissez-faire capitalism, Lyft, manufacturing employment, Mark Zuckerberg, market design, Martin Wolf, mass affluent, means of production, Mont Pelerin Society, Network effects, new economy, offshore financial centre, pensions crisis, Peter Thiel, Potemkin village, price mechanism, principal–agent problem, Productivity paradox, QWERTY keyboard, RAND corporation, Ray Kurzweil, rent-seeking, risk tolerance, risk/return, Robert Gordon, Ronald Coase, Ronald Reagan, savings glut, Second Machine Age, secular stagnation, Silicon Valley, Silicon Valley startup, Skype, sovereign wealth fund, Steve Ballmer, Steve Jobs, Steve Wozniak, technological singularity, telemarketer, The Chicago School, The Future of Employment, The Nature of the Firm, The Rise and Fall of American Growth, The Wealth of Nations by Adam Smith, too big to fail, total factor productivity, transaction costs, transportation-network company, tulip mania, Tyler Cowen: Great Stagnation, uber lyft, University of East Anglia, unpaid internship, Vanguard fund, Yogi Berra

People in the West are increasingly unhappy with their jobs. The Conference Board, an economics consultancy, suggests that dissatisfaction with work in the United States has been growing for several decades and that a majority of the workforce is now dissatisfied rather than satisfied with their jobs.3 Academic research confirms that job satisfaction in the US has been on a downward trend since the 1970s.4 This trend challenges the usual perceptions about what drives job satisfaction, such as pay or job security. While they are important, surveys suggest that job satisfaction, in the United States at least, is also linked to economic dynamism and opportunity. Although workers are materially better off today than they were in the 1960s, and have safer working environments, many are afforded fewer economic opportunities and consequently have lower aspirations.

While the problems we cover also can be found in other countries, it is not our purpose to analyze them. Several chapters will discuss developments in other economies than those in the West, but only when it is relevant for our discussion about Western capitalism. In this book, references to the Western world, Western economies, the West, or similar expressions mean North America and Western and Central Europe. 3.Cheng et al., “Job Satisfaction.” 4.Blanchflower and Oswald, “Well-Being, Insecurity, and the Decline of American Job Satisfaction.” 5.Crabtree, “Worldwide, 13% of Employees Are Engaged at Work.” 6.Dreyer and Hindley, “Trade in Information Technology Goods.” 7.The Economist, “Planet of the Phones.” 8.Bogost, “The Secret History of the Robot Car.” 9.The “second half of the chessboard” is an expression by Ray Kurzweil to explain the power of exponential growth. Legend has it that when the inventor of chess presented the game to the emperor of India and was offered to choose a reward, he asked for one grain of rice on the first square, two on the second, four on the third, and so one.

Figure 8.1 Firm entry and exit rates in the United States, 1977–2012 Diminishing turnover rates are an unhealthy sign because, aside from bringing new technologies, new firms are the ones that challenge incumbents, and – usually – create better-paid jobs. Their value for the economy is shown through increasing productivity growth. But, as Western economies mature, people tend to stay hired in old firms. While that might be appealing to some, especially if job satisfaction is good, it is a recipe for a society distancing itself from a dynamic economy. Old firms hired about 80 percent of the total US workforce in 2012 compared to 65 percent in 1987, while the workforce employed by start-ups decreased sharply.24 Entrepreneurship is also on an aging trend. In 1989, almost 11 percent of young households (aged 30 and younger) owned shares in private companies; in 2013 that number was down to less than 4 percent.


pages: 402 words: 126,835

The Job: The Future of Work in the Modern Era by Ellen Ruppel Shell

3D printing, affirmative action, Affordable Care Act / Obamacare, Airbnb, airport security, Albert Einstein, Amazon Mechanical Turk, basic income, Baxter: Rethink Robotics, big-box store, blue-collar work, Buckminster Fuller, call centre, Capital in the Twenty-First Century by Thomas Piketty, Clayton Christensen, cloud computing, collective bargaining, computer vision, corporate governance, corporate social responsibility, creative destruction, crowdsourcing, deskilling, disruptive innovation, Donald Trump, Downton Abbey, Elon Musk, Erik Brynjolfsson, factory automation, follow your passion, Frederick Winslow Taylor, future of work, game design, glass ceiling, hiring and firing, immigration reform, income inequality, industrial robot, invisible hand, Jeff Bezos, job automation, job satisfaction, John Markoff, John Maynard Keynes: Economic Possibilities for our Grandchildren, Joseph Schumpeter, Kickstarter, knowledge economy, knowledge worker, Kodak vs Instagram, labor-force participation, low skilled workers, Lyft, manufacturing employment, Marc Andreessen, Mark Zuckerberg, means of production, move fast and break things, move fast and break things, new economy, Norbert Wiener, obamacare, offshore financial centre, Paul Samuelson, precariat, Ralph Waldo Emerson, risk tolerance, Robert Gordon, Robert Shiller, Robert Shiller, Rodney Brooks, Ronald Reagan, Second Machine Age, self-driving car, shareholder value, sharing economy, Silicon Valley, Snapchat, Steve Jobs, The Chicago School, Thomas L Friedman, Thorstein Veblen, Tim Cook: Apple, Uber and Lyft, uber lyft, universal basic income, urban renewal, white picket fence, working poor, Y Combinator, young professional, zero-sum game

worker satisfaction in his heyday Annamarie Mann and Jim Harter, “The Worldwide Employee Engagement Crisis,” Gallup Business Journal, January 7, 2016, http://www.gallup.com/​busines­sjournal/​188033/​worldwide-employee-engagement-crisis.aspx. as many as 92 percent of US workers Robert P. Quinn, Graham L. Staines, and Margaret R. McCullough, “Job Satisfaction: Is There a Trend?,” Manpower Research Monograph No. 30, US Department of Labor, 1974, https://www.psc.isr.umich.edu/​dis/​infoserv/​isrpub/​pdf/​Jobsati­sfaction_3674_.PDF. fewer than half of all Americans “2016 Employee Job Satisfaction and Engagement: Executive Summary,” Society for Human Resource Management, 2016, https://www.shrm.org/​hr-today/​trends-and-foreca­sting/​research-and-surveys/​Documents/​2016-Employee-Job-Satisfaction-and-Engagement-Report-Executive-Summary.pdf. The vast majority Amy Adkins, “Employee Engagement in U.S. Stagnant in 2015,” Gallup.com, January 13, 2016, http://www.gallup.com/​poll/​188144/​employee-engagement-stagnant-2015.aspx.

Surveys show that in the 1950s and 1960s and into the 1970s—when many Americans labored in factories, and when fewer employers offered “meaningful” jobs—as many as 92 percent of US workers reported being satisfied with their jobs. And not all respondents were satisfied for the same reasons. White-collar workers—a small minority at the time—rated challenging work as the most important factor in job satisfaction. Blue-collar workers—who were most workers at the time—prioritized financial reward. Blue-collar workers also assigned greater importance than did white-collar workers to relationships with coworkers, duration of work hours, fringe benefits, and job security. Basically, blue-collar workers were far less concerned with being challenged than they were with job security, working conditions, and relationships.

Though not all workers benefited from these policies, and many full-time workers still earned a poverty wage, conditions had improved for millions of American workers. And while many if not most workers might not have felt “self-actualized,” or even challenged by their jobs, they did feel a sense of security and belonging that made them claim to be satisfied with their working lives. In the 1980s, job satisfaction in the United States began the steady decline from which it has yet to recover. Since the turn of the century through this writing, fewer than half of all Americans claim to be satisfied with their jobs—giving low marks to such factors as compensation and benefit levels, opportunity for advancement, treatment by supervisors, training opportunities, and job security, among other things. The vast majority—hovering at 70 percent—also confess that they are not engaged with their jobs, by which they mean that they are not particularly interested in doing them.


pages: 241 words: 43,073

Puppet 3 Beginner's Guide by John Arundel

cloud computing, Debian, DevOps, job automation, job satisfaction, Lao Tzu, Larry Wall, Network effects, SpamAssassin

ssh module / Time for action – deploying an SSH configuration file STRING argument / Substitutions substitutions / Substitutions substrings, comparisions / Substrings sudoprivileges, managing with / Managing privileges with sudo sudo command / sudo sudoers filedeploying / Time for action – deploying a sudoers file syntax / Time for action – deploying a sudoers file syntaxchecking / Syntax checking sysadmintasks / A day in the life of a sysadmin job satisfaction / Job satisfaction T tasksscheduling / Scheduled tasks templateusing / Using templates Nginx virtual host / Time for action – templating an Nginx virtual host inline templates / Inline templates about / Templates template function / What just happened? text substitution / Text substitution U unless attribute / Running commands selectively unless command / Running commands selectively unless statement / Unless statements usercreating / Time for action – creating a user, What just happened?

Introduction to Puppet The problem Configuration management A day in the life of a sysadmin Keeping the configuration synchronized Repeating changes across many servers Self-updating documentation Coping with different platforms Version control and history Solving the problem Reinventing the wheel A waste of effort Transferable skills Configuration management tools Infrastructure as code Dawn of the devop Job satisfaction The Puppet advantage Welcome aboard The Puppet way Growing your network Cloud scaling What is Puppet? The Puppet language Resources and attributes Summary Configuration management What Puppet does The Puppet advantage Scaling The Puppet language 2. First steps with Puppet What you'll need Time for action – preparing for Puppet Time for action – installing Puppet Your first manifest How it works Applying the manifest What just happened?

The term "devops" has begun to be used to describe the growing overlap between these skill sets. It can mean sysadmins who happily turn their hand to writing code when needed, or developers who don't fear the command line, or it can simply mean the people for whom the distinction is no longer useful. Devops write code, herd servers, build apps, scale systems, analyze outages, and fix bugs. With the advent of CM systems, devs and ops are now all just people who work with code. Job satisfaction Being a sysadmin, in the traditional sense, is not usually a very exciting job. Instead of getting to apply your experience and ingenuity to make things better, faster, and more reliable, you spend a lot of time just fixing problems, and making manual configuration changes that could really be done by a machine. The following carefully-researched diagram shows how traditional system administration compares to some other jobs in both excitement and stress levels: We can see from this that manual sysadmin work is both more stressful and more boring than we would like.


pages: 204 words: 54,395

Drive: The Surprising Truth About What Motivates Us by Daniel H. Pink

affirmative action, call centre, Daniel Kahneman / Amos Tversky, Dean Kamen, deliberate practice, Firefox, Frederick Winslow Taylor, functional fixedness, game design, George Akerlof, Isaac Newton, Jean Tirole, job satisfaction, knowledge worker, longitudinal study, performance metric, profit maximization, profit motive, Results Only Work Environment, side project, the built environment, Tony Hsieh, transaction costs, zero-sum game

According to a cluster of recent behavioral science studies, autonomous motivation promotes greater conceptual understanding, better grades, enhanced persistence at school and in sporting activities, higher productivity, less burnout, and greater levels of psychological well-being. Those effects carry over to the workplace. In 2004, Deci and Ryan, along with Paul Baard of Fordham University, carried out a study of workers at an American investment bank. The three researchers found greater job satisfaction among employees whose bosses offered autonomy support. These bosses saw issues from the employee's point of view, gave meaningful feedback and information, provided ample choice over what to do and how to do it, and encouraged employees to take on new projects. The resulting enhancement in job satisfaction, in turn, led to higher performance on the job. What's more, the benefits that autonomy confers on individuals extend to their organizations. For example, researchers at Cornell University studied 320 small businesses, half of which granted workers autonomy, the other half relying on top-down direction.

The businesses that offered autonomy grew at four times the rate of the control-oriented firms and had one-third the turnover. Yet too many businesses remain woefully behind the science. Most twenty-first-century notions of management presume that, in the end, people are pawns rather than players. British economist Francis Green, to cite just one example, points to the lack of individual discretion at work as the main explanation for declining productivity and job satisfaction in the UK. Management still revolves largely around supervision, if-then rewards, and other forms of control. That's true even of the kinder, gentler Motivation 2.1 approach that whispers sweetly about things like empowerment and flexibility. Indeed, just consider the very notion of empowerment. It presumes that the organization has the power and benevolently ladles some of it into the waiting bowls of grateful employees.

This cuts commuting time for staff, removes them from physical monitoring, and provides far greater autonomy over how they do their jobs. The American airline JetBlue was one of the first to try this approach. From its launch in 2000, JetBlue has relied on telephone customer service employees who work at home. And from its launch, JetBlue has earned customer service rankings far ahead of its competitors. Productivity and job satisfaction are generally higher in homeshoring than in conventional arrangements in part because employees are more comfortable and less monitored at home. But it's also because this autonomy-centered approach draws from a deeper pool of talent. Many homeshore employees are parents, students, retirees, and people with disabilities those who want to work, but need to do it their own way. According to one report, between 70 and 80 percent of home-based customer service agents have college degrees double the percentage among people working in traditional call centers.


Not Working by Blanchflower, David G.

active measures, affirmative action, Affordable Care Act / Obamacare, Albert Einstein, bank run, banking crisis, basic income, Berlin Wall, Bernie Madoff, Bernie Sanders, Black Swan, Boris Johnson, business cycle, Capital in the Twenty-First Century by Thomas Piketty, Carmen Reinhart, Clapham omnibus, collective bargaining, correlation does not imply causation, credit crunch, declining real wages, deindustrialization, Donald Trump, estate planning, Fall of the Berlin Wall, full employment, George Akerlof, gig economy, Gini coefficient, Growth in a Time of Debt, illegal immigration, income inequality, indoor plumbing, inflation targeting, job satisfaction, John Bercow, Kenneth Rogoff, labor-force participation, liquidationism / Banker’s doctrine / the Treasury view, longitudinal study, low skilled workers, manufacturing employment, Mark Zuckerberg, market clearing, Martin Wolf, mass incarceration, meta analysis, meta-analysis, moral hazard, Nate Silver, negative equity, new economy, Northern Rock, obamacare, oil shock, open borders, Own Your Own Home, p-value, Panamax, pension reform, plutocrats, Plutocrats, post-materialism, price stability, prisoner's dilemma, quantitative easing, rent control, Richard Thaler, Robert Shiller, Robert Shiller, Ronald Coase, selection bias, selective serotonin reuptake inhibitor (SSRI), Silicon Valley, South Sea Bubble, Thorstein Veblen, trade liberalization, universal basic income, University of East Anglia, urban planning, working poor, working-age population, yield curve

Thinking about the next twelve months, how likely do you think it is that you will lose your job or be laid off—very likely, fairly likely, not too likely, or not at all likely? (variable = joblose) I simply coded the job satisfaction score from 1 to 4, with 4 = very satisfied. The score varied markedly from those who said job loss was not at all likely (3.42), not too likely (3.21), fairly likely (3.05), and very likely (3.04). Job satisfaction is thus higher if your job is secure. Conversely, job insecurity hurts as it lowers job satisfaction. The decline in income is not the only thing that hurts; having a job conveys higher self-esteem. Insecurity lowers job satisfaction. It is not just the unemployed in the United States who are hurting; prime-age men and women who are labor market non-participants are, too. They are the “left-behinds.”

Also, workers in non-union workplaces who say they expect their plant to close earn 19 percent less than those who do not. No evidence could be found for such an effect in the union sector. There is some evidence of an asymmetry or “wage ratchet” in the UK. Workers in expanding plants receive a pay premium while those in contracting plants suffer no pay disadvantage, which is consistent with the claim that wages are more flexible upward than downward. On the same theme, job insecurity lowers job satisfaction.19 We know this from self-reports from workers on how satisfied they are with their jobs and how fearful they are of losing that job. Table 2.1 shows that in France, Italy, and the UK there was a rise in perceptions of job insecurity between 2005 and 2010 as the Great Recession hit. Job insecurity was higher in 2015 than it was in 2005 in these three countries but lower in Germany. In the United States, since 1977 the General Social Surveys have asked workers relevant questions to allow us to establish whether job insecurity impacts happiness at work.

Albania; Argentina; Australia; Azerbaijan; Belarus; Belgium; Bosnia; Brazil; Brunei; Bulgaria; Cambodia; Canada; Chile; China; Colombia; Costa Rica; Croatia; Czech Republic; Denmark; Dominican Republic; Ecuador; El Salvador; Estonia; Finland; France; Germany; Greece; Honduras; Hungary; Iceland; Iraq; Ireland; Israel; Italy; Japan; Kyrgyzstan; Laos; Latvia; Lithuania; Luxembourg; Macedonia; Malta; Mexico; Myanmar; Netherlands; Nicaragua; Nigeria; Norway; Paraguay; Peru; Philippines; Poland; Portugal; Puerto Rico; Romania; Russia; Serbia; Singapore; Slovakia; South Africa; South Korea; Spain; Sweden; Switzerland; Tanzania; Turkey; the UK; Ukraine; Uruguay; the United States; Uzbekistan; and Zimbabwe. Blanchflower 2009; Blanchflower and Oswald 2017. 26. The U-shape is confirmed by other studies (Deaton 2008; Stone et al. 2010; Van Landeghem 2012; Wunder et al. 2013; Schwandt 2016). Gazioglu and Tansel (2006) found that job satisfaction in the UK was U-shaped according to age. It even turns out that there is evidence of a midlife crisis in apes (Weiss et al. 2012). Glenn (2009) argued that it was appropriate to only look at patterns without controls; we disagreed (Blanchflower and Oswald 2009). 27. I estimated OLS regressions in every case containing only an age and age-squared terms pooled across countries. “How satisfied with life as a whole?”


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Brave New Work: Are You Ready to Reinvent Your Organization? by Aaron Dignan

"side hustle", activist fund / activist shareholder / activist investor, Airbnb, Albert Einstein, autonomous vehicles, basic income, Bertrand Russell: In Praise of Idleness, bitcoin, Black Swan, blockchain, Buckminster Fuller, Burning Man, butterfly effect, cashless society, Clayton Christensen, clean water, cognitive bias, cognitive dissonance, corporate governance, corporate social responsibility, correlation does not imply causation, creative destruction, crony capitalism, crowdsourcing, cryptocurrency, David Heinemeier Hansson, deliberate practice, DevOps, disruptive innovation, don't be evil, Elon Musk, endowment effect, Ethereum, ethereum blockchain, Frederick Winslow Taylor, future of work, gender pay gap, Geoffrey West, Santa Fe Institute, gig economy, Google X / Alphabet X, hiring and firing, hive mind, income inequality, information asymmetry, Internet of things, Jeff Bezos, job satisfaction, Kevin Kelly, Kickstarter, Lean Startup, loose coupling, loss aversion, Lyft, Marc Andreessen, Mark Zuckerberg, minimum viable product, new economy, Paul Graham, race to the bottom, remote working, Richard Thaler, shareholder value, Silicon Valley, six sigma, smart contracts, Social Responsibility of Business Is to Increase Its Profits, software is eating the world, source of truth, Stanford marshmallow experiment, Steve Jobs, TaskRabbit, the High Line, too big to fail, Toyota Production System, uber lyft, universal basic income, Y Combinator, zero-sum game

Talent and skills don’t matter if we don’t have the maturity—the courage and humility—to welcome the conditions for continuous growth. And our ability to do this has a lot to do with what psychologists call the four dimensions of core self-evaluation: locus of control, neuroticism, self-efficacy, and self-esteem. Our self-appraisal across these factors plays a predictive role in areas such as job satisfaction and job performance. Locus of control, though, is of particular interest as we explore mastery. The concept was developed by psychologist Julian B. Rotter to describe the degree to which people think they can control the outcomes of events in their lives. People with an internal locus of control believe that they have a high degree of influence over what happens to them. People with an external locus of control believe the opposite, that fate and other people shape their lives.

What they found amounts to no or an even slightly negative correlation between pay and results. Management guru W. Edwards Deming had it right when he said, “Pay is not a motivator.” But then what is it? In 1959 psychologist Frederick Herzberg proposed an answer to that very question in what would come to be known as his two-factor theory. In trying to understand the factors that lead to job satisfaction, he discovered that the opposite of satisfaction was not dissatisfaction. Rather, satisfaction and dissatisfaction appeared to be driven by two completely different sets of variables. Motivators included job characteristics such as recognition for achievement, meaningful and interesting work, involvement in decision making, and advancement or personal growth. Addressing these factors increased satisfaction by improving the nature of the work itself.

Hygiene factors, on the other hand, included company policies, job status and security, supervisory practices, and—you guessed it—salary and benefits. Addressing these factors reduced dissatisfaction by improving the job environment. What does this mean for the world of compensation? It means that increasing salaries that are too low can reduce job dissatisfaction, but increasing salaries that are already generous won’t increase job satisfaction in any meaningful or lasting way. It won’t make us any happier either. According to a study published in the Proceedings of the National Academy of Sciences, household income above $75,000 a year doesn’t make us measurably happier. Below that level, increases or decreases in income were correlated with happiness. Daniel Kahneman, one of the pioneers in the science of cognitive biases, was one of the authors of the study.


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Lab Rats: How Silicon Valley Made Work Miserable for the Rest of Us by Dan Lyons

Airbnb, Amazon Web Services, Apple II, augmented reality, autonomous vehicles, basic income, bitcoin, blockchain, business process, call centre, Clayton Christensen, clean water, collective bargaining, corporate governance, corporate social responsibility, creative destruction, cryptocurrency, David Heinemeier Hansson, Donald Trump, Elon Musk, Ethereum, ethereum blockchain, full employment, future of work, gig economy, Gordon Gekko, greed is good, hiring and firing, housing crisis, income inequality, informal economy, Jeff Bezos, job automation, job satisfaction, job-hopping, John Gruber, Joseph Schumpeter, Kevin Kelly, knowledge worker, Lean Startup, loose coupling, Lyft, Marc Andreessen, Mark Zuckerberg, McMansion, Menlo Park, Milgram experiment, minimum viable product, Mitch Kapor, move fast and break things, move fast and break things, new economy, Panopticon Jeremy Bentham, Paul Graham, paypal mafia, Peter Thiel, plutocrats, Plutocrats, precariat, RAND corporation, remote working, RFID, ride hailing / ride sharing, Ronald Reagan, Rubik’s Cube, Ruby on Rails, Sam Altman, Sand Hill Road, self-driving car, shareholder value, Silicon Valley, Silicon Valley startup, six sigma, Skype, Social Responsibility of Business Is to Increase Its Profits, software is eating the world, Stanford prison experiment, stem cell, Steve Jobs, Steve Wozniak, Stewart Brand, TaskRabbit, telemarketer, Tesla Model S, Thomas Davenport, Tony Hsieh, Toyota Production System, traveling salesman, Travis Kalanick, tulip mania, Uber and Lyft, Uber for X, uber lyft, universal basic income, web application, Whole Earth Catalog, Y Combinator, young professional

A New Kind of Suffering When I wrote Disrupted I thought my experience had been unusual. But now here were all these people telling me they had experienced something similar. This was taking place not just at start-ups and not just in the tech industry, but in many industries and many countries around the world. Job satisfaction in Britain and Germany has been steadily eroding since the 1980s. In the United States, the percentage of workers who say they are satisfied with their jobs dropped from 61.1 percent in 1987 to 50.8 percent in 2016, according to the Conference Board, a research firm, which adds that it’s “very unlikely” that job satisfaction will ever return to 1980s levels. Worldwide, only 13 percent of workers feel “engaged”—meaning enthusiastic at work and committed to their companies—according to Gallup, which has tracked this since 2000. Things are better in the United States, where 32 percent of workers are engaged, but that still means that more than two-thirds of employees are just mailing it in.

Green, Francis, and Nicholas Tsitsianis. “Can the Changing Nature of Jobs Account for National Trends in Job Satisfaction?” Department of Economics Discussion Paper 04/06 at the University of Kent, Canterbury, England, 2004. https://www.kent.ac.uk/economics/documents/research/papers/2004/0406.pdf. Kellaway, Lucy. “Why Is Work Making Us Miserable?” Financial Times, January 22, 2017. https://www.ft.com/content/98d74346-de67-11e6-9d7c-be108f1c1dce. LaBier, Douglas. “Another Survey Shows the Continuing Toll of Workplace Stress.” Psychology Today, April 23, 2014. https://www.psychologytoday.com/us/blog/the-new-resilience/201404/another-survey-shows-the-continuing-toll-workplace-stress. Levanon, Gad. “Job Satisfaction Keeps Getting Better.” Conference Board, September 6, 2017. https://www.conference-board.org/blog/postdetail.cfm?

Business Insider, January 14, 2018. http://www.businessinsider.com/hikikomori-worrying-mental-health-problem-traps-japanese-at-home-2018-1. National Center for Health Statistics. “Health, United States, 2015: With Special Feature on Racial and Ethnic Health Disparities.” U.S. Department of Health and Human Services. https://www.cdc.gov/nchs/data/hus/hus15.pdf. Oswald, Andrew, and Jonathan Gardner. “What Has Been Happening to Job Satisfaction in Britain?” Unpublished paper, University of Warwick, Coventry, England, 2001. https://warwick.ac.uk/fac/soc/economics/staff/ajoswald/sat90supdate.pdf. Pratt, Laura A., Debra J. Brody, and Qiuping Gu. “Antidepressant Use Among Persons Aged 12 and Over: United States, 2011–2014.” National Center for Health Statistics Data Brief no. 283, August 2017. https://www.cdc.gov/nchs/data/databriefs/db283.pdf.


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Competition Overdose: How Free Market Mythology Transformed Us From Citizen Kings to Market Servants by Maurice E. Stucke, Ariel Ezrachi

affirmative action, Airbnb, Albert Einstein, Andrei Shleifer, Bernie Sanders, Boeing 737 MAX, Cass Sunstein, choice architecture, cloud computing, commoditize, corporate governance, Corrections Corporation of America, Credit Default Swap, crony capitalism, delayed gratification, Donald Trump, en.wikipedia.org, George Akerlof, gig economy, Goldman Sachs: Vampire Squid, Google Chrome, greed is good, hedonic treadmill, income inequality, income per capita, information asymmetry, invisible hand, job satisfaction, labor-force participation, late fees, loss aversion, low skilled workers, Lyft, mandatory minimum, Mark Zuckerberg, market fundamentalism, mass incarceration, Menlo Park, meta analysis, meta-analysis, Milgram experiment, mortgage debt, Network effects, out of africa, payday loans, Ponzi scheme, precariat, price anchoring, price discrimination, profit maximization, profit motive, race to the bottom, Richard Thaler, ride hailing / ride sharing, Robert Bork, Robert Shiller, Robert Shiller, Ronald Reagan, shareholder value, Shoshana Zuboff, Silicon Valley, Snapchat, Social Responsibility of Business Is to Increase Its Profits, Stanford prison experiment, Stephen Hawking, The Chicago School, The Market for Lemons, The Myth of the Rational Market, The Wealth of Nations by Adam Smith, Thomas Davenport, Thorstein Veblen, Tim Cook: Apple, too big to fail, transaction costs, Uber and Lyft, uber lyft, ultimatum game, Vanguard fund, winner-take-all economy

Federal Trade Commission, “Children’s Online Privacy Protection Rule (‘COPPA’),” 16 C.F.R. part 312, https://www.ftc.gov/enforcement/rules/rulemaking-regulatory-reform-proceedings/childrens-online-privacy-protection-rule. Chapter 9: How Greedy Are We? Redefining the Competition Ideal to Reflect Our Values 1.Charles Duhigg, “Wealthy, Successful, and Miserable,” New York Times Magazine, February 21, 2019, https://nyti.ms/2NimgU5. 2.Gad Levanon, “Job Satisfaction Keeps Getting Better,” Conference Board, September 6, 2017, https://www.conference-board.org/blog/postdetail.cfm?post=6391; David Z. Morris, “U.S. Job Satisfaction Hits Its Highest Level Since 2005,” Fortune, September 1, 2017, https://fortune.com/2017/09/01/job-satisfaction-highest-since-2005/. 3.Organisation for Economic Co-operation and Development, “Social and Welfare Issues: Inequality,” accessed May 3, 2019, https://www.oecd.org/social/inequality.htm. 4.Carlotta Balestra and Richard Tonkin, “Inequalities in Household Wealth across OECD Countries: Evidence from the OECD Wealth Distribution Database,” OECD Statistics Working Papers, January 2018, https://read.oecd-ilibrary.org/economics/inequalities-in-household-wealth-across-oecd-countries_7e1bf673-en#page7. 5.United Nations Human Rights Council, “Report of the Special Rapporteur on Extreme Poverty and Human Rights on His Mission to the United States of America,” A/HRC/38/33/Add.1, June–July 2018, https://undocs.org/A/HRC/38/33/ADD.1, 4. 6.Liz Alderman, “Europe’s Middle Class Is Shrinking.

Redefining the Competition Ideal to Reflect Our Values When returning to Harvard in 2017 to attend his fifteenth business school reunion, the Pulitzer Prize–winning journalist Charles Duhigg observed that most of his classmates, although doing very well financially, seemed miserable and unfulfilled.1 They were weary of their work, which was insanely stressful; distrustful and wary of coworkers who were so eager for their next promotion that they were constantly undermining each other; and feeling a sense of emptiness when they questioned the meaning of what they were doing in their professional lives. And they were not alone. Though one survey found that job satisfaction levels across the United States had increased very slightly in the last ten years or so, to 51 percent in 2016, in a disturbing conclusion it also noted that they remain well below what they were in 1987, when 61.1 percent of workers reported being satisfied with their jobs—and moreover that it was unlikely that satisfaction would return to that level in the future.2 Duhigg’s classmates are unhappy despite well-paying jobs, but many of us don’t have the luxury of such well-cushioned unhappiness.

., 235–36, 237 Smith on, 236–37 squeezed out by bad competition, 230 Ultimatum Game, 237–39, 240 See also noble competition competition ideology, 121–45 overview, xiii, 142–45, 291–92 and bank deregulation, 127–30 belief that competition is necessary and always good, 123–26 cost of competition ideology, 138–40 current oversimplified version, 228 for defusing responsibility, 282 for deregulating, 155–57 eroding social capital, 249–51 federal courts, 125–26 Federal Reserve Chairman, 128 and lobbyists, 152, 155–57 only choices are competition or communism/socialism, 233 and public program spending cuts, 184–85 reductive competition ideology, 126–30, 146–47, 155–57, 176 rise of, without qualifiers, 131, 131–32, 132 safety net for those left behind, 269–72 UK’s privatization of their water supply, 187–89 using to reframe toxic effects of competition, 281 utilizing in the absence of competition, 176–77 competition machine, 41–66 overview, 65–66, 70 and Boeing MAX jets‘ fatal flaw, 264–67 consumers‘ belief in, 47–48, 49 fraud discovery and placing blame, 45–47 government’s responsibility to provide regulatory guardrails, 264–67 horsemeat scandal, xii, 41–42, 45–47 steam engine metaphor, 42 competition machine conditions consumers do not notice quality degradation, 49, 58–62 diminishing profitability, 45, 49, 50–58 intense competitive pressure, 43–45, 44, 49, 50 sellers’ challenged by consumers’ failure to notice quality degradation, 49, 62–65 Competitive Escalation Paradigm, 35–36 competitors alignment of collective and individual interests of, 70 harm from race to the bottom, 4–6, 9–12, 25–27 identifying and exploiting customers’ weaknesses, 73–74, 82–84 limiting customer choices, 102–3 complex pricing, 82 conditional cooperation, 240–44 Consumer Financial Protection Bureau (CFPB), 268–69 consumers belief that high price = quality, 59–60 data on behaviors of, 87–91, 204–5, 207–9 data on emotions of, 205, 218–19, 220 gazelles with trackers metaphor, 92–93 identifying weaknesses of, 199–201 irrationality of, 71–74 job satisfaction levels, 227 life satisfaction levels, 247–49, 252 products with choice overload built in, 103–4 Trump rolling back financial protection for, 268–69, 285–86 See also competition machine conditions Cook, Tim, 221–22 CoreCivic, 166–70, 169, 173, 175, 177 Cornell University rejection rate, 15 corporations. See big business; specific businesses Corrections Corporation of America (CCA), 165, 166, 170.


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So Good They Can't Ignore You: Why Skills Trump Passion in the Quest for Work You Love by Cal Newport

Apple II, bounce rate, business cycle, Byte Shop, Cal Newport, capital controls, cleantech, Community Supported Agriculture, deliberate practice, financial independence, follow your passion, Frank Gehry, information asymmetry, job satisfaction, job-hopping, knowledge worker, Mason jar, medical residency, new economy, passive income, Paul Terrell, popular electronics, renewable energy credits, Results Only Work Environment, Richard Bolles, Richard Feynman, rolodex, Sand Hill Road, side project, Silicon Valley, Skype, Steve Jobs, Steve Wozniak, web application, winner-take-all economy

As I just established, the last several decades are marked by an increasing commitment to Bolles’s contagious idea. And yet, for all of this increased focus on following our passion and holding out for work we love, we aren’t getting any happier. The 2010 Conference Board survey of U.S. job satisfaction found that only 45 percent of Americans describe themselves as satisfied with their jobs. This number has been steadily decreasing from the mark of 61 percent recorded in 1987, the first year of the survey. As Lynn Franco, the director of the Board’s Consumer Research Center notes, this is not just about a bad business cycle: “Through both economic boom and bust during the past two decades, our job satisfaction numbers have shown a consistent downward trend.” Among young people, the group perhaps most concerned with the role of work in their lives, 64 percent now say that they’re actively unhappy in their jobs.

Google Books Ngram Viewer, http://books.google.com/ngrams. 3. Arnett, “Oh, Grow Up! Generational Grumbling and the New Life Stage of Emerging Adulthood—Commentary on Trzesniewski & Donnellan (2010),” Perspectives on Psychological Science 5, no. 1 (2010): 89–92. See section titled “Slackers or Seekers of Identity-Based Work?” for the quote and related discussion. 4. Julianne Pepitone, “U.S. job satisfaction hits 22-year low,” CNNMoney.com, January 5, 2010, http://money.cnn.com/2010/01/05/news/economy/job_satisfaction_report/. 5. Alexandra Robbins and Abby Wilner, Quarterlife Crisis: The Unique Challenges of Life in Your Twenties (New York: Tarcher, 2001). 6. Interview with Peter Travers, Roadtrip Nation Online Video Archive, 2006, http://roadtripnation.com/PeterTravers. Chapter 4: The Clarity of the Craftsman 1. George Graham, “The Graham Weekly Album Review #1551: Jordan Tice: Long Story,” George Graham’s Weekly Album Reviews, March 11, 1999, http://georgegraham.com/reviews/tice.html. 2.


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Human + Machine: Reimagining Work in the Age of AI by Paul R. Daugherty, H. James Wilson

3D printing, AI winter, algorithmic trading, Amazon Mechanical Turk, augmented reality, autonomous vehicles, blockchain, business process, call centre, carbon footprint, cloud computing, computer vision, correlation does not imply causation, crowdsourcing, digital twin, disintermediation, Douglas Hofstadter, en.wikipedia.org, Erik Brynjolfsson, friendly AI, future of work, industrial robot, Internet of things, inventory management, iterative process, Jeff Bezos, job automation, job satisfaction, knowledge worker, Lyft, natural language processing, personalized medicine, precision agriculture, Ray Kurzweil, recommendation engine, RFID, ride hailing / ride sharing, risk tolerance, Rodney Brooks, Second Machine Age, self-driving car, sensor fusion, sentiment analysis, Shoshana Zuboff, Silicon Valley, software as a service, speech recognition, telepresence, telepresence robot, text mining, the scientific method, uber lyft

While it’s true that many organizations can immediately see significant gains when they use AI in conjunction with their existing workforce, what happens if you completely rethink your processes around ultra-smart systems? What kind of growth, services, and products become possible? Your Office Robot To answer those questions, let’s start with a familiar process: categorizing and resolving complaints. In the past, much of the process work around sorting through customer complaints was done manually, and the tedium of many of those tasks detracted from people’s job satisfaction. At Virgin Trains, a train-operating company in the UK, for example, a team of customer service reps would manually read, sort, and route complaints. These repetitive activities diverted employees’ time and attention, and it fatigued them more than other work they did, like directly talking to customers. Because the read-sort-route process is clearly defined, it is in some ways an excellent example of a process ripe for automation.

See personalization cybersecurity, 56–58, 59 Darktrace, 58 DARPA Cyber Grand Challenges, 57, 190 Dartmouth College conference, 40–41 dashboards, 169 data, 10 in AI training, 121–122 barriers to flow of, 176–177 customization and, 78–80 discovery with, 178 dynamic, real-time, 175–176 in enterprise processes, 59 exhaust, 15 in factories, 26–27, 29–30 leadership and, 180 in manufacturing, 38–39 in marketing and sales, 92, 98–99, 100 in R&D, 69–72 in reimagining processes, 154 on supply chains, 33–34 supply chains for, 12, 15 velocity of, 177–178 data hygienists, 121–122 data supply-chain officers, 179 data supply chains, 12, 15, 174–179 decision making, 109–110 about brands, 93–94 black box, 106, 125, 169 employee power to modify AI, 172–174 empowerment for, 15 explainers and, 123–126 transparency in, 213 Deep Armor, 58 deep learning, 63, 161–165 deep-learning algorithms, 125 DeepMind, 121 deep neural networks (DNN), 63 deep reinforcement learning, 21–22 demand planning, 33–34 Dennis, Jamie, 158 design at Airbus, 144 AI system, 128–129 Elbo Chair, 135–137 generative, 135–137, 139, 141 product/service, 74–77 Dickey, Roger, 52–54 digital twins, 10 at GE, 27, 29–30, 183–184, 194 disintermediation, brand, 94–95 distributed learning, 22 distribution, 19–39 Ditto Labs, 98 diversity, 52 Doctors Without Borders, 151 DoubleClick Search, 99 Dreamcatcher, 136–137, 141, 144 drones, 28, 150–151 drug interactions, 72–74 Ducati, 175 Echo, 92, 164–165 Echo Voyager, 28 Einstein, 85–86, 196 Elbo Chair, 136–137, 139 “Elephants Don’t Play Chess” (Brooks), 24 Elish, Madeleine Clare, 170–171 Ella, 198–199 embodied intelligence, 206 embodiment, 107, 139–140 in factories, 21–23 of intelligence, 206 interaction agents, 146–151 jobs with, 147–151 See also augmentation; missing middle empathy engines for health care, 97 training, 117–118, 132 employees agency of, 15, 172–174 amplification of, 138–139, 141–143 development of, 14 hiring, 51–52 job satisfaction in, 46–47 marketing and sales, 90, 92, 100–101 on-demand work and, 111 rehumanizing time and, 186–189 routine/repetitive work and, 26–27, 29–30, 46–47 training/retraining, 15 warehouse, 31–33 empowerment, 137 bot-based, 12, 195–196 in decision making, 15 of salespeople, 90, 92 workforce implications of, 137–138 enabling, 7 enterprise processes, 45–66 compliance, 47–48 determining which to change, 52–54 hiring and recruitment, 51–52 how much to change, 54–56 redefining industries with, 56–58 reimagining around people, 58–59 robotic process automation (RPA) in, 50–52 routine/repetitive, 46–47 ergonomics, 149–150 EstherBot, 199 ethical, moral, legal issues, 14–15, 108 Amazon Echo and, 164–165 explainers and, 123–126 in marketing and sales, 90, 100 moral crumple zones and, 169–172 privacy, 90 in R&D, 83 in research, 78–79 ethics compliance managers, 79, 129–130, 132–133 European Union, 124 Ewing, Robyn, 119 exhaust data, 15 definition of, 122 experimentation, 12, 14 cultures of, 161–165 in enterprise processes, 59 leadership and, 180 learning from, 71 in manufacturing, 39 in marketing and sales, 100 in process reimagining, 160–165 in R&D, 83 in reimagining processes, 154 testing and, 74–77 expert systems, 25, 41 definition of, 64 explainability strategists, 126 explaining outcomes, 107, 114–115, 179 black-box concerns and, 106, 125, 169 jobs in, 122–126 sustaining and, 130 See also missing middle extended intelligence, 206 extended reality, 66 Facebook, 78, 79, 95, 177–178 facial recognition, 65, 90 factories, 10 data flow in, 26–27, 29–30 embodiment in, 140 job losses and gains in, 19, 20 robotic arms in, 21–26 self-aware, 19–39 supply chains and, 33–34 third wave in, 38–39 traditional assembly lines and, 1–2, 4 warehouse management and, 30–33 failure, learning from, 71 fairness, 129–130 falling rule list algorithms, 124–125 Fanuc, 21–22, 128 feedback, 171–172 feedforward neural networks (FNN), 63 Feigenbaum, Ed, 41 financial trading, 167 first wave of business transformation, 5 Fletcher, Seth, 49 food production, 34–37 ForAllSecure, 57 forecasts, 33–34 Fortescue Metals Group, 28 Fraunhofer Institute of Material Flow and Logistics (IML), 26 fusion skills, 12, 181, 183–206, 210 bot-based empowerment, 12, 195–196 developing, 15–16 holistic melding, 12, 197, 200–201 intelligent interrogation, 12, 185, 193–195 judgment integration, 12, 191–193 potential of, 209 reciprocal apprenticing, 12, 201–202 rehumanizing time, 12, 186–189 relentless reimagining, 12, 203–205 responsible normalizing, 12, 189–191 training/retraining for, 211–213 Future of Work survey, 184–185 Garage, Capital One, 205 Gaudin, Sharon, 99 GE.

See Watson (IBM) “if-then” rules, 25 Illumeo, 142 image recognition, 66 incubators, 162 industries, redefining, 56–58 Inertia Switch, 23 inference systems, 64 information analysis, 10 information technology (IT) cybersecurity and, 56–58, 59 in process automation, 5 Init.ai, 121 innovation, 152 generative design and, 135–137 observation and, 69–72 See also experimentation; research and development (R&D) Institute for the Future, 187 institutional review boards (IRBs), 78 inSTREAM, 47–48 Intel AI Day, 188 intelligence, extended and embodied, 206 intelligent agents, 65 IntelligentX Brewing Company, 76 interaction, 107, 139 jobs with, 143–146 See also augmentation; missing middle interaction agents, 143–146 interaction modelers, 120 internet of things (IoT), 34, 36, 37 interrogation, intelligent, 12, 185, 193–195 intuition, 191–193 inventory management, 30–33 iPhone, 176 IPSoft, 55–56, 139, 164, 201 iRobot, 24 IT security, 56–58, 59 Järborg, Rasmus, 55 job creation, 11, 113–115, 208–211 in data supply chains, 179 education and training for, 132–133 ethics compliance and, 79 explainers, 122–126 in manufacturing, 20 in marketing and sales, 100–101 in sustaining, 126–132 in training, 100, 114–122 See also fusion skills job loss, 19, 20, 209 job satisfaction, 46–47 job searches, 198–199 John Radcliffe Hospital, 197 Johnson & Johnson, 82 judgment integration, 12, 191–193 Kaiser Permanente, 188 Kaplan, Jerry, 60 Kelton, Fraser, 97 Keshavan, Meghana, 82 Kik, 91, 97 Kindred AI, 200 Kiva Robots, 31 knowledge representation, 63–64 Koko, 97, 117–118 Kowalski, Jeff, 137 Kraft Phone Assistant, 91 Lambda Chair, 136–137 Lange, Danny, 43 Las Vegas Sands Corp., 76 Laws of Robotics, 128–129 leadership, 14–15, 153–181, 213 blended culture and, 166–174 data supply chains and, 174–179 in enterprise processes, 58–59 in manufacturing, 38 in marketing and sales, 100 in normalizing AI, 190–191 in R&D, 83 in reimagining processes, 154, 180–181 learning deep reinforcement, 21–22 distributed, 22 reinforcement, 62 in robotic arms, 24–26 semi-supervised, 62 sensors and, 24–26 supervised, 60 unsupervised, 61–62 See also machine-learning technologies Leefeldt, Ed, 99 Lee Hecht Harrison, 199 legal issues.


pages: 426 words: 115,150

Your Money or Your Life: 9 Steps to Transforming Your Relationship With Money and Achieving Financial Independence: Revised and Updated for the 21st Century by Vicki Robin, Joe Dominguez, Monique Tilford

asset allocation, Buckminster Fuller, buy low sell high, credit crunch, disintermediation, diversification, diversified portfolio, fiat currency, financial independence, fixed income, fudge factor, full employment, Gordon Gekko, high net worth, index card, index fund, job satisfaction, Menlo Park, money market fund, Parkinson's law, passive income, passive investing, profit motive, Ralph Waldo Emerson, Richard Bolles, risk tolerance, Ronald Reagan, Silicon Valley, software patent, strikebreaker, Thorstein Veblen, Vanguard fund, zero-coupon bond

LaBier found that focusing on money/position/ success at the expense of personal fulfillment and meaning had led 60 percent of his sample of several hundred to suffer from depression, anxiety and other job-related disorders, including the ubiquitous “stress.”1 Even though the official workweek has been pegged at forty hours for nearly half a century, many professionals believe they must work overtime and weekends to keep up. A 2003 national survey from the Center for a New American Dream found that 3 in 5 Americans feel pressure to work too much.2 In addition, a 2005 Conference Board study revealed that Americans are growing increasingly unhappy with their jobs. The study found widespread declines in job satisfaction among workers of all ages and across all income brackets.3 We are working more, but enjoying life less (and possibly enjoying less life as well). We have developed a national disease based on how we earn money. What Do We Have to Show for It? Even if we aren’t any happier, you’d think that we’d at least have the traditional symbol of success: money in the bank. Not so. Our savings rate has actually gone down.

You just need to ask the question of each expense category: How would expenditures in this category change if I didn’t have to work for a living? Remember: No shame, no blame. You aren’t violating your commitment to your profession by asking that question. Nor are you expressing disloyalty to your boss or dissatisfaction with your job by considering how you might spend your money if you were doing something else. If you love your job, the simple monthly exercise of asking this question will only increase your job satisfaction because you will increase your certainty that you are there by choice. IMPLICATIONS OF THIS STEP Step 4 is the heart of this program. Don’t worry if your life purpose or your internal yardstick is not crystal-clear. For some individuals this program has been the process by which they defined their values and purpose. The very process of asking and answering the three questions month in and month out will clarify and deepen your understanding of fulfillment and purpose.

◆The rising awareness of issues of social justice and ecology is tearing some workers in two: economically they need their jobs, but ethically they don’t support the products or services their companies provide. ◆Retirement security is no longer secure. Major pension funds have gone bankrupt, many corporations are shifting saving for retirement back onto the shoulders of workers and some even wonder about the security of our national social security safety net. ◆According to a recent Conference Board report, Americans are growing increasingly unhappy with their jobs. The decline in job satisfaction is widespread among workers of all ages and across all income brackets.13 ◆A poll conducted by the Center for a New American Dream found that more than half of Americans say they would be willing to give up a day’s pay a week for an extra day of free time.14 We’ve had enough, it would seem, of making a dying in such a crazy world. We spend the major portion of our waking hours at our jobs, and it hardly seems worth it.


pages: 325 words: 73,035

Who's Your City?: How the Creative Economy Is Making Where to Live the Most Important Decision of Your Life by Richard Florida

active measures, assortative mating, barriers to entry, big-box store, blue-collar work, borderless world, BRICs, business climate, Celebration, Florida, correlation coefficient, creative destruction, dark matter, David Brooks, David Ricardo: comparative advantage, deindustrialization, demographic transition, edge city, Edward Glaeser, epigenetics, extreme commuting, Geoffrey West, Santa Fe Institute, happiness index / gross national happiness, high net worth, income inequality, industrial cluster, invention of the telegraph, Jane Jacobs, job satisfaction, Joseph Schumpeter, knowledge economy, knowledge worker, low skilled workers, megacity, new economy, New Urbanism, Peter Calthorpe, place-making, post-work, Richard Florida, risk tolerance, Robert Gordon, Robert Shiller, Robert Shiller, Seaside, Florida, Silicon Valley, Silicon Valley startup, superstar cities, The Death and Life of Great American Cities, The Wealth of Nations by Adam Smith, Thomas L Friedman, urban planning, World Values Survey, young professional

When asked to rate happiness in relation to things like work, finances, personal life, and place on a 1 to 5 scale, place scored 3.63, behind personal life (4.08) and work (3.98) but ahead of finances (3.46). To more accurately gauge how these factors interact, Irene Tinagli of Carnegie Mellon and I conducted a multivariate statistical analysis that included measures of place satisfaction, job satisfaction, financial satisfaction, and a sense of safety and stress, as well as control variables for demographic factors such as age, race, gender, and income. Together, according to Tinagli’s analysis, place, financial, and job satisfaction accounted for a quarter of the total variance in overall life satisfaction—a substantial amount statistically speaking. This becomes even clearer when we consider that all of the demographic factors taken together, including income, account for only 1.2 percent of the variance in overall life satisfaction.6 The place we live is more important to our happiness than education or earnings.

Seligman, “Beyond Money: Toward an Economy of Well-Being,” Psychological Science in the Public Interest 5, 1, 2004, pp. 1-31.Betsy Stevenson and Justin Wolfers, “Economic Growth and Subjective Wellbeing: reassessing the Easterlin Paradox,” Wharton School, University of Pennsylvania, May 9, 2008, http://bpp.wharton.upenn.edu/jwolfers/Papers/EasterlinParadox.pdf. 3 Also see Angus Deaton, “Income, Aging, Health, and Wellbeing Around the World: Evidence from the Gallup World Poll,” Center for Health and Wellbeing, Research Program in Development Studies, Princeton University, August 2007. 4 Nick Paumgarten, “There and Back Again,” New Yorker, April 16, 2007. 5 Robert Manchin, “The Emotional Capital and Desirability of European Cities,” Gallup Europe, presented at the European Week of Cities and Regions, Brussels, October 2007. 6 The correlation coefficients between overall happiness and various factors are as follows: financial satisfaction (.369), job satisfaction (.367), place satisfaction (.303). Compare with income (.153), homeownership (.126), and age (.06). The regression coefficients (from an ordered probit regression) are as follows: financial satisfaction (.342), place satisfaction (.254), job satisfaction (.254). Compare with income (.039), age (-.06), and education (-.09). 7 The overall correlation between income and community satisfaction is relatively weak (.15). 8 Veolia Observatory of Urban Lifestyles, Life in the City (Paris), http://www.observatoire.veolia.com/en, 2008. 9 Mihaly Csikszentmihalyi, Flow: The Psychology of Optimal Experience, HarperCollins, 1990; and Csikszentmihalyi, Finding Flow: The Psychology of Engagement with Everyday Life, Basic Books, 1997. 10 See Teresa Amabile et al., “Affect and Creativity at Work,” Administrative Science Quarterly 50, March 2005, pp. 367-403.


pages: 452 words: 110,488

The Cheating Culture: Why More Americans Are Doing Wrong to Get Ahead by David Callahan

1960s counterculture, affirmative action, business cycle, corporate governance, corporate raider, creative destruction, David Brooks, deindustrialization, East Village, fixed income, forensic accounting, full employment, game design, greed is good, high batting average, housing crisis, illegal immigration, income inequality, job satisfaction, mandatory minimum, market fundamentalism, McMansion, microcredit, moral hazard, new economy, New Urbanism, offshore financial centre, oil shock, old-boy network, plutocrats, Plutocrats, postindustrial economy, profit maximization, profit motive, RAND corporation, Ray Oldenburg, Robert Bork, rolodex, Ronald Reagan, shareholder value, Shoshana Zuboff, Silicon Valley, Steve Jobs, The Bell Curve by Richard Herrnstein and Charles Murray, The Chicago School, Thorstein Veblen, War on Poverty, winner-take-all economy, World Values Survey, young professional, zero-sum game

Polls also find that large percentages of employees say they've witnessed something illegal or unethical happening at work over the past year. At the same time, only half of workers say they get a sense of identity from their job, a third say they'd be happier in another job, and nearly half say they are stressed out a great deal of the time at work. Many workers also gripe about how much money they make (not enough), their health insurance benefits (or lack thereof), and their chances for promotion (poor). While job satisfaction is relatively high, it has been declining over the past decade, and loyalty among most workers is paper thin: One 2002 survey found that only a quarter of workers plan to stay at their jobs for at least two years and that half wouldn't recommend their company to someone else. Barely a majority of workers in this survey said their employer treated them fairly and, on balance, the survey classified only 24 percent of workers as "truly loyal."

There are few surveys of lawyers, doctors, professional athletes, or accountants that have asked the same questions about ethics over time. Surveys on the ethics of corporate employees by several organizations, including the Ethics Resource Center, do allow for comparisons over time, but most of these surveys only began a few years ago. Throughout the book, I have mainly used opinion-survey data in an effort to understand the public's views about personal values, job satisfaction, economic security, social trust, perceptions of fairness, and the like. Here and there, I have found surveys on Americans' attitudes toward different forms of cheating, such as auto-insurance fraud, music piracy, or tax evasion. Typically, though, these polls are one-shot deal, and don't allow for serious comparisons over time. For example, over the past thirty years, the General Social Survey has only twice asked a question about cheating on taxes, in 1991 and 1998.

Neil Fligstein and Taek-Jin Shin, "The Shareholder Value Society: A Review of the Changes in the Working Conditions and Inequality in the U.S., 1976–2000," unpublished paper. [back] 6. David Brooks, "The Triumph of Hope," New York Times, 12 January 2003. [back] 7. On anxiety, see Robert Putnam's analysis of DDB Needham Life Style Survey data, Bowling Alone: The Collapse and Revival of American Community (New York: Simon & Schuster, 2000), 475. On job satisfaction, see Fligstein and Shin, "The Shareholder Value Society." Evidence of growing insecurity and anxiety is by no means ironclad and this remains a disputed point among scholars. See, for example, Kenneth Deavers, "Downsizing, Job Insecurity, and Wages: No Connection," Employment Policy Foundation, May 1998. [back] 8. Michael Hout, "Money and Morale: What Growing Economic Inequality Is Doing to Americans' View of Themselves and Others," working paper, Survey Research Center, 3 January 2003.


pages: 344 words: 94,332

The 100-Year Life: Living and Working in an Age of Longevity by Lynda Gratton, Andrew Scott

3D printing, Airbnb, assortative mating, carbon footprint, Clayton Christensen, collapse of Lehman Brothers, creative destruction, crowdsourcing, delayed gratification, disruptive innovation, diversification, Downton Abbey, Erik Brynjolfsson, falling living standards, financial independence, first square of the chessboard, first square of the chessboard / second half of the chessboard, future of work, gender pay gap, gig economy, Google Glasses, indoor plumbing, information retrieval, intangible asset, Isaac Newton, job satisfaction, longitudinal study, low skilled workers, Lyft, Nelson Mandela, Network effects, New Economic Geography, old age dependency ratio, pattern recognition, pension reform, Peter Thiel, Ray Kurzweil, Richard Florida, Richard Thaler, Second Machine Age, sharing economy, side project, Silicon Valley, smart cities, Stanford marshmallow experiment, Stephen Hawking, Steve Jobs, The Future of Employment, uber lyft, women in the workforce, young professional

In a 24/7 working environment, falling short in terms of hours worked runs the risk not just of losing business but of losing a huge amount of business. Perhaps even more intriguing is that high wage jobs, and the long hours they demand, may also contain aspects that are enjoyable. This is not to deny the stresses and pressures that come with such positions, but it is striking that studies show that job satisfaction increases with the wage attached to a job.5 It could be that wages are what drive job satisfaction or that the less manual and routine a job, the more enjoyable it is. What seems to be the result is that the more enjoyable a job, the longer hours a person is prepared to work, other things being equal. The enigma of leisure But there are other reasons for feeling time-poor. Even if on average people are working less, this doesn’t mean they have more leisure.

., The Overworked American (Basic Books, 1993) and Plenitude: The New Economics of True Wealth (Penguin, 2010). 3Veblen, T., The Theory of the Leisure Class: An Economic Study of Institutions (The Macmillan Company, 1899). 4Costa, D., ‘The Wage and Length of the Work Day: From the 1890s to 1991’, Journal of Labor Economics (1998): 133–59. 5See for instance Grund, C. and Silwka, D., ‘The Impact of Wage Increases on Job Satisfaction – Empirical Evidence and Theoretical Implications’, IZA Discussion Paper 01/2001. 6Ramey, V. A. and Francis, N., ‘A Century of Work and Leisure’ (National Bureau of Economic Research, 2006). 7Aguiar, M. and Hurst, E., ‘Measuring Trends in Leisure: The Allocation of Time Over Five Decades’, Quarterly Journal of Economics 122 (3) (2007). 8Becker, G., ‘A Theory of the Allocation of Time’, Economic Journal (1965): 493–517; Linder, S., The Harried Leisure Class (Columbia University Press, 1970). 9http://www.ft.com/cms/s/0/4899aaf8-0e9f-11e4-ae0e-00144feabdc0.html#axzz3nJ2crVXm 10Goldin, C., ‘A Grand Gender Convergence: Its Last Chapter’, American Economic Review 104 (4) (2014): 1–30. 11Elsbach, K. and Cable, D.

Index The letter f following an entry indicates a figure 3.0 scenarios here–here, here, here, here 3.5 scenarios here–here, here, here 4.0 scenarios here–here, here–here, here, here 5.0 scenarios here–here, here, here, here, here, here–here Acorns here activities of daily living (ADL) here adolescence here–here, here adult equivalence scales here age cognition and here–here corporations and here explorers and here–here government policy and here independent producers and here life stages and here–here, here–here portfolios and here predictability of here segregation and here–here, here–here, here, here–here age process algorithms here, here ageing process here, here ageism here, here agency here, here, here finance and here–here agriculture here–here Amazon here anxiety here appearance here Apple iPhone here reputation here Archer, Margaret here Artificial Intelligence (AI) here, here, here, here education and here human skills and here medical diagnoses and here–here, here skills and knowledge and here–here Asia here assets here, here see also intangible assets; tangible assets; transformational assets assortative mating here–here, here Astor, Brooke here Autor, David here–here, here Baby Boomers here–here beauty here Becker, Gary: ‘Treatise on the Family’ here, here–here, here behavioural nudges here Benartzi, Shlomo here benefits here–here see also welfare Bennis, Warren here birth rates, decline in here–here, here brain, the here–here, here–here cognition here Braithwaite, Valerie here Brontë, Charlotte: Jane Eyre here Buffett, Warren here–here Calico (California Life Company) here Calment, Jeanne here careers breaks and here changes and here–here dual careers here, here, here cell aging here centenarians here, here–here change here–here catalysts for here–here corporations and here–here, here education and here–here government policy and here–here, here identity and here–here inequalities and here–here mastery and here–here planning and experimentation and here–here rate of here–here Cherlin, Andrew here chess here children here, here–here, here Christensen, Clayton here Cloud Robotics here cohort estimate of life expectancy here, here, here companies here, here–here, here–here Amazon here Apple here–here change and here–here, here creative clusters here–here economies of scale and here–here Facebook here flexibility here–here, here–here reputation and here–here research and here small business ecosystems here–here technology and here–here Twitter here value creation here–here WhatsApp here compression of morbidity here–here computing power here–here, here–here see also Moore’s Law connectivity here–here consumerism here, here consumption complementarities here–here consumption levels here, here continuums here corporations here–here, here–here see also companies creative clusters here–here independent producers and here–here creativity here cross-age friendships here crucible experiences here–here Deep Learning here dementia here depreciation here developing countries life expectancy and here–here, here state pensions and here Dickens, Charles: Old Curiosity Shop, The here diet here Dimson, Elroy here disabilities here discounting here discretionary time here diverse networks here, here–here Doctorow, Corey: Makers, The here Downton Abbey effect, the here–here Doyle, Arthur Conan here driverless cars here, here dual career households here, here, here Dweck, Carol here–here dynamic/diverse networks here, here–here Easterlin’s Paradox here economy, the here–here agriculture and here–here gig economy here job creation and here–here leisure industry and here service sector and here sharing economy here, here stability and here education here, here–here, here–here see also mastery experiential learning here–here, here, here human skills and judgement and here ideas and creativity and here institutions here–here learning methods here mental flexibility and agility and here–here multi-stage life and here specialization here–here, here, here technology and here, here, here training here efficacy here, here, here–here elasticity here–here emerging markets life expectancy and here state pensions and here emotional spillover here employers here–here, here employment see also companies; employment changes age and here, here–here, here–here changes and here, here, here–here, here–here city migration and here–here creation here–here demographics and here, here–here diverse networks and here–here elasticity and here–here environmental concerns and here–here, here family structures and here–here, here, here–here, here, here, here–here flexibility and here–here, here, here–here, here–here, here–here, here hollowing out of work here–here, here, here home and here job classification here–here knowledge and skills and here levels here, here matches here–here mobility here multi-stage life and here office-based here paid leave here participation rates here–here, here pay here–here, here psychological contract here satisfaction here–here self-employment here–here specialization and here–here statistics here status and here supply and here–here technology and here, here–here, here–here, here, here, here–here, here unique human skills here–here, here vacancies here–here women and here–here working hours here–here, here working week here–here employment changes here, here, here–here companies and here–here industry sectors and here–here, here entrepreneurship here–here see also independent producers equity release schemes here experiential learning here–here, here, here experimentation here, here–here, here–here explorers here–here, here–here adventurers here age and here–here assets and here crucible experiences and here–here options and here–here searchers here, here exponential discounting here exponential growth here–here Facebook here families here, here, here–here, here children here, here–here, here dual career households here, here, here marriage here–here work and here, here finance here, here–here see also pensions age process algorithms here, here agency and here–here automation and here–here costs here–here efficacy and here–here equity release schemes here flexibility here governments and here–here, here, here–here health and here housing and here–here hyperbolic discounting here–here inheritances here–here investment here, here–here, here–here, here, here old age and here–here pay here–here, here pension replacement rates here–here, here, here–here portfolios here–here psychology and here–here retirement and here–here fitness and health here–here see also health Fleming, Ian here flexibility here, here–here, here, here–here, here–here, here corporations and here–here government policy and here–here working patterns and here flexibility stigma here, here Ford, Henry here Foxconn here Frey, Carl here Friedman, Stewart here–here, here Fries, James here, here Future of Work Consortium here future selves here–here future selves case studies Jane here–here, here–here Jimmy here–here, here galumphing here–here gender here, here see also women inequality here–here, here–here, here, here, here specialization of labour here, here–here, here, here, here–here Generation Y here generational attitudes here gerontology here Giddens, Anthony here, here gig economy here–here globalization here Goldin, Claudia here, here Google here governments here, here–here, here inequalities and here–here pensions and here–here rate of change and here–here Gratton, Lynda here Shift, The here growth mindset here–here Groysberg, Boris here Haffenden, Margaret here Hagestad, Gunhild here–here, here Harvard Grant Study here health here, here–here brain, the here–here chronic diseases here–here, here compression of morbidity here–here dementia here diseases of old age here–here finance and here improvements in here–here inequality here, here–here infectious diseases here public health here stress here–here healthy life expectancy here heterogeneity here hollowing out of work here–here, here, here home, work and here household here–here see also home economies of scale and here–here relationships here, here–here, here, here housing here–here imputed rent here, here ownership here HR policies here–here human skills here–here, here, here, here hyperbolic discounting here–here Ibarra, Herminia here identity here–here, here, here–here, here–here see also self-control; self-knowledge improvisation here–here imputed rent here, here income see also welfare distribution here growth and here inequalities here–here, here–here skills and knowledge and here–here income effect here–here independent producers here–here, here–here assets and here case study here–here creative clusters and here–here learning and here–here prototyping here–here reputation and curating and here–here India here–here Individual, the here Industrial Revolution, the here–here, here, here, here inequalities here–here gender and here–here, here–here, here, here, here government policy and here–here health here, here–here income here–here, here–here life expectancy and here–here, here–here, here infant mortality here intangible assets here–here, here–here, here case studies here–here, here–here, here corporations and here–here endowed individual characteristics here, here independent producers and here marriage and here productive assets see productive assets time and here transformational assets see transformational assets transitions and here–here vitality assets see vitality assets International Labour Organization (ILO) here ‘Women and the Future of Work’ here investment here, here–here, here–here, here Japan centenarians here–here life expectancy here, here–here,here–here, here pensions and here population decline and here job classification here–here job creation here–here job satisfaction here–here juvenescence here, here–here, here Kahneman, Daniel here Kegan, Robert here Keynes, John Maynard: Economic Possibilities of Our Grandchildren here knowledge see skills and knowledge Kurzweil, Ray here labour market see employment Lampedusa, Giuseppe : Leopard, The here law (occupation) here–here leadership here learning methods here leisure class here leisure industry here, here, here–here leisure time here, here, here–here, here–here, here–here Keynes, John Maynard and here life expectancy here–here, here see also long life best practice here, here calculating here–here, here chronic diseases and here–here cohort estimate of here, here, here developing countries and here–here diseases of old age and here–here government plans and here healthy life expectancy here historical here, here, here increase in here–here, here India and here–here inequalities in here–here, here–here, here infant mortality and here Japan and here, here–here, here–here, here limit to here–here period life expectancy measure here, here–here public health innovations and here South Korea here US and here–here Western Europe here life stages here–here, here–here age and here–here experiential learning and here explorers and here–here, here–here independent producers and here–here, here–here juvenescence and here, here–here multi-stage model here, here–here, here, here, here–here, here–here, here new stages here, here see also life stages case studies portfolios and here–here, here–here three-stage model here, here–here, here–here, here–here, here–here, here–here, here–here transitions and here life stages case studies diversity and here Jane here–here Jimmy here–here, here lifetime allowances here–here, here, here liminality here Linde, Charlotte here lockstep of action here–here, here London here–here London Business School here long life see also life expectancy as a curse here, here as a gift here, here Luddites, the here machine learning here marriage here–here Marsh, Paul here Marshall, Anthony here mastery here–here matching here–here Millenials here Mirvas, Philip here Modigliani, Franco here MOOCs (Massive Open Online Courses) here, here Moore’s Law here–here, here Moravec’s Paradox here, here morbidity here–here compression of here–here Morrissey, Francis here mortality here mortality risk here multiple selves here–here National Commission on Technology, Automation, and Economic Progress here neighbourhoods here neoplasticity here neoteny here, here new experiences here occupations here–here old age dependency ration here–here, here Ondine, curse of here options here, here–here Osborne, Michael here paid leave here Parfit, Derek here participation rates here–here, here peers here–here pension case studies Jack here, here–here, here, here Jane here, here, here–here, here, here, here, here, here–here Jimmy here–here, here, here–here, here, here, here–here, here three-stage life model here–here, here–here, here–here pension replacement rate here–here, here, here–here pensions here, here–here, here see also pension case studies amount required here–here funded schemes here goals and here government policy and here–here investment and here, here occupational pensions here–here Pay As You Go schemes here–here, here, here pension replacement rate here–here, here, here–here reform and here state pensions here–here, here period life expectancy measure here, here–here personal brands here pharmacy (occupation) here planning here plasticity here–here play here–here politics, engagement with here Polyani’s Paradox here–here, here population here–here, here–here portfolios (financial) here–here portfolios (life stage) here–here, here–here switching costs here transitions and here–here posse here–here, here possible selves here, here–here possible selves case studies Jane here–here Jimmy here–here, here Preston, Samuel here production complementarities here, here–here, here productive assets here–here, here case studies here, here, here–here, here, here, here, here–here, here, here marriage and here transitions and here professional social capital here–here prototyping here–here psychology here, here–here see also self-control age process algorithms here, here automation and here–here behavioural nudges here saving and here–here pure relationships here, here pyramid schemes here re-creation and recreation here–here, here–here recruitment here reflexive project, the here regenerative community here, here, here Relation P here relationships here–here, here, here children and here–here divorce and here–here, here dual career households here families and here–here, here–here friendships here, here–here household here, here–here, here, here marriage and here–here, here–here matches and here–here multi-generational living here–here, here options and here–here pure relationship here switching roles here, here, here, here–here reputation here–here, here–here, here–here retirees here–here retirement see also pensions age of here, here, here, here, here–here, here consumption levels and here corporations and here, here government policy and here–here stimulation in here, here risk here risk pooling here robotics here, here, here, here see also Artificial Intelligence role models here routine here routine activities here routine-busting here routine tasks here–here Rule of here here Sabbath, the here sabbaticals here–here Save More Tomorrow (SMarT plan) here–here Scharmer, Otto here second half of the chessboard here–here segregation of the ages here–here, here–here, here, here–here self-control here–here, here–here age process algorithms here, here automation and here behavioural nudges here self-employment here–here self-knowledge here–here, here finance and here–here service sector here sexuality here–here Shakespeare, William King Lear here sharing economy here–here, here, here short-termism here–here skills and knowledge here, here–here, here see also human skills earning potential and here professional social capital and here–here technology and here–here valuable here–here Slim, Carlos here smart cities here–here independent producers and here–here social media here, here–here society here spare time here see also leisure time standardized practices here–here Staunton, Mike here strategic bequest motive, the here–here substitution effect here switching here, here, here, here–here tangible assets here–here, here, here, here, here see also housing; pensions case studies here, here, here, here, here, here transitions and here taxation here, here–here Teachers Insurance and Annuity Assurance scheme here technology here, here see also Artificial Intelligence computing power here–here, here–here see also Moore’s Law driverless cars here–here, here education and here, here, here employment and here, here–here, here–here, here, here, here–here, here human skills and here, here innovation and here matching and here relationships and here teenagers here–here, here–here, here, here Thaler, Richard here thick market effects here–here Thomas, R. here time here, here–here see also sabbaticals discretionary time here flexibility and here–here, here Industrial Revolution, the here–here, here–here, here intangible assets and here leisure and here, here, here–here, here–here, here–here restructuring here, here spare time here working hours here–here, here, here–here working hours paradox here–here, here working week, the here–here, here time poor here–here trade unions here transformational assets here, here–here, here–here, here, here, here case studies here–here, here–here, here–here, here–here, here, here, here, here crucible experiences and here corporations and here transitions here, here–here, here–here, here corporations and here financing here–here government policy and here, here nature of here–here portfolios and here–here re-creating here recharging here–here tribal rituals here Twitter here Uhlenberg, Peter here–here, here UK, occupational pension schemes and here–here Unilever here universities here US here–here compression of morbidity and here occupational pension schemes and here Valliant, George here value creation here vitality assets here, here–here, here case studies here, here–here, here, here, here–here, here, here, here, here transitions and here–here website here week, the here–here weekend, the here, here weight loss here welfare here–here see also benefits Wharton School of the University of Pennsylvania here–here, here WhatsApp here Wolfran, Hans-Joachim here women see also gender children and here–here relationships and here, here, here work and here–here Women and Love here work see employment working hours here–here, here, here–here working week, the here–here, here Yahoos here–here youthfulness here–here Bloomsbury Information An imprint of Bloomsbury Publishing Plc 50 Bedford Square 1385 Broadway London New York WC1B 3DP NY 10018 UK USA www.bloomsbury.com BLOOMSBURY and the Diana logo are trademarks of Bloomsbury Publishing Plc First published 2016 © Lynda Gratton and Andrew Scott, 2016 Lynda Gratton and Andrew Scott have asserted their right under the Copyright, Designs and Patents Act, 1988, to be identified as Author of this work.


pages: 505 words: 127,542

If You're So Smart, Why Aren't You Happy? by Raj Raghunathan

Broken windows theory, business process, cognitive dissonance, deliberate practice, en.wikipedia.org, epigenetics, fundamental attribution error, hedonic treadmill, job satisfaction, longitudinal study, Mahatma Gandhi, market clearing, meta analysis, meta-analysis, new economy, Phillip Zimbardo, placebo effect, science of happiness, Skype, The Fortune at the Bottom of the Pyramid, Thorstein Veblen, Tony Hsieh, working poor, zero-sum game, Zipcar

GOAL AVERAGE RANK 1 Great/fulfilling relationships 3.19 2 Being happy 3.31 3 Great career success 4.78 4 Being rich 5.46 5 Being a good person; helping others 6.23 6 Being free to do as you please 7.44 7 Job satisfaction 8.12 8 Physical health 8.86 9 Being famous 9.45 10 Respect/admiration of peers 9.56 11 Spiritual growth 10.19 12 Being really good at something/achieving mastery 11.23 13 Figuring out the meaning of life 11.34 14 Finding your purpose in life 11.79 15 Physical attractiveness 12.22 16 Being powerful 12.67 Sixteen “Life Goals” and Their Average Rank Across Respondents As it turns out, there’s an intriguing reason why people don’t ask the Genie for happiness.

Getting Flow Back into Your (Work) Life If flow is a critical determinant of both happiness and success, then it follows that finding flow at work is important, as we spend the bulk of our “waking life” at work. However, most of us do not find work to be as meaningful or satisfying as we should—or could. A recent worldwide survey revealed that about twice as many employees are dissatisfied with their jobs as are satisfied. This wasn’t always the case. In the 1970s and 1980s, job satisfaction in the United States was much higher than it currently is. Most people recognize that it’s a shame to find work meaningless and unfulfilling. Which is why, as Herminia Ibarra, author of a book called Working Identity, notes, so many of us dream of quitting our jobs one day and doing something more meaningful. But then it remains a dream forever because we are too afraid to actually take the plunge and quit the meaningless job and pursue a meaningful one instead.

As you can tell, such a story is not conducive to happiness. If neediness lowers happiness, one might assume that the opposite of neediness—avoidance—would enhance happiness. But that’s not the case. The discomfort that avoidants feel with intimacy spoils the quality of their relationships. This is a problem that avoidants face both in romantic and in workplace settings. For instance, avoidants experience lower job satisfaction than do either the needy or the secure. Avoidants are also prone to being less satisfied with the help they get from others, and this in turn makes them less likely to engage in healthy collaboration with others. Unsurprisingly, therefore, avoidants aren’t very effective as leaders. A final reason why being avoidant lowers happiness is because, like neediness, it leads to loneliness. Although avoidants view themselves as strong and independent, it turns out that this self-view is mostly a façade.


pages: 290 words: 98,699

Wealth Without a Job: The Entrepreneur's Guide to Freedom and Security Beyond the 9 to 5 Lifestyle by Phil Laut, Andy Fuehl

British Empire, business process, buy and hold, declining real wages, fear of failure, hiring and firing, index card, job satisfaction, Menlo Park, Silicon Valley, women in the workforce

Some content that appears in print may not be available in electronic books. For more information about Wiley products, visit our web site at www.wiley.com. Library of Congress Cataloging-in-Publication Data Laut, Phil. Wealth without a job : the entrepreneur’s guide to freedom and security beyond the 9 to 5 lifestyle / Phil Laut and Andy Fuehl. p. cm. Includes index. ISBN 0-471-65645-3 (cloth) 1. New business enterprises. 2. Entrepreneurship. 3. Job satisfaction. 4. Success in business. I. Fuehl, Andy, 1962– II. Title. HD62.5.L38 2004 658.1'1—dc22 2004002226 Printed in the United States of America. 10 9 8 7 6 5 4 3 2 1 ftoc.qxd 7/9/04 8:20 AM Page vii C O N T E N T S Acknowledgments ix Introduction 1 Earning the Income You Want from Work You Love 11 The Old Methods No Longer Work in Today’s Economy 19 Chapter 3 What the Global Economy Means to You 27 Chapter 4 The Emotional Dynamics of Change 31 Chapter 5 Three Ingredients to Effective Change: Awareness, Acceptance, and Action 61 Chapter 6 Your Recovery from a Good Upbringing 71 Chapter 7 Stop Wasting Your Energy 107 Chapter 8 Your Mind Is Not a Democracy 131 Chapter 9 Mental Flexibility for Peak Performance 159 Chapter 1 Chapter 2 vii ftoc.qxd 7/9/04 8:20 AM Page viii viii Contents Chapter 10 Overall Business Model 179 Chapter 11 Negotiation 185 Chapter 12 Secrets of Compelling Communication 193 Chapter 13 Learning to Sell the Easy Way 209 Chapter 14 Putting It All Together into a Plan 249 Appendix 263 About the Authors 267 Index 273 flast.qxd 7/9/04 8:20 AM Page ix A C K N O W L E D G M E N T S W e extend our heartfelt thanks to the many people who have aided and inspired us in the creation of this book: Linda Konner, our literary agent, for her guidance and wisdom.

Then there is the depressing discovery that salary offers are lower than the job that was left, even though pointing this out may not be politically correct. A so-called side business can offer benefits far beyond the income that it produces. Some of these benefits are: • It can be a prudent first step toward a full-time business of your own. ccc_laut_intro_1-10.qxd 7/8/04 12:22 PM Page 9 Introduction • It can increase your job satisfaction by reducing dependency on your job. • It can be a risk-free way to learn a new occupation. • It can be a way to discover if you would enjoy some new occupation. • It can be a way to grow and expand your mind, discover your true potential and who you really are. Additionally, the fact that job security has disappeared means that you are likely to be in the job market several times during a career, sometimes willingly and other times not.

If you follow rules 7 and 8, you have a less than satisfying relationship with your boss. If it is not OK to take money from friends or from strangers, whom does that leave? Known enemies! This may seem a mere play on words until you consider the sometimes 83 ccc_laut_ch06_71-106.qxd 7/8/04 12:24 PM Page 84 84 Your Recovery from a Good Upbringing suppressed animosity between employers and workers that seems to be expressed only from time to time in labor strife. Job satisfaction is impossible if you view your employer as an adversary. If you follow rule 9, you perform at less than your best or sabotage your success. Why? Excellence always rocks the boat. If you follow rule 10, success does not seem to be worth the price. People try to prove this to be correct by creating endless obstacles and struggles. With this mind-set, you will create losses that you attribute to your progress and that make you wonder whether it is worth it.


pages: 267 words: 72,552

Reinventing Capitalism in the Age of Big Data by Viktor Mayer-Schönberger, Thomas Ramge

accounting loophole / creative accounting, Air France Flight 447, Airbnb, Alvin Roth, Atul Gawande, augmented reality, banking crisis, basic income, Bayesian statistics, bitcoin, blockchain, Capital in the Twenty-First Century by Thomas Piketty, carbon footprint, Cass Sunstein, centralized clearinghouse, Checklist Manifesto, cloud computing, cognitive bias, conceptual framework, creative destruction, Daniel Kahneman / Amos Tversky, disruptive innovation, Donald Trump, double entry bookkeeping, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, Ford paid five dollars a day, Frederick Winslow Taylor, fundamental attribution error, George Akerlof, gig economy, Google Glasses, information asymmetry, interchangeable parts, invention of the telegraph, inventory management, invisible hand, James Watt: steam engine, Jeff Bezos, job automation, job satisfaction, joint-stock company, Joseph Schumpeter, Kickstarter, knowledge worker, labor-force participation, land reform, lone genius, low cost airline, low cost carrier, Marc Andreessen, market bubble, market design, market fundamentalism, means of production, meta analysis, meta-analysis, Moneyball by Michael Lewis explains big data, multi-sided market, natural language processing, Network effects, Norbert Wiener, offshore financial centre, Parag Khanna, payday loans, peer-to-peer lending, Peter Thiel, Ponzi scheme, prediction markets, price anchoring, price mechanism, purchasing power parity, random walk, recommendation engine, Richard Thaler, ride hailing / ride sharing, Sam Altman, Second Machine Age, self-driving car, Silicon Valley, Silicon Valley startup, six sigma, smart grid, smart meter, Snapchat, statistical model, Steve Jobs, technoutopianism, The Future of Employment, The Market for Lemons, The Nature of the Firm, transaction costs, universal basic income, William Langewiesche, Y Combinator

In 2011, a former Amazon engineer named Steve Yegge garnered international attention when he shared his thoughts on his ex-boss in a rant on Google Plus that he had not meant to post publicly. “Bezos is super smart; don’t get me wrong,” Yegge noted. “He just makes ordinary control freaks look like stoned hippies.” On Glassdoor, the website where employees can anonymously rate their employers and managers, Amazon has ranked notoriously low in job satisfaction compared to other darlings of Silicon Valley. Many reviews complain about the demands placed on employees and declare that they have no autonomy. A 2015 New York Times investigation of working conditions among office staff found that employees are “held accountable for a staggering array of metrics” about different aspects of the firm’s operations—running about fifty pages long—and are asked to explain detected inefficiencies in weekly and monthly business review sessions.

In part, this is because firms do not want to institute a mechanism for open internal price competition. In part, though, it is also an attempt to refocus those participating in the market on the diversity of preferences that influence job choices. By using salary prominently in internal talent markets, managers and employees would be tempted to optimize largely on price, thereby running the risk that market participants will overlook other dimensions that are important for job satisfaction. Price can be deemphasized in such internal job-matching platforms by mandating that all parties stick to firmwide salary bands, which are not individually negotiable. That way, some flexibility in agreeing on a salary is retained but the emphasis on it is reduced. Talent-matching platforms are an intriguing way to inject markets rich with information into the organizational structure of the firm.

INDEX abundance of capital, 142–143, 194 of resources, 220–221 accounting, 90 development of, 91–95 reform of, 172–173 Air France Flight 447, 157–159, 170–171 Airbnb, 70 airline industry, 112 Akerlof, George, 40 Alation, 70 Alexa, 79, 164 Alexandria library, 21 algorithms, 5, 8–9, 71–77, 81, 82, 84, 136, 210 development process for, 71–72 fintechs and, 153 firms and, 128 lack of diversity in, 12 open, call for, 167 opportunities provided by, 74–75 Alibaba, 2, 75, 163, 196, 215 Allende, Salvador, 176, 177 Altman, Sam, 189 Amazon, 9, 30, 52, 68, 69, 74, 75, 76–77, 79, 87–89, 96, 102, 107 annual revenues of, 87 data-rich market structure and, 130 feedback effects and, 164 as a firm, 88–89, 106 low job satisfaction in, 88–89 market concentration in, 161 market model of, 87–88 network effects and, 164 research & development in, 196 scale effects and, 164 American Express, 127 American Research and Development Corporation, 216 Andreesen, Marc, 189 Angkor Wat, 21 animal skins (as currency), 48 antitrust measures, 12, 165 Apollo spacecraft, 22, 159 Apple, 55, 75, 79, 121–122, 169, 196, 215 Apple Music, 74 Apple Pay, 135–136, 146 Arendt, Hannah, 223 Armstrong, Neil, 22 artificial intelligence.


pages: 241 words: 78,508

Lean In: Women, Work, and the Will to Lead by Sheryl Sandberg

affirmative action, business process, Cass Sunstein, constrained optimization, experimental economics, fear of failure, gender pay gap, glass ceiling, job satisfaction, labor-force participation, longitudinal study, Mark Zuckerberg, meta analysis, meta-analysis, old-boy network, Richard Thaler, risk tolerance, Silicon Valley, social graph, women in the workforce, young professional

., “Well … She Wants It More: Perceptions of Social Norms About Desires for Marriage and Children and Anticipated Chore Participation,” Psychology of Women Quarterly 34, no. 2 (2010): 253–60, which surveyed college students and found no difference between men and women in their self-reported level of desire to marry. 3. For reviews of studies about job satisfaction and turnover, see Petri Böckerman and Pekka Ilmakunnas, “Job Disamenities, Job Satisfaction, Quit Intentions, and Actual Separations: Putting the Pieces Together,” Industrial Relations 48, no. 1 (2009): 73–96; and Brooks et al., “Turnover and Retention Research: A Glance at the Past, a Closer Review of the Present, and a Venture into the Future,” The Academy of Management Annals 2, no. 1 (2008): 231–74. 4. Caroline O’Connor, “How Sheryl Sandberg Helped Make One Entrepreneur’s Big Decision,” Harvard Business Review Blog Network, September 26, 2011, http://​blogs.​hbr.​org/​cs/​2011/​09/​how_​sheryl_​sandberg_​helped_​mak.​html. 5.

Carter, and Christine Silva, “Why Men Still Get More Promotions than Women,” Harvard Business Review 88, no. 9 (2010): 80–85; and Sylvia Ann Hewlett et al., The Sponsor Effect: Breaking Through the Last Glass Ceiling, a Harvard Business Review Research Report (December 2010): 5–7. 2. Studies have found that people who are mentored and sponsored report having more career success (such as higher compensation, a greater number of promotions, greater career and job satisfaction, and more career commitment). See Tammy D. Allen et al., “Career Benefits Associated with Mentoring for Protégés: A Meta-Analysis,” Journal of Applied Psychology 89, no. 1 (2004): 127–36. A study of several thousand white collar workers with at least a bachelor’s degree found that sponsorship seemed to encourage both men and women to ask for a stretch assignment and a pay increase. Among the men surveyed who had a sponsor, 56 percent were likely to ask for a stretch assignment and 49 percent were likely to ask for a pay raise.


pages: 151 words: 46,281

Clear Your Clutter With Feng Shui by Karen Kingston

job satisfaction

There was once a wonderful book by Declan Treacy with just that title (sadly, it’s no longer in print), in which he described the desks and business practices of some of the top entrepreneurial businesspeople in the world, who all keep paperwork to a minimum. A clear desk means a clear mind, and a clear mind has vision and perspective. If you are bogged down in paperwork, that’s exactly where you’ll stay. Working with a clear desk increases productivity, creativity, and job satisfaction. An excellent habit to acquire is to always leave your desk clear whenever you finish. It is psychologically far more uplifting to start with a clear desk than with mounds of paperwork, which makes you feel defeated before you even begin. So start now by removing from your desk absolutely all paperwork that awaits your attention and all objects that are not absolutely vital. I’m talking here about leaving only real essentials, such as a computer, telephone, pen, and notebook.

Develop a system that lets colleagues know when you are working on something important and do not want to be interrupted (for example, close your office door, put a chair in the doorway, or put up a sign). Make it clear when you will be available, and do the same with emails and voice calls (use autoresponders and voicemail messages to inform people). Give an emergency access route when absolutely necessary and you’ll find most people will adapt to your rules. By planning your interruptions instead of having them constantly bombard you without any control, your productivity and job satisfaction will increase, and your immune system will not take such a pounding. In lab experiments, animals given control of their environment live longer, have higher antibody counts, and fewer ulcers. Your choice. One man sent an email to tell me, “I am busy clearing the clutter. Now I see more clutter than ever. I laugh at myself. I look in a drawer for something and see the mess. I stop and clean out the drawer.


pages: 624 words: 127,987

The Personal MBA: A World-Class Business Education in a Single Volume by Josh Kaufman

Albert Einstein, Atul Gawande, Black Swan, business cycle, business process, buy low sell high, capital asset pricing model, Checklist Manifesto, cognitive bias, correlation does not imply causation, Credit Default Swap, Daniel Kahneman / Amos Tversky, David Heinemeier Hansson, David Ricardo: comparative advantage, Dean Kamen, delayed gratification, discounted cash flows, Donald Knuth, double entry bookkeeping, Douglas Hofstadter, en.wikipedia.org, Frederick Winslow Taylor, George Santayana, Gödel, Escher, Bach, high net worth, hindsight bias, index card, inventory management, iterative process, job satisfaction, Johann Wolfgang von Goethe, Kevin Kelly, Kickstarter, Lao Tzu, lateral thinking, loose coupling, loss aversion, Marc Andreessen, market bubble, Network effects, Parkinson's law, Paul Buchheit, Paul Graham, place-making, premature optimization, Ralph Waldo Emerson, rent control, side project, statistical model, stealth mode startup, Steve Jobs, Steve Wozniak, subscription business, telemarketer, the scientific method, time value of money, Toyota Production System, tulip mania, Upton Sinclair, Vilfredo Pareto, Walter Mischel, Y Combinator, Yogi Berra

Sometimes that response is well defined—as we discussed earlier, your body knows exactly what it needs to do to regulate blood glucose. Often, however, you don’t know exactly what is wrong—or how to fix it. Think of a perception as abstract as “job satisfaction”—there’s a set point in your mind that stands for “how happy I should be at work,” and your perception of job satisfaction is an average of your actual experiences at work. Pleasant experiences move the average higher, and unpleasant experiences move the average lower. If your perception of “job satisfaction” is lower than you think it should be (your Reference Level), your brain will kick into action—“I’m not as happy as I should be . . . Something needs to change.” Here’s the problem: you may not know what that “something”is. Would you be happier if you changed assignments, worked for a new boss, left the company, or started working for yourself?

Skinner, who believed that if you discovered and applied just the right stimulus, people would behave however you wanted. This mentality led to the widespread use of financial incentives to influence behavior: salary, bonuses, stock options, and so on, in an effort to encourage business professionals and managers to act in the best interest of corporate shareholders. There’s an enormous (and growing) body of evidence that direct incentives often undermine performance, motivation, and job satisfaction in the real world.13 Despite more useful competing theories of human action, 14 the search for the magic stimulus continues in business school classrooms to this day. In Search of Distribution Any technique, however worthy and desirable, becomes a disease when the mind is obsessed with it. —BRUCE LEE, WORLD-RENOWNED MARTIAL ARTIST Marketing, on the other hand, was originally a way to get additional store distribution for physical products and keep expensive factory production lines busy.


pages: 336 words: 88,320

Being Geek: The Software Developer's Career Handbook by Michael Lopp

finite state, game design, job satisfaction, John Gruber, knowledge worker, remote working, rolodex, Silicon Valley, Silicon Valley startup, Skype, sorting algorithm, web application

You're motivated by a single thought: I. Am. Out of here. There's a litany of good reasons to be angry with your boss, your company, or your team, but you don't want to start a job change being pissed off. Nothing taints common sense more than being pissed off. Early Warning Signs of Doom Choosing to subject yourself to a recruiting cold call is just one sign that cracks are forming in your job satisfaction. There are others... Engagement How engaged are you in your work? I know you love working on that new feature in the product—you'll always love doing new things—but how about the busy work? How engaged are you in the work that is necessary but tedious? Remember when you joined the company and everyone was bright and you had no clue the boring work was, well, boring? Now that it's boring, are you able to crank through it, or are you finding excuses to not do it?

I'm not doing it, because I've got a new gig in mind, though I'm months away from that realization. It's an early sign that the core satisfaction in my job has begun to erode when I'm unable to charge through the work I hate. Wanderlust How much are you thinking about your job when you're not working? When you go to sleep? My question is: how much are you thinking about your job when you don't have to? There's a larger job satisfaction analysis going on inside of wanderlust. In hi-tech, 9 to 5 jobs are dead. I'm a fervent supporter of maintaining a work-life balance that allows you to explore as much of the planet Earth as possible, but I'm also the guy who thinks if you're going to do this job, you should be absolutely fucking crazy about it. This doesn't mean that you're obsessively working 24 hours a day on the product, but it does mean that the work you are doing is part of you.

Outside of my career as an engineer, I've been a store clerk, a butcher, a video rental clerk, a lawyer's assistant, and a bookseller, and although it's been over 15 years since I've done any of these jobs, I remember the sense of naive pointlessness: "What do I build? Well, I sell stuff, cut stuff, or type stuff. I don't really build anything, I...do stuff." This made the first engineering gig a revelation. "You. We are building a database application and you own this specific part. It is entirely yours. Don't fuck it up." Delicious, delicious structure. Sweet, sweet definition. These basic and essential elements of job satisfaction are at the root of why many engineers make horrible managers. They are trained as and love to be control freaks. The New Gig Now you have a new job. You have an office and you have a door. On your desk, there's a timer that tracks the number of seconds that it's just you alone in your office. Whenever someone else walks into your office, the timer magically resets to zero. Today's record for consecutive uninterrupted seconds is 47.


pages: 324 words: 93,175

The Upside of Irrationality: The Unexpected Benefits of Defying Logic at Work and at Home by Dan Ariely

Alvin Roth, assortative mating, Burning Man, business process, cognitive dissonance, corporate governance, Daniel Kahneman / Amos Tversky, end world poverty, endowment effect, Exxon Valdez, first-price auction, Frederick Winslow Taylor, George Akerlof, happiness index / gross national happiness, hedonic treadmill, IKEA effect, Jean Tirole, job satisfaction, knowledge economy, knowledge worker, loss aversion, Peter Singer: altruism, placebo effect, Richard Thaler, Saturday Night Live, second-price auction, software as a service, The Wealth of Nations by Adam Smith, ultimatum game, Upton Sinclair, young professional

A few months later we aren’t as annoyed by the color of the cabinets, but at the same time, we don’t derive as much pleasure from the handsome floors. This type of emotional leveling out—when initial positive and negative perceptions fade—is a process we call hedonic adaptation. Just as our eyes adjust to changes in light and environment, we can adapt to changes in expectation and experience. For example, Andrew Clark showed that job satisfaction among British workers was strongly correlated with changes in workers’ pay rather than the level of pay itself. In other words, people generally grow accustomed to their current pay level, however low or high. A raise is great and a pay cut is very upsetting, regardless of the actual amount of the base salary. In one of the earliest studies on hedonic adaptation, Philip Brickman, Dan Coates, and Ronnie Janoff-Bulman compared the overall life happiness among three groups: paraplegics, lottery winners, and normal people who were neither disabled nor particularly lucky.

A Accessory Transit Company, 154 acknowledging workers, 74–76, 80 acronyms, 120 adaptation, 157–90 assortative mating and, 191–212; see also assortative mating focusing attention on changes and, 159–60 hedonic, 160–84; see also hedonic adaptation nineteenth-century experiments on, 157–58 to pain, 160–67 physical, 157–60, 161n sensory perception and, 158–60 Aesop, 198–99 agriculture, obesity and technological developments in, 8 AIDS, 250, 251 airlines, customer service problems of, 142–43 alienation of labor, 79–80 American Cancer Society (ACS), 241–42, 249–50, 254 Andrade, Eduardo, 262, 265, 267–68, 299 anger, acting on, 257 author��s anecdote of, 258–61 driving and, 261 ultimatum game and, 268, 269–70, 273, 274, 276 animals: empathy for suffering of, 249 generalizing about human behavior from studies on, 63 working for food preferred by, 59–63 annoying experiences: breaking up, 177–79, 180 decisions far into future affected by, 262–64 annuities, 234 anterior insula, 266–67 anticipatory anxiety, 45 Anzio, Italy, battle of (1944), 167 apathy toward large tragedies, 238–39 drop-in-the-bucket effect and, 244–45, 252, 254–55 statistical condition and, 238–41, 242, 246, 247–49, 252–53 apologies, 149–51 for medical errors, 152 Apple, 120n battery replacement issue and, 141–42 art, homemade, 89–90 Asian tsunami, 250, 251 assembly line, 78–79 assortative mating, 191–212 altering aesthetic perception and (sour grapes theory), 198–99, 200, 201, 203 author’s injuries and, 191–96, 210–11 dinner party game and, 198 failure to adapt and, 200–201, 203–5 gender differences and, 209, 211 HOT or NOT study and, 201–5, 208, 211 reconsidering rank of attributes and, 199–200, 201, 205–10 speed-dating experiment and, 205–10 Atchison, Shane, 140–41, 146 attachment: to one’s own ideas, see Not-Invented-Here (NIH) bias to self-made goods, see IKEA effect attractiveness, assortative mating and, 191–212 see also assortative mating auctions, first-price vs. second-price, 98–99 Audi customer service, author’s experience with, 131–36, 137, 149, 153–54 experimental situation analogous to, 135–39 fictional case study for Harvard Business Review based on, 147–49 B bailout, public outrage felt in response to, 128–31 baking mixes, instant, 85–87 bankers: author’s presentation of research findings to, 107–9, 121 bonus experiments and, 38–41, 51 Frank’s address to, 41 public outrage in response to bailout and, 128–31 bankruptcy, 129, 130 Barkan, Racheli, 39, 109–10, 299 basketball, clutch players in, 39–41 beauty: assortative mating and, 196–212; see also assortative mating general agreement on standard of, 203 Becker-DeGroot-Marschak procedure, 91 Beecher, Henry, 167 behavioral economics: goal of, 9–10 human rationality not assumed in, 6–7 revenge as metaphor for, 124n Betty Crocker, 87 Bible, Gideon’s conversation with God in, 288–89 blindness, adaptation to, 172–74 blogging, 65 Blunder (Shore), 117 boiling-frog experiment, 157–58 bonuses, 17–52 bank executives’ responses to research on, 37–39 clutch abilities and, 39–41 for cognitive vs. mechanical tasks, 33–36, 40–41 creativity improvements and, 47–48 experiments testing effectiveness of, 21–36, 44–46 Frank’s remarks on, 41 intuitions about, 36–37 inverse-U relationship between performance and, 20–21, 47 loss aversion and, 32–33 optimizing efficacy of, 51–52 public rage over, 21 rational economists’ view of, 36–37 social pressure and, 44–46 surgery situation and, 48–49 viewed as standard part of compensation, 33 in wake of financial meltdown of 2008, 131 brain: judgments about experiences and, 228–29 punishment and, 126 breaks, in pleasant vs. painful experiences, 177–81 Brickman, Philip, 170 business, experimental approach to, 292–93 C cake mixes, instant, 85–87 California, moving to, 176 Call, Josep, 127 cancer, American Cancer Society fundraising and, 241–42, 249–50, 254 canoeing, romantic relationships and, 278–79 cars, 215–16 designing one’s own, 88, 89 division of labor in manufacture of, 78–79 in early days of automotive industry, 94 hedonic treadmill and, 175 see also driving cell phones, 7 in experiments on customer revenge, 135–39, 145–46, 150–51 see also texting CEOs, very high salaries and bonuses paid to, 21 Chance, Zoë, 220, 300 changes: ability to focus attention on, 159–60 decisions about life’s path and, 287 in future, foreseeing adaptation to, 160, 171–74 status quo bias and, 285, 286 in workers’ pay, job satisfaction and, 169–70 charities: American Cancer Society (ACS), 241–42, 249–50, 254 calculating vs. emotional priming and, 246–48 emotional appeals and, 240–42, 248–50, 253–54, 256 identifiable victim effect and, 239–42, 248, 256 charities (cont.) mismatching of money and need and, 250–51 motivating people to take action and, 252–56 Chat Circles, 225 cheating, 76 childbirth, pain of, 168, 169n children: in growing and preparing of food, 121 parents’ overvaluation of, 97–98 chimpanzees, sense of fairness in, 127 chores, taking breaks in, 177–79, 180 civil liberties, erosion of, 158 Clark, Andrew, 169 climate change, 251–52 closeness, empathy and, 243, 245, 254 clutch abilities, 39–41 CNN, 238 Coates, Dan, 170 cockroaches, social pressure in, 45–46 commercial breaks, enjoyment of television and, 181n comparisons, hedonic adaptation and, 189 compensation, 47 changes in, job satisfaction and, 169–70 see also bonuses completion: employees’ sense of, 77, 79–80 Loewenstein’s analysis of mountaineering and, 80–81 computers, 233 consumer purchases, 185–88 happiness derived from transient experiences vs., 187–88 hedonic treadmill and, 175 placing limits on, 186–87 reducing, 185–86 spacing of, 185, 186 contrafreeloading, 60–63 Jensen’s study of, 60–62, 63 standard economic view at odds with, 62–63 Converse, 95 cooking: children’s involvement in, 121 enjoyment factor and, 62n, 105–6 semi-preprepared food and, 85–88 CO2 emissions, 251–52 counting strategies, 282–83 Count of Monte Cristo, The (Dumas), 123 creation, pride of: ideas and, see Not-Invented-Here (NIH) bias self-made goods and, see IKEA effect creativity, bonuses and improvements in, 47–48 Csíkszentmihályi, Mihály, 49 cultures, organizational: acronyms and, 120 Not-Invented-Here bias and, 119–21 customer revenge, 131–51 against airlines, 142–43 apologies and, 149–51, 152 author’s experience with Audi customer service and, 131–36, 137, 147–49, 153–54 distinction between agents and principals and, 144–47 Farmer and Shane’s “Yours Is a Very Bad Hotel” and, 140–41, 146 fictional case study for Harvard Business Review on, 147–49 increase in, 143 Neistat brothers’ video on Apple’s customer service and, 141–42 passage of time and, 151 phone call interruption experiments on, 135–39, 145–46, 150–51 customization, 94–96 of cars, 88, 89, 94 effort expended in, 89, 95–96 overvaluation despite removing possibility of, 96 of shoes, 95, 96 D Dallaire, Roméo, 255 Darfur, 238, 253 Dart Ball game, 23, 34 Darwin, Charles, 157 dating, 191–235 market failures in, 213–15, 216–17, 220–21, 230–32, 233–35 playing hard to get and, 104 standard practice of, 224–25, 227–28 yentas (matchmakers) and, 213 see also assortative mating; online dating; speed dating decision making: author’s medical care and, 284–88 cooling off before, 257, 279 emotions and, 261–77 gender differences and, 274–76 irreversible decisions and, 285, 286 rationalization of choices in, 287 from rational perspective, 5–6 short-term, long-term decisions affected by, 264–65, 270–74, 276–77 stability of strategies for, 261–65; see also self-herding ultimatum game and, 265–70, 275–76 dentistry, adaptation to pain and, 161–62 design, taking people’s physical limitations into account in, 230–32 destroying work in front of workers, 74–76 Dichter, Ernest, 86 disease: adaptation to pain and, 165, 167 preventative health care and, 251, 256 “survivor” rhetoric and, 241–42 Disney, 154 distraction, performance-based incentives and, 30, 36 division of labor, 77–80 IT infrastructure and, 77, 79–80 Marx’s alienation notion and, 79 Smith’s observations on, 77–78 divorce, foreseeing outcome of, 173 Dodson, John, 18–20, 22, 31, 47 do-it-yourself projects, see IKEA effect Donath, Judith, 225 Dostoyevsky, Fyodor, 157 Doubletree Club, Houston, 140–41, 146 dreams, author’s self-image in, 182–83 DreamWorks SKG, 154 driving: momentary anger during, 261 safety precautions and, 6–7 texting during, 6, 7, 8 see also cars drop-in-the-bucket effect, 244–45, 252, 254–55 Dumas, Alexandre, 123 E Eastwick, Paul, 172–73 Edison, Thomas, 117–19, 122 effort: increase in value related to, 89, 90, 95–96, 105–6; see also IKEA effect joy derived from activity and, 71–72 meaningful work conditions and, 72 ownership of ideas and, 114–16 see also labor egg theory, 86–88 Eisner, Michael, 154 electric chair, 119 electricity, alternating current (AC) vs. direct current (DC), 117–19 emotional cascades, 265–78 gender differences and, 274–76 romantic relationships and, 277–78 ultimatum game and, 265–76 emotional priming: empathy for plight of others and, 246–48 ultimatum game and, 268–70 emotions, 43, 237–79 appeals to, willingness to help others and, 240–42, 248–50, 253–54, 256 decision making and, 261–77; see also decision making in past, humans’ poor memory of, 264 transience of, 257, 261, 270 see also empathy; negative feelings, acting on empathy: animals’ suffering and, 249, 252 apathy toward statistical victims and, 238–41, 242, 246, 247–49, 252–53 Baby Jessica saga and, 237–38 calculating vs. emotional priming and, 246–48 clear moral principles and, 255 closeness and, 243, 245, 254 drop-in-the-bucket effect and, 244–45, 252, 254–55 emotional appeals and, 240���42, 248–50, 253–54, 256 global warming and, 251–52 identifiable victim effect and, 239–42, 248, 256 overcoming barriers to, 252–56 rules to guide our behavior and, 254–55 thought experiment of drowning girl and, 242–43, 245 toward one person vs. many in need, 237–56 vividness and, 24, 243n, 244, 245 endowment effect, 285, 286 Enron, 216 evolution, mismatch between speed of technological development and, 8–9 experiments, 10–11, 288–95 business or public policy and, 292–94, 295 of Gideon, 288–89 medical practice and, 289–92 rational economists’ criticisms of, 49–51 see also specific topics Exxon Valdez oil spill, 249 F fairness, sense of: in chimpanzees, 127 decision making and, 266–67; see also ultimatum game gender differences and, 275–76 Fallows, James, 158 Farmer, Tom, 140–41, 146, 148–49 FedEx, 108–9 feedback, about work, 74–76 Feeks, John, 118–19 Fehr, Ernst, 125–26 financial incentives: meaning of labor and, 72–73, 76 see also bonuses financial markets, safety measures for, 7 financial meltdown of 2008, 7, 21, 216 chronology of events in, 129–30 desire for revenge in wake of, 128–31 lack of experimental approach to, 293 outraged public reaction to bailout in, 128–29, 130 Finkel, Eli, 172–73 First Knight, 50 fixation, pride in creation and ownership and, 89, 122 food: animals’ preference for working for, 59–63 semi-preprepared, 85–88 shortages of, identifiable victim effect and, 239–41 see also cooking Food and Drug Administration (FDA), 292 Ford, Henry, 78–79, 94 Forgea (white terrier), 249 Fox, Michael J., 254 “Fox and the Grapes, The” (Aesop), 198–99 Frank, Barney, 41 Frankl, Viktor, 45 free food, animals’ preference for working for food vs., 60–62 Frenk, Hanan, 161–65, 300 Friends, ultimatum game and, 269, 270–71, 272 frog experiment, 157–58 Frost, Jeana, 219–20, 229, 300 Fryer, Bronwyn, 148 furniture, do-it-yourself, 83–84, 96, 105, 106 future, foreseeing adaptation to changes in, 160, 171–74 G gardening: children growing food and, 121 enjoyment factor and, 105–6 gender differences: assortative mating and, 209, 211 decision making and, 274–76 pain threshold and tolerance and, 168–69 Gideon, 288–89 global warming, 158, 251–52 Gneezy, Ayelet, 135, 144–45, 150, 300–301 Gneezy, Uri, 21, 44, 301 Gore, Al, 158, 252 government policies, experimental approach to, 292–94, 295 H happiness: comparisons to other people and, 189 consumer purchases and, 175, 185–88 inaccurate predictions about, 170–71 return to baseline of, 170 transient vs. constant experiences and, 187–88 Harvard Business Review (HBR), 147–49 health care, see medical care hedonic adaptation, 160–84 to annoying experiences, 177–79, 180 author’s personal history and, 181–84, 189 blindness and, 172–74 breaking up experiences and, 177–81 changes in workers’ pay and, 169–70 comparisons to other people and, 189 consumer purchases and, 175, 185–88 extending pleasurable experiences and, 176–78, 179–81, 185, 186 in future, foreseeing of, 160, 171–74 happiness baseline and, 170 life-altering injuries and, 171–72, 174 moving to California and, 176 new houses and, 168–69 pain and, 160–67 romantic breakups and, 172–73 to transient vs. constant experiences, 187–88 using our understanding of, 176–81, 184–90 hedonic disruptions, 177–81 hedonic treadmill, 175 Heingartner, Alexander, 45–46 Henry, O., 98 herding, 262 see also self-herding Herman, Edward, 45–46 Hippocrates, 82 Hogerty, Megan, 81 homeostatic mechanisms, 81 Hong, James, 201, 203 HOT or NOT study, 201–5, 208 gender differences in, 209, 211 Meet Me feature and, 204–5, 208, 209 humor, sense of, 199, 200, 207, 208, 228 Hurricane Katrina, 250, 251 I ideas: attachment to, see Not-Invented-Here (NIH) bias idiosyncratic fit and, 111–12 identifiable victim effect, 239–42, 248, 256 American Cancer Society and, 241–42 identity, connection between work and, 53–55, 79 idiosyncratic fit, ideas and, 111–12 ignoring workers, 74–76 IKEA, 83–84, 106 IKEA effect, 83–106 author’s creations in rehabilitation center and, 100–101 completion of project and, 101–4, 105 do-it-yourself furniture and, 83–84, 96, 106 effort expended and, 89, 90, 95–96, 105–6 four principles in, 104–5 and lack of awareness of overvaluation, 99 Legos experiment and, 96, 97 Local Motors cars and, 88, 89 Not-Invented-Here (NIH) bias and, 109–10, 121 origami experiments and, 91–94, 97, 98–99, 102–4 parents’ overvaluation of their children and, 97–98 practical implications of, 121–22 relaxation notion and, 105–6 removal of individual customization and, 96 semi-preprepared food and, 85–88 shoe design and, 95, 96 immediate gratification, 5 Inconvenient Truth, An, 252 initiation into social groups, 89 injuries: association of pain with getting better after, 166–67 author’s dating prospects and, 191–96, 210–11 author’s decisions about his medical care and, 284–88 author’s personal history related to, 1–4, 13, 107, 160–62, 166–67, 181–84, 189, 191–96, 210–11, 281–88 battlefield vs. civilian, 167 foreseeing future after, 160 life-altering, adaptation to, 160, 171–72, 174 pain thresholds and tolerance related to severity of, 161–65 Institute for Evolutionary Anthropology, Leipzig, Germany, 126–27 insurance products, 233–34 interruptions: in pleasant vs. painful experiences, 177–81 TV commercials and, 181n see also phone call interruption experiments intuitions: bonuses and, 36–37 received medical wisdom and, 289–92 romantic, 172–73 testing of, 10n, 288–95 inverse-U relationship, defined, 19 iPods and iPhones, battery replacement in, 141–42 irrationality: summary of findings on, 288 upside as well as downside of, 11–12, 294 irreversible decisions, 285, 286 IT infrastructure, division and meaning of labor and, 77, 79–80 J Janoff-Bulman, Ronnie, 170 Jensen, Glen, 60–62, 63 Jensen, Keith, 127 Jewish tradition, 254–55 Johns Hopkins Bloomberg School of Public Health, Baltimore, 152 Joyless Economy, The (Scitovsky), 188 justice, see fairness, sense of K Kahneman, Danny, 32n, 175–76 Kamenica, Emir, 66, 301 Katzenberg, Jeffrey, 154 Kemmler, William, 119 kinship, empathy and, 243 Krishnamurti, Tamar, 172–73 Krzyzewski, Mike, 39 L labor: connection between identity and, 53–55, 79 contrafreeloading and, 60–63 economic model of, 55, 62–63, 105 financial incentives and, see bonuses meaning of, see meaning of labor overvaluation resulting from, see IKEA effect on projects without meaning, 56–57, 63–72 Labyrinth game, 23 Lee, Leonard, 132, 134, 197, 201–2, 301–2 Lee, Sandra, 87–88 leeches, medicinal use of, 290–91 Legos experiments: on IKEA effect, 96, 97 on reducing meaningfulness of work, 66–74, 77, 80 letter-pairs experiment, 74–76, 80 life-altering events, hedonic adaptation and, 170 Life as a House, ultimatum game and, 268, 269, 270, 272, 276 light, adaptation to changes in, 159 Local Motors, Inc., 88, 89 Loewenstein, George, 21, 44, 80–81, 172–73, 197, 201–2, 239–41, 246–48, 302 long-term objectives, short-term enjoyments vs., 4–5 loss aversion, 32–33, 285, 286 lottery winners, hedonic adaptation of, 170, 171 “Love the One You’re With,” 197, 211–12 M malaria, 250, 251 Man’s Search for Meaning (Frankl), 45 marketing, adaptation and, 158 market mechanisms, 215–16 dating and, 213–15, 216–17, 220–21, 230–32, 233–35 Marx, Karl, 79 massages, extending pleasure of, 179–80 matchmakers (yentas), 213 Mazar, Nina, 21, 30, 44, 302 McClure, Jessica (Baby Jessica), 237–38 meals, see cooking meaning of labor, 53–82 in acknowledged, ignored, and shredded conditions, 74–76 animals’ preference for working for food and, 59–63 blogging and, 65 division of labor and, 77–80 draining work of meaning and, 55–57, 63–77 financial incentives and, 72–73, 76 joy derived from activity and, 71–72 labor-identity connection and, 53–55, 79 Legos experiment and, 66–74, 76, 80 lessons for workplace on, 80–82 letter-pairs experiment and, 74–76, 80 “meaning” vs.

mismatching of money and need and, 250–51 motivating people to take action and, 252–56 Chat Circles, 225 cheating, 76 childbirth, pain of, 168, 169n children: in growing and preparing of food, 121 parents’ overvaluation of, 97–98 chimpanzees, sense of fairness in, 127 chores, taking breaks in, 177–79, 180 civil liberties, erosion of, 158 Clark, Andrew, 169 climate change, 251–52 closeness, empathy and, 243, 245, 254 clutch abilities, 39–41 CNN, 238 Coates, Dan, 170 cockroaches, social pressure in, 45–46 commercial breaks, enjoyment of television and, 181n comparisons, hedonic adaptation and, 189 compensation, 47 changes in, job satisfaction and, 169–70 see also bonuses completion: employees’ sense of, 77, 79–80 Loewenstein’s analysis of mountaineering and, 80–81 computers, 233 consumer purchases, 185–88 happiness derived from transient experiences vs., 187–88 hedonic treadmill and, 175 placing limits on, 186–87 reducing, 185–86 spacing of, 185, 186 contrafreeloading, 60–63 Jensen’s study of, 60–62, 63 standard economic view at odds with, 62–63 Converse, 95 cooking: children’s involvement in, 121 enjoyment factor and, 62n, 105–6 semi-preprepared food and, 85–88 CO2 emissions, 251–52 counting strategies, 282–83 Count of Monte Cristo, The (Dumas), 123 creation, pride of: ideas and, see Not-Invented-Here (NIH) bias self-made goods and, see IKEA effect creativity, bonuses and improvements in, 47–48 Csíkszentmihályi, Mihály, 49 cultures, organizational: acronyms and, 120 Not-Invented-Here bias and, 119–21 customer revenge, 131–51 against airlines, 142–43 apologies and, 149–51, 152 author’s experience with Audi customer service and, 131–36, 137, 147–49, 153–54 distinction between agents and principals and, 144–47 Farmer and Shane’s “Yours Is a Very Bad Hotel” and, 140–41, 146 fictional case study for Harvard Business Review on, 147–49 increase in, 143 Neistat brothers’ video on Apple’s customer service and, 141–42 passage of time and, 151 phone call interruption experiments on, 135–39, 145–46, 150–51 customization, 94–96 of cars, 88, 89, 94 effort expended in, 89, 95–96 overvaluation despite removing possibility of, 96 of shoes, 95, 96 D Dallaire, Roméo, 255 Darfur, 238, 253 Dart Ball game, 23, 34 Darwin, Charles, 157 dating, 191–235 market failures in, 213–15, 216–17, 220–21, 230–32, 233–35 playing hard to get and, 104 standard practice of, 224–25, 227–28 yentas (matchmakers) and, 213 see also assortative mating; online dating; speed dating decision making: author’s medical care and, 284–88 cooling off before, 257, 279 emotions and, 261–77 gender differences and, 274–76 irreversible decisions and, 285, 286 rationalization of choices in, 287 from rational perspective, 5–6 short-term, long-term decisions affected by, 264–65, 270–74, 276–77 stability of strategies for, 261–65; see also self-herding ultimatum game and, 265–70, 275–76 dentistry, adaptation to pain and, 161–62 design, taking people’s physical limitations into account in, 230–32 destroying work in front of workers, 74–76 Dichter, Ernest, 86 disease: adaptation to pain and, 165, 167 preventative health care and, 251, 256 “survivor” rhetoric and, 241–42 Disney, 154 distraction, performance-based incentives and, 30, 36 division of labor, 77–80 IT infrastructure and, 77, 79–80 Marx’s alienation notion and, 79 Smith’s observations on, 77–78 divorce, foreseeing outcome of, 173 Dodson, John, 18–20, 22, 31, 47 do-it-yourself projects, see IKEA effect Donath, Judith, 225 Dostoyevsky, Fyodor, 157 Doubletree Club, Houston, 140–41, 146 dreams, author’s self-image in, 182–83 DreamWorks SKG, 154 driving: momentary anger during, 261 safety precautions and, 6–7 texting during, 6, 7, 8 see also cars drop-in-the-bucket effect, 244–45, 252, 254–55 Dumas, Alexandre, 123 E Eastwick, Paul, 172–73 Edison, Thomas, 117–19, 122 effort: increase in value related to, 89, 90, 95–96, 105–6; see also IKEA effect joy derived from activity and, 71–72 meaningful work conditions and, 72 ownership of ideas and, 114–16 see also labor egg theory, 86–88 Eisner, Michael, 154 electric chair, 119 electricity, alternating current (AC) vs. direct current (DC), 117–19 emotional cascades, 265–78 gender differences and, 274–76 romantic relationships and, 277–78 ultimatum game and, 265–76 emotional priming: empathy for plight of others and, 246–48 ultimatum game and, 268–70 emotions, 43, 237–79 appeals to, willingness to help others and, 240–42, 248–50, 253–54, 256 decision making and, 261–77; see also decision making in past, humans’ poor memory of, 264 transience of, 257, 261, 270 see also empathy; negative feelings, acting on empathy: animals’ suffering and, 249, 252 apathy toward statistical victims and, 238–41, 242, 246, 247–49, 252–53 Baby Jessica saga and, 237–38 calculating vs. emotional priming and, 246–48 clear moral principles and, 255 closeness and, 243, 245, 254 drop-in-the-bucket effect and, 244–45, 252, 254–55 emotional appeals and, 240���42, 248–50, 253–54, 256 global warming and, 251–52 identifiable victim effect and, 239–42, 248, 256 overcoming barriers to, 252–56 rules to guide our behavior and, 254–55 thought experiment of drowning girl and, 242–43, 245 toward one person vs. many in need, 237–56 vividness and, 24, 243n, 244, 245 endowment effect, 285, 286 Enron, 216 evolution, mismatch between speed of technological development and, 8–9 experiments, 10–11, 288–95 business or public policy and, 292–94, 295 of Gideon, 288–89 medical practice and, 289–92 rational economists’ criticisms of, 49–51 see also specific topics Exxon Valdez oil spill, 249 F fairness, sense of: in chimpanzees, 127 decision making and, 266–67; see also ultimatum game gender differences and, 275–76 Fallows, James, 158 Farmer, Tom, 140–41, 146, 148–49 FedEx, 108–9 feedback, about work, 74–76 Feeks, John, 118–19 Fehr, Ernst, 125–26 financial incentives: meaning of labor and, 72–73, 76 see also bonuses financial markets, safety measures for, 7 financial meltdown of 2008, 7, 21, 216 chronology of events in, 129–30 desire for revenge in wake of, 128–31 lack of experimental approach to, 293 outraged public reaction to bailout in, 128–29, 130 Finkel, Eli, 172–73 First Knight, 50 fixation, pride in creation and ownership and, 89, 122 food: animals’ preference for working for, 59–63 semi-preprepared, 85–88 shortages of, identifiable victim effect and, 239–41 see also cooking Food and Drug Administration (FDA), 292 Ford, Henry, 78–79, 94 Forgea (white terrier), 249 Fox, Michael J., 254 “Fox and the Grapes, The” (Aesop), 198–99 Frank, Barney, 41 Frankl, Viktor, 45 free food, animals’ preference for working for food vs., 60–62 Frenk, Hanan, 161–65, 300 Friends, ultimatum game and, 269, 270–71, 272 frog experiment, 157–58 Frost, Jeana, 219–20, 229, 300 Fryer, Bronwyn, 148 furniture, do-it-yourself, 83–84, 96, 105, 106 future, foreseeing adaptation to changes in, 160, 171–74 G gardening: children growing food and, 121 enjoyment factor and, 105–6 gender differences: assortative mating and, 209, 211 decision making and, 274–76 pain threshold and tolerance and, 168–69 Gideon, 288–89 global warming, 158, 251–52 Gneezy, Ayelet, 135, 144–45, 150, 300–301 Gneezy, Uri, 21, 44, 301 Gore, Al, 158, 252 government policies, experimental approach to, 292–94, 295 H happiness: comparisons to other people and, 189 consumer purchases and, 175, 185–88 inaccurate predictions about, 170–71 return to baseline of, 170 transient vs. constant experiences and, 187–88 Harvard Business Review (HBR), 147–49 health care, see medical care hedonic adaptation, 160–84 to annoying experiences, 177–79, 180 author’s personal history and, 181–84, 189 blindness and, 172–74 breaking up experiences and, 177–81 changes in workers’ pay and, 169–70 comparisons to other people and, 189 consumer purchases and, 175, 185–88 extending pleasurable experiences and, 176–78, 179–81, 185, 186 in future, foreseeing of, 160, 171–74 happiness baseline and, 170 life-altering injuries and, 171–72, 174 moving to California and, 176 new houses and, 168–69 pain and, 160–67 romantic breakups and, 172–73 to transient vs. constant experiences, 187–88 using our understanding of, 176–81, 184–90 hedonic disruptions, 177–81 hedonic treadmill, 175 Heingartner, Alexander, 45–46 Henry, O., 98 herding, 262 see also self-herding Herman, Edward, 45–46 Hippocrates, 82 Hogerty, Megan, 81 homeostatic mechanisms, 81 Hong, James, 201, 203 HOT or NOT study, 201–5, 208 gender differences in, 209, 211 Meet Me feature and, 204–5, 208, 209 humor, sense of, 199, 200, 207, 208, 228 Hurricane Katrina, 250, 251 I ideas: attachment to, see Not-Invented-Here (NIH) bias idiosyncratic fit and, 111–12 identifiable victim effect, 239–42, 248, 256 American Cancer Society and, 241–42 identity, connection between work and, 53–55, 79 idiosyncratic fit, ideas and, 111–12 ignoring workers, 74–76 IKEA, 83–84, 106 IKEA effect, 83–106 author’s creations in rehabilitation center and, 100–101 completion of project and, 101–4, 105 do-it-yourself furniture and, 83–84, 96, 106 effort expended and, 89, 90, 95–96, 105–6 four principles in, 104–5 and lack of awareness of overvaluation, 99 Legos experiment and, 96, 97 Local Motors cars and, 88, 89 Not-Invented-Here (NIH) bias and, 109–10, 121 origami experiments and, 91–94, 97, 98–99, 102–4 parents’ overvaluation of their children and, 97–98 practical implications of, 121–22 relaxation notion and, 105–6 removal of individual customization and, 96 semi-preprepared food and, 85–88 shoe design and, 95, 96 immediate gratification, 5 Inconvenient Truth, An, 252 initiation into social groups, 89 injuries: association of pain with getting better after, 166–67 author’s dating prospects and, 191–96, 210–11 author’s decisions about his medical care and, 284–88 author’s personal history related to, 1–4, 13, 107, 160–62, 166–67, 181–84, 189, 191–96, 210–11, 281–88 battlefield vs. civilian, 167 foreseeing future after, 160 life-altering, adaptation to, 160, 171–72, 174 pain thresholds and tolerance related to severity of, 161–65 Institute for Evolutionary Anthropology, Leipzig, Germany, 126–27 insurance products, 233–34 interruptions: in pleasant vs. painful experiences, 177–81 TV commercials and, 181n see also phone call interruption experiments intuitions: bonuses and, 36–37 received medical wisdom and, 289–92 romantic, 172–73 testing of, 10n, 288–95 inverse-U relationship, defined, 19 iPods and iPhones, battery replacement in, 141–42 irrationality: summary of findings on, 288 upside as well as downside of, 11–12, 294 irreversible decisions, 285, 286 IT infrastructure, division and meaning of labor and, 77, 79–80 J Janoff-Bulman, Ronnie, 170 Jensen, Glen, 60–62, 63 Jensen, Keith, 127 Jewish tradition, 254–55 Johns Hopkins Bloomberg School of Public Health, Baltimore, 152 Joyless Economy, The (Scitovsky), 188 justice, see fairness, sense of K Kahneman, Danny, 32n, 175–76 Kamenica, Emir, 66, 301 Katzenberg, Jeffrey, 154 Kemmler, William, 119 kinship, empathy and, 243 Krishnamurti, Tamar, 172–73 Krzyzewski, Mike, 39 L labor: connection between identity and, 53–55, 79 contrafreeloading and, 60–63 economic model of, 55, 62–63, 105 financial incentives and, see bonuses meaning of, see meaning of labor overvaluation resulting from, see IKEA effect on projects without meaning, 56–57, 63–72 Labyrinth game, 23 Lee, Leonard, 132, 134, 197, 201–2, 301–2 Lee, Sandra, 87–88 leeches, medicinal use of, 290–91 Legos experiments: on IKEA effect, 96, 97 on reducing meaningfulness of work, 66–74, 77, 80 letter-pairs experiment, 74–76, 80 life-altering events, hedonic adaptation and, 170 Life as a House, ultimatum game and, 268, 269, 270, 272, 276 light, adaptation to changes in, 159 Local Motors, Inc., 88, 89 Loewenstein, George, 21, 44, 80–81, 172–73, 197, 201–2, 239–41, 246–48, 302 long-term objectives, short-term enjoyments vs., 4–5 loss aversion, 32–33, 285, 286 lottery winners, hedonic adaptation of, 170, 171 “Love the One You’re With,” 197, 211–12 M malaria, 250, 251 Man’s Search for Meaning (Frankl), 45 marketing, adaptation and, 158 market mechanisms, 215–16 dating and, 213–15, 216–17, 220–21, 230–32, 233–35 Marx, Karl, 79 massages, extending pleasure of, 179–80 matchmakers (yentas), 213 Mazar, Nina, 21, 30, 44, 302 McClure, Jessica (Baby Jessica), 237–38 meals, see cooking meaning of labor, 53–82 in acknowledged, ignored, and shredded conditions, 74–76 animals’ preference for working for food and, 59–63 blogging and, 65 division of labor and, 77–80 draining work of meaning and, 55–57, 63–77 financial incentives and, 72–73, 76 joy derived from activity and, 71–72 labor-identity connection and, 53–55, 79 Legos experiment and, 66–74, 76, 80 lessons for workplace on, 80–82 letter-pairs experiment and, 74–76, 80 “meaning” vs.


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The Road to Somewhere: The Populist Revolt and the Future of Politics by David Goodhart

Affordable Care Act / Obamacare, agricultural Revolution, assortative mating, Big bang: deregulation of the City of London, borderless world, Boris Johnson, Branko Milanovic, Bretton Woods, British Empire, call centre, capital controls, carbon footprint, central bank independence, centre right, coherent worldview, corporate governance, credit crunch, deglobalization, deindustrialization, Donald Trump, Downton Abbey, Edward Glaeser, en.wikipedia.org, Etonian, European colonialism, eurozone crisis, falling living standards, first-past-the-post, gender pay gap, gig economy, glass ceiling, global supply chain, global village, illegal immigration, income inequality, informal economy, job satisfaction, knowledge economy, labour market flexibility, low skilled workers, market friction, mass immigration, mittelstand, Neil Kinnock, New Urbanism, non-tariff barriers, North Sea oil, obamacare, old-boy network, open borders, Peter Singer: altruism, post-industrial society, post-materialism, postnationalism / post nation state, race to the bottom, Richard Florida, Ronald Reagan, selection bias, shareholder value, Skype, Sloane Ranger, stem cell, Thomas L Friedman, transaction costs, trickle-down economics, ultimatum game, upwardly mobile, wages for housework, white flight, women in the workforce, working poor, working-age population, World Values Survey

The managers in 2015 were still just over 40 per cent but those doing routine jobs had jumped to just under 40 per cent. And only 65 per cent of people think their job is secure. Notwithstanding all these depressing statistics about ‘bad jobs’ it is also worth noting that 71 per cent of workers think they have a good job, according to that 2015 British Social Attitudes survey.46 And Andrew Oswald of Warwick University has found no correlation at all between levels of education and job satisfaction.47 Quite a few people in low-skill jobs have high satisfaction and some people with advanced degrees who are paid £200,000 have low satisfaction. The disappearing middle income/middle status jobs must also be kept in perspective. Even allowing for 40 per cent of high-skill jobs and 30 per cent of low-skill jobs that still leaves 30 per cent for middling ones, and although the ‘hollowing out’ of skill levels is well established there seems to have been much less hollowing out of incomes, with no significant reduction in the number of people in the middle income deciles.

See Figure 1 in Katie Schmuecker, ‘Future of the UK Labour Market’, Joseph Rowntree Foundation, February 2014, https://www.jrf.org.uk/report/future-uk-labour-market 4.http://www.centreforcities.org/press/nearly-a-million-new-jobs-created-in-british-cities-since-2010-but-average-salary-drops-by-1300-per-city-resident/ 5.See Theodore Dalrymple’s observation about the erosion of the distinction between service to others and servitude to others: Theodore Dalrymple, ‘Why Britain (and Europe) depends on migrants’, The Spectator, 26 March 2016, http://www.spectator.co.uk/2016/03/why-britain-and-europe-depends-on-migrants/ 6.A YouGov poll found 37 per cent of workers, around 11.5 million people, felt their job is not making a meaningful contribution to society. Tom W. Smith, ‘Job satisfaction in the United States’, University of Chicago, 17 April 2007, www-news.uchicago.edu/releases/07/pdf/070417.jobs.pdf and ‘Work’, British Social Attitudes 33, 2016, http://bsa.natcen.ac.uk/media/39061/bsa33_work.pdf 7.Sammy Rashid and Greg Brooks, ‘The levels of attainment in literacy and numeracy of 13- to 19-year-olds in England, 1948–2009’, University of Sheffield, 2010. 8.Brendan Cole, ‘Young people in England have “lowest literacy levels” in developed world says OECD’, International Business Times, http://www.ibtimes.co.uk/young-people-england-have-lowest-literacy-levels-developed-world-says-oecd-1540711 9.See the work of behavioural geneticists such as Robert Plomin and Rosalind Arden. 10.

‘National Minimum Wage: Low Pay Commission Report Spring 2016’, Gov.uk, March 2016, https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/571631/LPC_spring_report_2016.pdf 43.Cameron Tait, ‘March of the Waiters’, Fabian Society, 29 October 2016, www.fabians.org.uk/march-of-the-waiters/ 44.Adam Corlett and David Finch, ‘Double take: workers with multiple jobs and reforms to National Insurance’, Resolution Foundation, November 2016, www.resolutionfoundation.org/app/uploads/2016/11/Double-take.pdf 45.Jonathan Ashworth et. al., ‘The UK’s self-employment phenomenon: why the labour market isn’t so strong after all’, Morgan Stanley Research, 2014. 46.‘Work’, British Social Attitudes 33, 2016, http://bsa.natcen.ac.uk/media/39061/bsa33_work.pdf 47.Jonathan Gardner and Andrew Oswald, ‘How does education affect mental well-being and job satisfaction?’, Warwick University, June 2002, www2.warwick.ac.uk/fac/soc/economics/staff/ajoswald/reveducationgardneroswaldjune2002.pdf 48.Julie Froud et al, ‘Rebalanching the Economy (Or Buyer’s Remorse’, CRESC Working Paper Series, No. 87, January, 2011, https://www.searchlock.com/search?q=cresc+rebalancing+the+economy 49.Alex Brummer, Britain For Sale: British Companies in Foreign Hands, The Hidden Threat to Our Economy, London: Random House, 2013. 50.Julie Froud et al, ‘Rebalanching the Economy (Or Buyer’s Remorse’, CRESC Working Paper Series, No. 87, January, 2011, https://www.searchlock.com/search?


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The Tyranny of Metrics by Jerry Z. Muller

Affordable Care Act / Obamacare, Atul Gawande, Cass Sunstein, Checklist Manifesto, Chelsea Manning, collapse of Lehman Brothers, corporate governance, Credit Default Swap, crowdsourcing, delayed gratification, deskilling, Edward Snowden, Erik Brynjolfsson, Frederick Winslow Taylor, George Akerlof, Hyman Minsky, intangible asset, Jean Tirole, job satisfaction, joint-stock company, joint-stock limited liability company, Moneyball by Michael Lewis explains big data, performance metric, price mechanism, RAND corporation, school choice, Second Machine Age, selection bias, Steven Levy, total factor productivity, transaction costs, WikiLeaks

There are indeed circumstances when pay for measured performance fulfills that promise: when the work to be done is repetitive, uncreative, and involves the production or sale of standardized commodities or services; when there is little possibility of exercising choice over what one does; when there is little intrinsic satisfaction in it; when performance is based almost exclusively on individual effort, rather than that of a team; and when aiding, encouraging, and mentoring others is not an important part of the job. For sales forces,1 or for routinized, individualized, highly focused jobs involving standardized outputs and without broader responsibilities, rewarding measured performance may well pay off. In short, as one sociologist has put it, “Extrinsic rewards become an important determinant of job satisfaction only among workers for whom intrinsic rewards are relatively unavailable.”2 These are the sort of tasks for which Taylorism (see chapter 3) was designed. There are many such jobs in any society, including a modern, technologically advanced one. But in our time, as the technologies of robotics and artificial intelligence advance, such jobs are becoming fewer and far between.3 But the salient fact is that most private-sector jobs do not match these criteria.

Connable, Embracing the Fog of War, pp. xv, xx. 8. Jan Osborg et al., Assessing Locally Focused Stability Operations (Rand Corporation, 2014), p. 9. 9. Connable, Embracing the Fog of War, p. 29. CHAPTER 12. BUSINESS AND FINANCE 1. http://www.simon.rochester.edu/fac/misra/mkt_salesforce.pdf. 2. Barry Gruenberg, “The Happy Worker: An Analysis of Educational and Occupational Differences in Determinants of Job Satisfaction,” American Journal of Sociology 86 (1980), pp. 247–71, esp. pp. 267–68, quoted in Kohn, Punishment by Rewards, p. 131. 3. Erik Brynjolfsson and Andrew McAfee, The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies (New York, 2014). 4. Dan Cable and Freck Vermeulen, “Why CEO Pay Should Be 100% Fixed,” Harvard Business Review (February 23, 2016). 5. Madison Marriage and Aliya Ram, “Two Top Asset Managers Drop Staff Bonuses,” Financial Times, August 22, 2016. 6.


How Will You Measure Your Life? by Christensen, Clayton M., Dillon, Karen, Allworth, James

air freight, Clayton Christensen, disruptive innovation, hiring and firing, invisible hand, Iridium satellite, job satisfaction, late fees, Mahatma Gandhi, Nick Leeson, Silicon Valley, Skype, Steve Jobs, working poor, young professional

This type of motivation continues, in good times and in bad. Frederick Herzberg, probably one of the most incisive writers on the topic of motivation theory, published a breakthrough article in the Harvard Business Review, focusing on exactly this. He was writing for a business audience, but what he discovered about motivation applies equally to us all. Herzberg notes the common assumption that job satisfaction is one big continuous spectrum—starting with very happy on one end and reaching all the way down to absolutely miserable on the other—is not actually the way the mind works. Instead, satisfaction and dissatisfaction are separate, independent measures. This means, for example, that it’s possible to love your job and hate it at the same time. Let me explain. This theory distinguishes between two different types of factors: hygiene factors and motivation factors.

Compensation is a hygiene factor. You need to get it right. But all you can aspire to is that employees will not be mad at each other and the company because of compensation. This is an important insight from Herzberg’s research: if you instantly improve the hygiene factors of your job, you’re not going to suddenly love it. At best, you just won’t hate it anymore. The opposite of job dissatisfaction isn’t job satisfaction, but rather an absence of job dissatisfaction. They’re not the same thing at all. It is important to address hygiene factors such as a safe and comfortable working environment, relationship with managers and colleagues, enough money to look after your family—if you don’t have these things, you’ll experience dissatisfaction with your work. But these alone won’t do anything to make you love your job—they will just stop you from hating it.


pages: 554 words: 158,687

Profiting Without Producing: How Finance Exploits Us All by Costas Lapavitsas

"Robert Solow", Andrei Shleifer, asset-backed security, bank run, banking crisis, Basel III, borderless world, Branko Milanovic, Bretton Woods, business cycle, capital controls, Carmen Reinhart, central bank independence, collapse of Lehman Brothers, computer age, conceptual framework, corporate governance, credit crunch, Credit Default Swap, David Graeber, David Ricardo: comparative advantage, disintermediation, diversified portfolio, Erik Brynjolfsson, eurozone crisis, everywhere but in the productivity statistics, financial deregulation, financial independence, financial innovation, financial intermediation, financial repression, Flash crash, full employment, global value chain, global village, High speed trading, Hyman Minsky, income inequality, inflation targeting, informal economy, information asymmetry, intangible asset, job satisfaction, joint-stock company, Joseph Schumpeter, Kenneth Rogoff, liberal capitalism, London Interbank Offered Rate, low skilled workers, M-Pesa, market bubble, means of production, money market fund, moral hazard, mortgage debt, Network effects, new economy, oil shock, open economy, pensions crisis, price stability, Productivity paradox, profit maximization, purchasing power parity, quantitative easing, quantitative trading / quantitative finance, race to the bottom, regulatory arbitrage, reserve currency, Robert Shiller, Robert Shiller, savings glut, Scramble for Africa, secular stagnation, shareholder value, Simon Kuznets, special drawing rights, Thales of Miletus, The Chicago School, The Great Moderation, the payments system, The Wealth of Nations by Adam Smith, Tobin tax, too big to fail, total factor productivity, trade liberalization, transaction costs, union organizing, value at risk, Washington Consensus, zero-sum game

See Juliet Schor, The Overworked American: The Unexpected Decline of Leisure, New York: Basic Books, 1992. 9 Francis Green, Demanding Work: The Paradox of Job Quality in the Affluent Economy, Princeton: Princeton University Press, 2006; Francis Green and Nicholas Tsitsianis, ‘Can the Changing Nature of Jobs Account for National Trends in Job Satisfaction?’, Studies in Economics no. 0406, Department of Economics, University of Kent, 2004; and Francis Green and Nicholas Tsitsianis, ‘An Investigation of National Trends in Job Satisfaction’, British Journal of Industrial Relations 43:3, 2005. 10 This statement refers more accurately to Japan and Germany which have had high rates of growth of productivity historically, rather than to the UK which has generally been a laggard. But the gist of the argument is not affected by the inclusion of the UK with the other two. 11 See, for instance, Marx, Capital, vol. 1, pp. 647–8 and 752–3. 12 Consider, for instance, the remarkable Chapter 15 on ‘Machinery and Large Scale Industry’ (ibid., pp. 492–639). 13 For a classic analysis of this point, see Maurice Dobb, Studies in the Development of Capitalism, London: Routledge and Kegan Paul, 1946, pp. 285–300.

Grahl, John, and Paul Teague, ‘The Régulation School, the Employment Relation and Financialization’, Economy and Society 29:1, 2000, pp. 160–78. Green, Francis, Demanding Work: The Paradox of Job Quality in the Affluent Economy, Princeton: Princeton University Press, 2006. Green, Francis, and Nicholas Tsitsianis, ‘Can the Changing Nature of Jobs Account for National Trends in Job Satisfaction?’, Studies in Economics No. 0406, Department of Economics, University of Kent, 2004. Green, Francis, and Nicholas Tsitsianis, ‘An Investigation of National Trends in Job Satisfaction’, British Journal of Industrial Relations 43:3, 2005, pp. 401–29. Greenspan, Alan, ‘Currency Reserves and Debt’, Remarks Before the World Bank Conference on Recent Trends in Reserves Management, Washington, DC, 29 April 1999. Grierson, Philip, The Origin of Money, London: Athlone Press, 1977. Griliches, Zvi, ‘Productivity, R&D, and the Data Constraint’, American Economic Review 84:1, 1994, pp. 1–23.


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The Age of Em: Work, Love and Life When Robots Rule the Earth by Robin Hanson

8-hour work day, artificial general intelligence, augmented reality, Berlin Wall, bitcoin, blockchain, brain emulation, business cycle, business process, Clayton Christensen, cloud computing, correlation does not imply causation, creative destruction, demographic transition, Erik Brynjolfsson, Ethereum, ethereum blockchain, experimental subject, fault tolerance, financial intermediation, Flynn Effect, hindsight bias, information asymmetry, job automation, job satisfaction, John Markoff, Just-in-time delivery, lone genius, Machinery of Freedom by David Friedman, market design, meta analysis, meta-analysis, Nash equilibrium, new economy, prediction markets, rent control, rent-seeking, reversible computing, risk tolerance, Silicon Valley, smart contracts, statistical model, stem cell, Thomas Malthus, trade route, Turing test, Vernor Vinge

For example, today as they get older people tend to be less neurotic, and more agreeable, conscientiousness, and open to experience (Soto et al. 2011), although these trends reverse after the age of 65 (Kandler et al. 2015). Older people have weaker differences between genders in their roles and attitudes (Hofstede et al. 2010), they are more trusting (Robinson and Jackson 2001), they have less regret about missed life opportunities (Brassen et al. 2012), and they have more job satisfaction and less stress and negative emotions (Tay et al. 2014). Older people (and males) are more influential in social networks, and influential people are more clustered in their associations, and less susceptible to social influence by others (Aral and Walker 2012). For older people, happiness tends to increase with age, controlling for health, and older people tend to associate happiness more with peacefulness, as opposed to excitement, in part because they focus more on the present as opposed to the future (Mogilner et al. 2011).

“Give Me a Better Break: Choosing Workday Break Activities to Maximize Resource Recovery.” Journal of Applied Psychology, in press. Iannaccone, Laurence. 1994. “Why Strict Churches Are Strong.” American Journal of Sociology 99(5): 1180–1211. Ichniowski, Casey, and Anne Preston. 2014. “Do Star Performers Produce More Stars? Peer Effects and Learning in Elite Teams.” NBER Working Paper No. 20478, September. Idson, Todd. 1990. “Establishment Size, Job Satisfaction and the Structure of Work.” Applied Economics 22(8): 1007–1018. Inglehart, Ronald, and Christian Welzel. 2010. “Changing Mass Priorities: The Link Between Modernization and Democracy.” Perspectives on Politics 8(2): 554. 2012. “International Labour Organization Global Estimate of Forced Labour 2012: Results and Methodology.” June 1. http://www.ilo.org/washington/areas/elimination-of-forced-labor/WCMS_182004/lang–en/index.htm.

Nakamoto, Satoshi. 2008. “Bitcoin: A Peer-to-Peer Electronic Cash System.” November. https://bitcoin.org/bitcoin.pdf. Navarrete, C. David, Robert Kurzban, Daniel Fessler, and Lee Kirkpatrick 2004. “Anxiety and Intergroup Bias: Terror Management or Coalitional Psychology?” Group Processes & Intergroup Relations 7(4): 370–397. Nguyen, Anh Ngoc, Jim Taylor, and Steve Bradley. 2003. “Job Autonomy and Job Satisfaction: New Evidence.” Doctoral dissertation, University of Lancaster, Lancaster. Niederle, Muriel. 2014. “Gender.” NBER Working Paper No. 20788, December. Nitsch, Volker. 2005. “Zipf Zipped.” Journal of Urban Economics 57(1): 86–100. Nordhaus, William. 2015. “Are We Approaching an Economic Singularity? Information Technology and the Future of Economic Growth.” NBER Working Paper No. 21547, September.


pages: 229 words: 61,482

The Gig Economy: The Complete Guide to Getting Better Work, Taking More Time Off, and Financing the Life You Want by Diane Mulcahy

Affordable Care Act / Obamacare, Airbnb, Amazon Mechanical Turk, basic income, Clayton Christensen, cognitive bias, collective bargaining, creative destruction, David Brooks, deliberate practice, diversification, diversified portfolio, fear of failure, financial independence, future of work, gig economy, helicopter parent, Home mortgage interest deduction, housing crisis, job satisfaction, Kickstarter, loss aversion, low skilled workers, Lyft, mass immigration, mental accounting, minimum wage unemployment, mortgage tax deduction, negative equity, passive income, Paul Graham, remote working, risk tolerance, Robert Shiller, Robert Shiller, Silicon Valley, Snapchat, TaskRabbit, Uber and Lyft, uber lyft, universal basic income, wage slave, Y Combinator, Zipcar

Gould, Elise, Economic Policy Institute, “2014 continues a 35-year trend of broad-base wage stagnation,” February 19, 2015. www.epi.org/publication/stagnant-wages-in-2014/ 3. Adkins, Amy, “Majority of U.S. Employees Not Engaged Despite Gains in 2014,” Gallup, January 28, 2015, www.gallup.com/poll/181289/majority-employees-not-engaged-despite-gains-2014.aspx 4. The Conference Board, “Surge in Hiring Lifts Outlook for Workers But Overall Job Satisfaction Remains Below 50%,” September 8, 2015. www.conference-board.org/press/pressdetail.cfm?pressid=5545 5. Freelancers Union, Freelancing in America: 2015, An independent study commissioned by the Freelancers Union and Upwork. Also, Rasch, Rena, “Your Best Workers May Not Be Your Employees: A Global Study of Independent Workers,” IBM Smarter Work-force Institute, October 2014. public.dhe.ibm.com/common/ssi/ecm/lo/en/lol14027usen/LOL14027USEN.PDF?

Eichler, Alexander, “Government Accounted for Nearly a Third of All Layoffs in 2011: Report,” Huffington Post, January 5, 2012. www.huffingtonpost.com/2012/01/05/government-finance-layoffs_n_1185938.html 11. University of Pennsylvania, Knowledge@Wharton, “Underfunded Pensions: Tackling an ‘Invisible’ Crisis,” January 26,2015. knowledge.wharton.upenn.edu/article/underfunded-pensions-tackling-an-invisible-crisis/ 12. Glassdoor, Q3 2015 US Employment Confidence Survey. press-content.glassdoor.com/app/uploads/sites/2/2015/10/ECS-Q32015-Supplement.pdf 13. “Employee Job Satisfaction and Engagement,” SHRM, Society for Human Resource Management, 2015. www.shrm.org/Research/SurveyFindings/Documents/14-0028%20JobSatEngage_Report_FULL_FNL.pdf 14. www.coursera.org, www.edcast.com, www.edx.com, www.novoed.com, www.udemy.com 15. Clark, Dorie, “Reinventing You: Define Your Brand, Imagine Your Future,” Harvard Business Review Press, Boston, April 9, 2013. 16. Topel, Robert H., and Michael P.


pages: 429 words: 114,726

The Computer Boys Take Over: Computers, Programmers, and the Politics of Technical Expertise by Nathan L. Ensmenger

barriers to entry, business process, Claude Shannon: information theory, computer age, deskilling, Donald Knuth, Firefox, Frederick Winslow Taylor, future of work, Grace Hopper, informal economy, information retrieval, interchangeable parts, Isaac Newton, Jacquard loom, job satisfaction, John von Neumann, knowledge worker, loose coupling, new economy, Norbert Wiener, pattern recognition, performance metric, Philip Mirowski, post-industrial society, Productivity paradox, RAND corporation, Robert Gordon, Shoshana Zuboff, sorting algorithm, Steve Jobs, Steven Levy, the market place, Thomas Kuhn: the structure of scientific revolutions, Thorstein Veblen, Turing machine, Von Neumann architecture, Y2K

The basic SVIB in this period consisted of four hundred questions aimed at eliciting an emotional response (“like,” “dislike,” or “indifferent”) to specific occupations, work and recreational activities, types of people, and personality types. By the 1960s, more than fifty statistically significant collections of preferences (“keys”) had been developed for such occupations as artist, mathematician, police officer, and airplane pilot. Perry and Cannon were attempting to develop a similar interest key for programmer. They hoped to use this key to correlate a unique programmer personality profile with self-reported levels of job satisfaction. In the absence of direct measures of job performance, such as supervisors’ evaluations, it was assumed that satisfaction tracked closely with performance. The larger assumption behind the use of the SVIB profiles was that candidates who had interests in common with those individuals who were successful in a given occupation were themselves also likely to achieve similar success. Many of the traits that Perry and Cannon attributed to successful programmers were unremarkable: for the most part programmers enjoyed their work, disliked routine and regimentation, and were especially interested in problem and puzzle-solving activities.69 The programmer key that they developed bore some resemblance to the existing keys for engineering and chemistry, but not to those of physics or mathematics, which Perry and Cannon saw as contradicting the traditional focus on mathematics training in programmer recruitment.

(Or, How Did Control and Coordination of Labor Get into the Software so Quickly?),” Monthly Review 50, no. 8 (1999). 31. Wanda Orlikowski, “The DP Occupation: Professionalization or Proletarianization?” Research in the Sociology of Work 4 (1988): 95–124. 32. Brian Rothery, Installing and Managing a Computer (London: Business Books, 1968), 152. 33. Kraft, Programmers and Managers, 26. 34. Enid Mumford, Job Satisfaction: A Study of Computer Specialists (London: Longman Group Limited, 1972), 175. 35. Robert Head, “Controlling Programming Costs,” Datamation 13, no. 7 (1967): 141. 36. Andrew Friedman and Dominic Cornford, Computer Systems Development: History, Organization, and Implementation (Chichester, UK: Wiley, 1989); M. Beirne, H. Ramsay, and A. Panteli, “Developments in Computing Work: Control and Contradiction in the Software Labour Process,” in Developments in Computing Work: Control and Contradiction in the Software Labour Process, ed.

Datamation 12 (6) (1966): 99. Mody, P. “Is Programming an Art?” Software Engineering Notes 17 (4) (1992): 19–21. Moore, Gordon. “Cramming More Components onto Integrated Circuits.” Electronics 38 (8) (1965): 114–117. Morgan, H. L., and J. V. Soden. “Understanding MIS Failures.” Database 5 (2) (1973): 157–171. Morrison, David. “Software Crisis.” Defense 21 (2) (1989): 72. Mumford, Enid. Job Satisfaction: A Study of Computer Specialists. London: Longman Group Limited, 1972. Mumford, Enid, and Thomas Ward. Computers: Planning for People. London: B. T. Batsford, 1968. Murray, Fergus, and David Knights. “Inter-managerial Competition and Capital Accumulation: IT Specialists, Accountants, and Executive Control.” Critical Perspectives on Accounting 1 (2) (June 1990): 167–189. Nadesan, Majia Holmer.


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Effective Programming: More Than Writing Code by Jeff Atwood

AltaVista, Amazon Web Services, barriers to entry, cloud computing, endowment effect, Firefox, future of work, game design, Google Chrome, gravity well, job satisfaction, Khan Academy, Kickstarter, loss aversion, Marc Andreessen, Mark Zuckerberg, Merlin Mann, Minecraft, Paul Buchheit, Paul Graham, price anchoring, race to the bottom, recommendation engine, science of happiness, Skype, social software, Steve Jobs, web application, Y Combinator, zero-sum game

Do you have spirited team discussions or knock-down, drag-out, last man standing filibuster team arguments? Are there any people on your team you’d “vote off the island” if you could? It may sound trivial to focus on the people you work with over more tangible things like, say, the actual work, or the particular technology you’re using to do that work. But it isn’t. The people you choose to work with are the most accurate predictor of job satisfaction I’ve ever found. And job satisfaction, based on my work experience to date, correlates perfectly with success. I have never seen a happy, healthy, gelled, socially functional software development team fail. It’s a shame such teams are so rare. As Weinberg said, it’s always a people problem. If you aren’t working with people you like, people you respect, people that challenge and inspire you — then why not? What’s stopping you?


pages: 242 words: 68,019

Why Information Grows: The Evolution of Order, From Atoms to Economies by Cesar Hidalgo

"Robert Solow", Ada Lovelace, Albert Einstein, Arthur Eddington, assortative mating, business cycle, Claude Shannon: information theory, David Ricardo: comparative advantage, Douglas Hofstadter, Everything should be made as simple as possible, frictionless, frictionless market, George Akerlof, Gödel, Escher, Bach, income inequality, income per capita, industrial cluster, information asymmetry, invention of the telegraph, invisible hand, Isaac Newton, James Watt: steam engine, Jane Jacobs, job satisfaction, John von Neumann, Joi Ito, New Economic Geography, Norbert Wiener, p-value, Paul Samuelson, phenotype, price mechanism, Richard Florida, Ronald Coase, Rubik’s Cube, Silicon Valley, Simon Kuznets, Skype, statistical model, Steve Jobs, Steve Wozniak, Steven Pinker, The Market for Lemons, The Nature of the Firm, The Wealth of Nations by Adam Smith, total factor productivity, transaction costs, working-age population

For instance, he found that people who got their jobs through personal contacts had better-paying jobs than those who got them through direct applications or professional recruiting agencies. Also, people who found their jobs through personal contacts were more likely to have a new job cut out for them and they reported higher levels of job satisfaction.4 In short, he found not only that social networks were the main determinant of information about job availability, which is crucial for job seekers, but also that these networks were correlated with important job characteristics such as wages and job satisfaction. The allocation of the best jobs, just like that of the best apartments, tends to piggyback social networks. Granovetter’s findings, which applied to white-collar workers, showed that personal contacts were the main way these workers found jobs. But by comparing his data with other sources, he also found that this was not different from the way in which blue-collar workers found jobs.


Working the Phones: Control and Resistance in Call Centres by Jamie Woodcock

always be closing, anti-work, call centre, cognitive dissonance, collective bargaining, David Graeber, invention of the telephone, job satisfaction, late capitalism, means of production, millennium bug, new economy, Panopticon Jeremy Bentham, post-industrial society, post-work, precariat, profit motive, social intelligence, stakhanovite, women in the workforce

Arlie Russell Hochschild, The Managed Heart: Commercialization of Human Feeling (Berkeley: University of California Press, 2012), p. 7. 17. Taylor and Bain, ‘“An Assembly Line in the Head”’ (1999), p. 103. 18. The Call Centre (2013). 19. Franco Berardi, The Soul at Work: From Alienation to Autonomy (Los Angeles: Semiotext(e), 2009) p. 21. 20. Ibid., p. 84. 21. Ibid., p. 85. 22. Kerry A. Lewig and Maureen F. Dollard, ‘Emotional Dissonance, Emotional Exhaustion and Job Satisfaction in Call Centre Workers’, European Journal of Work and Organizational Psychology, Vol. 12, No. 4 (2003), pp. 366–92. 23. Karl Marx, Economic and Philosophic Manuscripts of 1844 (1844), Marxists.org/archive/marx/works/1844/manuscripts/labour.htm 24. Marx, Capital ([1867] 1976), p. 614. 171 Working the Phones 25. Bertell Ollman, Alienation: Marx’s Conception of Man in a Capitalist Society (Cambridge: Cambridge University Press, 1977), p. 138. 26.

Co-operative, available at: www.marxists.org/archive/lafargue/1883/ lazy Lanzardo, D. (1965) ‘Intervento Socialista nella Lotta Operaia: l’Inchiesta Operaia di Marx’, Quaderni Rossi, Vol. 5. Lebowitz, M. (2009) Following Marx: Method, Critique and Crisis, Boston: Brill. Lefort, C. (1952) ‘Proletarian Experience’, Socialisme ou Barbarie, No. 11. trans. Viewpoint Magazine, available at: http://viewpointmag. com/2013/09/26/proletarian-experience Lewig, K. A. and Dollard, M. F. (2003) ‘Emotional Dissonance, Emotional Exhaustion and Job Satisfaction in Call Centre Workers’, European Journal of Work and Organizational Psychology, Vol. 12, No. 4, pp. 366–92. Lewis, J. S. (1948) Partnership for All: A Thirty Four Year Old Experiment in Industrial Democracy, London: Kerr-Cross Publishing. Linhart, R. (1981) The Assembly Line, Amherst: University of Massachusetts Press. Marshall, N. and Richardson, R. (1996) ‘The Impact of “Telemediated” Services on Corporate Structures: The Example of “Branchless” Retail Banking in Britain’, Environment and Planning A, Vol. 28, No. 10, pp. 1843–58.


pages: 261 words: 16,734

Peopleware: Productive Projects and Teams by Tom Demarco, Timothy Lister

A Pattern Language, cognitive dissonance, interchangeable parts, job satisfaction, knowledge worker, lateral thinking, Parkinson's law, performance metric, skunkworks, supply-chain management, women in the workforce

Hewlett-Packard has long been an example of an organization that reaps the benefits from increased productivity due to high, builder-set quality standards. From its beginning, the company has made a cult of quality. In such an environment, the argument that more time or money is needed to produce a high-quality product is generally not heard. The result is that developers know they are part of a culture that delivers quality beyond what the marketplace requires. Their sense of quality identification works for increased job satisfaction and some of the lowest turnover figures seen anywhere in the industry. Power of Veto In some Japanese companies, notably Hitachi Software and parts of Fujitsu, the project team has an effective power of veto over delivery of what they believe to be a not-yet-ready product. No matter that the client would be willing to accept even a substandard product, the team can insist that delivery wait until its own standards are achieved.

Your competition may be ten times more effective than you are in doing the same work. If you don’t know it, you can’t begin to do something about it. Only the market will understand. It will take steps of its own to rectify the situation, steps that do not bode well for you. Measuring with Your Eyes Closed Work measurement can be a useful tool for method improvement, motivation, and enhanced job satisfaction, but it is almost never used for these purposes. Measurement schemes tend to become threatening and burdensome. In order to make the concept deliver on its potential, management has to be perceptive and secure enough to cut itself out of the loop. That means the data on individuals is not passed up to management, and everybody in the organization knows it. Data collected on the individual’s performance has to be used only to benefit that individual.


pages: 277 words: 79,360

The Happiness Curve: Why Life Gets Better After 50 by Jonathan Rauch

endowment effect, experimental subject, Google bus, happiness index / gross national happiness, hedonic treadmill, income per capita, job satisfaction, longitudinal study, loss aversion, Richard Thaler, science of happiness, Silicon Valley, Skype, Steve Jobs, Steve Wozniak, upwardly mobile, World Values Survey, zero-sum game

A 1994 paper by Oswald and Andrew Clark (published in the Royal Economic Society’s Economic Journal), on whether unemployment causes unhappiness (answer: yes, and powerfully), contained the sentence: “There is a U shape in mental wellbeing with respect to age.” In a 1996 paper (in the Journal of Occupational and Organizational Psychology), Oswald, Clark, and a psychologist named Peter Warr found that job satisfaction is “U-shaped in age.” At that point, the result seemed an intriguing oddity. There was no particularly good theory to explain it and not much by way of confirmation, and so the researchers did not pay much attention to it. “We did what people do, which is just proceed,” Oswald told me. “You’re in the fog of research. That’s how I think about it. You’re just out there.” But the age-happiness relationship persisted, and not just in their own work.

Herodotus Hirsch, Jerry HIV Holmes, Jamie homosexuality Hong Kong iconography, midlife crisis impostor syndrome “In Defense of the Practical Politician” (Winter) income comparing others’ growth relative study on life satisfaction and growth of national incomes, of others Individual Purpose Accounts inequality, visibility of infancy, Cole on ingratitude Institute on Aging internal critics International Journal of Psychoanalysis The Interpretation of Dreams (Freud) interviews and interviewees career change to philanthropy on disappointment on expectations gap on job switch letter from first on moving abroad neighbor Nora (ninety-four-year-old) now what question and resignation feeling sixties and seventies scores on social connection and sharing trust and wisdom implied in intuition “Is Wellbeing U-Shaped over the Life Cycle?” (Blanchflower/Oswald) Isaacowitz, Derek M. Japan Jaques, Elliott Jefferson, Thomas Jeste, Dilip positive psychiatry and wisdom studied by job satisfaction, U curve in age and job switch, during midlife crisis Jobs, Steve Jones, Dan L. Journal of Economic Behavior and Organization Journal of Occupational and Organizational Psychology Journal of Public Economics journalism award Kahneman, Daniel Kenya Kilgallon, Anne Marie King, James Kipling, Rudyard Knetsch, Jack Kojola, Erik Kunzmann, Ute Lacey, Heather P. Latin America life satisfaction and age in life satisfaction studies on Layard, Richard on comparing downward Leider, Richard Leisure World Lennon, John Leo Burnett Worldwide Let’s Make a Deal Levenson, Robert life coaches Life Reimagined, AARP Life Reimagined: Discovering Your New Life Possibilities (Leider/Webber) life satisfaction.


pages: 255 words: 75,172

Sleeping Giant: How the New Working Class Will Transform America by Tamara Draut

affirmative action, Affordable Care Act / Obamacare, always be closing, American ideology, battle of ideas, big-box store, blue-collar work, collective bargaining, creative destruction, David Brooks, declining real wages, deindustrialization, desegregation, Detroit bankruptcy, Donald Trump, Edward Glaeser, ending welfare as we know it, Ferguson, Missouri, financial deregulation, full employment, immigration reform, income inequality, invisible hand, job satisfaction, knowledge economy, knowledge worker, low skilled workers, mass incarceration, minimum wage unemployment, mortgage tax deduction, new economy, obamacare, occupational segregation, payday loans, pink-collar, plutocrats, Plutocrats, Powell Memorandum, profit motive, race to the bottom, Ralph Nader, rent-seeking, rising living standards, Ronald Reagan, shared worldview, The Bell Curve by Richard Herrnstein and Charles Murray, The Wealth of Nations by Adam Smith, trickle-down economics, union organizing, upwardly mobile, War on Poverty, white flight, women in the workforce, young professional

If you are in fact making billions of dollars for this company, then I don’t see what the problem could possibly be that you could take care of your basic needs and be compensated fairly. But that’s not how it is at Walmart.” Arlene, who marched with Martin Luther King Jr. in Chicago at the age of seventeen, today works in a job where she compares the way she’s treated to our nation’s greatest moral stain. Arlene isn’t alone in her dissatisfaction. Various surveys find that jobs in retail and food service rank very low in terms of job satisfaction.12 The Blue-Collar Jobs In the top-ten list of occupations providing the largest number of jobs in our country, two of the ten (laborers/material movers and janitors) could be described as traditional blue-collar work, that is, physical labor done overwhelmingly by men. But unlike four decades ago, these jobs aren’t on the assembly line or factory floor. Today over 2 million people in the new working class are employed as janitors or cleaners, earning an average hourly wage of $10.73.13 Nearly seven out of ten of these jobs are held by men.

Janelle Jones and John Schmitt, “Slow Progress for Fast-Food Workers,” Center for Economic and Policy Research, August 6, 2013, at http://www.​cepr.​net/​index.​php/​blogs/​cepr-​blog/​slow-​progress-​for-​fast-​food-​workers. 10. Ibid. 11. “The Demographics of the Retail Work Force,” Demos, November, 18, 2012, at http://www.​demos.​org/​sites/​default/​files/​data_​bytes/​demographics.​png. 12. Tom W. Smith, “Job Satisfaction in America,” NORC/University of Chicago, April 17, 2007 at http://www-news.​uchicago.​edu/​releases/​07/​pdf/​070417.​jobs.​pdf; CareerBliss survey available online at http://www.​careerbliss.​com/​facts-​and-​figures/​careerbliss-​happiest-​and-​unhappiest-​jobs-​in-​america-​2015/. 13. U.S. Department of Labor, Bureau of Labor Statistics, “Data Tables for Overview of May 2012 Occupational Employment and Wages,” March 29, 2013, at http://www.​bls.​gov/​oes/​2012/​may/​featured_​data.​htm#largest. 14.


pages: 497 words: 130,817

Pedigree: How Elite Students Get Elite Jobs by Lauren A. Rivera

affirmative action, availability heuristic, barriers to entry, Donald Trump, fundamental attribution error, glass ceiling, income inequality, job satisfaction, knowledge economy, meta analysis, meta-analysis, new economy, performance metric, profit maximization, profit motive, school choice, Silicon Valley, Silicon Valley startup, The Wisdom of Crowds, unpaid internship, women in the workforce, young professional

For some, money was a benchmark of personal success and a career priority in its own right. “Part of being successful,” asserted Parker, a crisply dressed Eastmore student who was interviewing simultaneously for banking and consulting, “is being well compensated.” Indeed, research shows that elite college graduates tend to place greater stress on material rewards in jobs than do students from other types of schools and rate high salaries as being more important to their overall job satisfaction.7 For other students, a focus on money was driven by necessity. Undergraduate college tuition has exploded.8 As of 2014, at many elite colleges it approached $60,000 annually, including room, board, and fees.9 Although the most elite core campuses offer substantial financial aid to many students, not all who need it qualify.10 Many still emerge with significant debt. At top MBA and JD programs, the bill is higher.

Recruiting from elite schools may also help firms cultivate new business in the future by developing relationships with students that they believe will achieve positions of power and influence in other arenas later in life. High levels of attrition, although costly in the short run, could benefit firms in the long term by increasing the range of their future client base. Having large numbers of former employees in a wide variety of organizations and industries might assist firms in acquiring new business. Furthermore, selecting new hires based on cultural similarity could enhance cohesion and job satisfaction among employees. Creating a group of close-knit coworkers who have the potential to become instant friends and playmates could foster motivation and organizational commitment among junior employees; this might compensate for the grueling hours and mundane tasks required of these workers. As my study participants also made clear, having a strong social network of like-minded others is a critical marketing tool that firms use to attract new applicants year after year despite the difficult lifestyle associated with these jobs.

Ocasio, William. 1997. “Towards an Attention-Based View of the Firm.” Strategic Management Journal 18:187–206. Ostrander, Susan. 1993. “Surely You’re Not in This Just to Be Helpful: Access, Rapport, and Interviews in Three Studies of Elites.” Journal of Contemporary Ethnography 22:7–27. Owens, Jayanti, and Lauren Rivera. 2012. “Recasting the Value of an Elite Education: Institutional Prestige, Job Satisfaction, and Turnover.” Presentation at Academy of Management annual meeting, Boston, August. Pager, Devah. 2003. “The Mark of Criminal Record.” American Journal of Sociology 108:937–75. Pager, Devah, and Diana Karafin. 2009. “Bayesian Bigot? Statistical Discrimination, Stereotypes, and Employer Decision-Making.” Annals of the American Academy of Political and Social Science 621:70–93. Pager, Devah, and Lincoln Quillian. 2005.


pages: 685 words: 203,949

The Organized Mind: Thinking Straight in the Age of Information Overload by Daniel J. Levitin

airport security, Albert Einstein, Amazon Mechanical Turk, Anton Chekhov, Bayesian statistics, big-box store, business process, call centre, Claude Shannon: information theory, cloud computing, cognitive bias, complexity theory, computer vision, conceptual framework, correlation does not imply causation, crowdsourcing, cuban missile crisis, Daniel Kahneman / Amos Tversky, delayed gratification, Donald Trump, en.wikipedia.org, epigenetics, Eratosthenes, Exxon Valdez, framing effect, friendly fire, fundamental attribution error, Golden Gate Park, Google Glasses, haute cuisine, impulse control, index card, indoor plumbing, information retrieval, invention of writing, iterative process, jimmy wales, job satisfaction, Kickstarter, life extension, longitudinal study, meta analysis, meta-analysis, more computing power than Apollo, Network effects, new economy, Nicholas Carr, optical character recognition, Pareto efficiency, pattern recognition, phenotype, placebo effect, pre–internet, profit motive, randomized controlled trial, Rubik’s Cube, shared worldview, Skype, Snapchat, social intelligence, statistical model, Steve Jobs, supply-chain management, the scientific method, The Wealth of Nations by Adam Smith, The Wisdom of Crowds, theory of mind, Thomas Bayes, Turing test, ultimatum game, zero-sum game

There are things that managers can do to improve productivity, based on recent findings in neuroscience and social psychology. Some of these are obvious and well known, such as setting clear goals and providing high-quality, immediate feedback. Expectations need to be reasonable or employees feel overwhelmed, and if they fall behind, they feel they can never catch up. Employee productivity is directly related to job satisfaction, and job satisfaction in turn is related to whether employees experience that they are doing a good job in terms of both quality and quantity of output. There’s a part of the brain called Area 47 in the lateral prefrontal cortex that my colleague Vinod Menon and I have been closely studying for the last fifteen years. Although no larger than your pinky finger, it’s a fascinating area just behind your temples that has kept us busy.

If we can predict all aspects of the job, down to the tiniest minutiae, it tends to be boring because there is nothing new and no opportunity to apply the discretion and judgment that management consultants and the U.S. Army have justly identified as components to finding one’s work meaningful and satisfying. If some but not too many aspects of the job are surprising in interesting ways, this can lead to a sense of discovery and self-growth. Finding the right balance to keep Area 47 happy is tricky, but the most job satisfaction comes from a combination of these two: We function best when we are under some constraints and are allowed to exercise individual creativity within those constraints. In fact, this is posited to be the driving force in many forms of creativity, including literary and musical. Musicians work under the very tight constraints of a tonal system—Western music uses only twelve different notes—and yet within that system, there is great flexibility.

Here, structure is high when complexity is low—this is equivalent to saying that the Shannon information content is low. Again, this may seem counterintuitive, but a business has a greater degree of structural organization if its org chart can be described in a simple rule containing few words, and there are no exceptions to the rule. Whether the degree of structure of a company predicts efficiency, profitability, or job satisfaction remains an empirical question, one that has not been investigated. On the one hand, individuals clearly differ in their ability to supervise others, and so, naturally, some bosses will have more employees simply because they are adept at handling more. Individuals also differ widely in their skills, and a nimble and efficient organization should allow employees to use their strengths for the good of the company.


pages: 312 words: 84,421

This Chair Rocks: A Manifiesto Against Ageism by Ashton Applewhite

affirmative action, Affordable Care Act / Obamacare, Airbnb, Albert Einstein, Atul Gawande, Buckminster Fuller, clean water, cognitive dissonance, crowdsourcing, desegregation, Downton Abbey, fixed income, follow your passion, ghettoisation, Google Hangouts, hiring and firing, income inequality, informal economy, Internet of things, invention of the printing press, job satisfaction, labor-force participation, life extension, longitudinal study, Mark Zuckerberg, Naomi Klein, obamacare, old age dependency ratio, RAND corporation, Ronald Reagan, Rosa Parks, sensible shoes, Silicon Valley, Skype, smart cities, Snapchat, stem cell, the built environment, urban decay, urban planning, white picket fence, women in the workforce

When the prevailing fantasy is that we can be ageless, the geriatrician’s uncomfortable demand is that we accept we are not.”19 Medical students also assume, wrongly, that practicing geriatrics will be depressing. Guess what kind of doctors report the highest job satisfaction, over and over? Geriatricians. And the happiest geriatricians have lots of patients over seventy-five and accept Medicare.20 To what did the authors of a UC Davis study of more than 6,500 physicians attribute this? “In addition to the steady hours, encounters with inspirational seniors, and enduring relationships, this specialty is enjoying increasing demand as baby boomers retire.” They then note, without irony, that “relatively poor Medicare reimbursements have led to shortages of geriatricians nationwide.”21 How about improving those Medicare reimbursement rates? How about using those job satisfaction numbers to address the image problem? How about debt forgiveness for geriatricians in training?


pages: 678 words: 148,827

Transcend: The New Science of Self-Actualization by Scott Barry Kaufman

Albert Einstein, David Brooks, desegregation, Donald Trump, fear of failure, happiness index / gross national happiness, hedonic treadmill, helicopter parent, impulse control, job satisfaction, longitudinal study, Menlo Park, meta analysis, meta-analysis, Nelson Mandela, phenotype, Ralph Waldo Emerson, randomized controlled trial, Rosa Parks, science of happiness, Silicon Valley, Snapchat, social intelligence, Steven Pinker, theory of mind

Just as Maslow predicted, those with higher self-actualization scores were much more motivated by growth, exploration, and love of humanity than the fulfillment of deficiencies in basic needs. Self-actualization scores were associated with multiple indicators of well-being, including greater life satisfaction, curiosity, self-acceptance, positive relationships, environmental mastery, personal growth, autonomy, and purpose in life. Self-actualization also predicted job performance, job satisfaction, and reports of greater talent, skill, and creative ability across a wide range of fields, from the arts and sciences to business and sports. The characteristics of self-actualization can conceptually be grouped into four categories, which will form the remainder of this book: exploration, love, purpose, and transcendence. Together, the first three enable growth. At the base of growth is exploration, which all other growth needs draw on.

C would be pretty upset if he were forced to stop working, and he is not particularly looking forward to retirement. Organizational psychologist Amy Wrzesniewski and her colleagues found that it’s easy for most people to assign themselves to one of these dimensions (in fact, the researchers were surprised just how easily people were able to do so!).29 They found that people who viewed their job as a calling reported greater levels of life satisfaction and job satisfaction and missed fewer days at work compared to those who viewed their job as just a job or as a career. The findings hold even when you control for income, education, and occupation, suggesting that satisfaction with life and with work may depend more on how you see your work than on income or occupational prestige. In fact, the following statement was strongly correlated with viewing your job as a calling: “If I was financially secure, I would continue with my current line of work even if I was no longer paid.”

Everyone gives everyone else the benefit of the doubt and is continually trying to see the best in others. People aren’t interacting with others only to get something from them, but they truly admire others and care for their growth, development, and freedom. Finally, autonomy-supportive organizational cultures allow for a certain degree of job-crafting, whereby employees have some say in designing their job to allow growth, engagement, job satisfaction, resilience, purpose, and well-being.103 Job crafters can redesign how they perform tasks, increasing social connection while engaging in their task, and reframe their task as something more meaningful and beneficial to society. The restaurant chef can become an artist. The nurse can become a therapist. Even the most seemingly limited jobs can afford opportunities for job crafting. As Justin Berg, Jane Dutton, and Amy Wrzesniewski note, “A machine operator who works on an assembly line may craft her job by forging enjoyable social relationships with coworkers or taking on additional tasks in order to use her talents, such as building a shelving system to organize important equipment.”104 Job-crafting also has the potential to satisfy one’s unanswered callings.


Immigration and Ethnic Formation in a Deeply Divided Society: The Case of the 1990s Immigrants From the Former Soviet Union in Israel by Majid Al Haj

demographic transition, ghettoisation, job satisfaction, mass immigration, phenotype, profit motive, zero-sum game

However, there was a significant negative relationship between immigrants’ residential concentration, on the one hand, and their actual knowledge of Hebrew (r = –0.183) and satisfaction with their command of Hebrew (r = –.0163), on the other hand. In other words, living in an “immigrant” neighborhood is a voluntary act stemming from the immigrants’ free choice, which is facilitated by the very fact that immigrants form a sizable group in most urban communities in Israel. The positive relationship between demographic concentration and job satisfaction may be explained by the fact that living in a predominantly immigrant neighborhood puts one in contact with immigrant networks that facilitate finding an appropriate job. This issue was raised in our immigrant focus groups. When asked about the process of finding their first job in Israel, immigrants repeatedly said that immigrant networks (neighbors and friends) played an important role in their entry to the labor market, mainly in the initial stage after arrival.

They also have a strong feeling of discrimination in comparison with veterans (Bar-Tzur and Handels 1993). In a study of the occupational adjustment of FSU physicians who immigrated to Israel in the 1990s wave, Bernstein and Shuval concluded that only 25% of those who arrived in 1989–1993 found employment in the health-care system. They also found a strong relationship between occupational-status persistence, on the one hand, and job satisfaction and identification with the host society, on the other (Bernstein and Shuval 1995). In any event, most studies agree that despite the job mismatch experienced by many FSU immigrants in Israel, their economic integration can be considered a success story (see, for example, Beenstock and Menahem 1997; Raijman and Semyonov 1998). Beenstock and Menahem (1997: 206) conclude that wage flexibility in Israel turned the expansion of the labor force produced by the mass immigration into economic growth and job creation instead of unemployment.


pages: 416 words: 100,130

New Power: How Power Works in Our Hyperconnected World--And How to Make It Work for You by Jeremy Heimans, Henry Timms

"side hustle", 3D printing, 4chan, Affordable Care Act / Obamacare, Airbnb, augmented reality, autonomous vehicles, battle of ideas, Benjamin Mako Hill, bitcoin, blockchain, British Empire, Chris Wanstrath, Columbine, Corn Laws, crowdsourcing, David Attenborough, Donald Trump, Elon Musk, Ferguson, Missouri, future of work, game design, gig economy, hiring and firing, IKEA effect, income inequality, informal economy, job satisfaction, Jony Ive, Kibera, Kickstarter, Lean Startup, Lyft, Mark Zuckerberg, Minecraft, Network effects, new economy, Nicholas Carr, obamacare, Occupy movement, profit motive, race to the bottom, ride hailing / ride sharing, rolodex, Saturday Night Live, sharing economy, Silicon Valley, six sigma, Snapchat, social web, TaskRabbit, the scientific method, transaction costs, Travis Kalanick, Uber and Lyft, uber lyft, upwardly mobile, web application, WikiLeaks

We’ll unpack how the Lego company saved its brand by turning to the crowd. We’ll consider how TED grew from an exclusive conference into one of the biggest ideas communities in the world. We’ll look at how Pope Francis is trying to shift the nature of his church by empowering his flock. We’ll introduce some lesser-known examples, too: nurses banding together to cut down on bureaucracy and improve patients’ lives (and their own job satisfaction); a car company that turns to its customers to design its vehicles; a successful media company built, funded, and shaped by its readers. Whether you are a historian yearning to share your knowledge in a post-truth world, a determined parent running for your local school board, or a creator wanting to get a new product off the ground, there are a range of distinctive new capabilities that people and businesses need to discover.

Every member of the team can freely view its budget and billable hours (with help from Buurtzorg’s own “nurse-friendly” software, which makes this transparent across the whole network). No one can question the motives of the boss, because management in each team is a shared responsibility. The teams are deliberately small enough that consensus-based decision-making is workable. The deep sense of ownership and collegiality Madelon feels produces the kind of job satisfaction that even the fanciest all-you-can-eat Google cafeteria lunch spread cannot buy. It also provides a foundation, based in trust, transparency, and mutual accountability, that enables her to focus on outcomes, rather than just manage workplace politics or hit corporate targets imposed from the top down. Like any good start-up founder, she sees her job as locating customer pain points and coming up with solutions in innovative ways.


pages: 335 words: 96,002

WEconomy: You Can Find Meaning, Make a Living, and Change the World by Craig Kielburger, Holly Branson, Marc Kielburger, Sir Richard Branson, Sheryl Sandberg

Airbnb, Albert Einstein, barriers to entry, blood diamonds, business intelligence, business process, carbon footprint, clean water, cleantech, Colonization of Mars, corporate social responsibility, Downton Abbey, Elon Musk, energy transition, family office, future of work, global village, inventory management, James Dyson, job satisfaction, Kickstarter, market design, meta analysis, meta-analysis, microcredit, Nelson Mandela, Occupy movement, pre–internet, shareholder value, sharing economy, Silicon Valley, Snapchat, Steve Jobs, telemarketer, The Fortune at the Bottom of the Pyramid, working poor, Y Combinator

As a business, this presents a huge opportunity for free advertising that resonates far more with consumers than a 30-second TV commercial. Purpose must be factored into the economy to account for our changing attitudes and expectations of companies. What Does It All Add Up To? So we can afford to care more than ever, we want our voices to be heard more than ever, and we live in the most connected era in human history. How do we leverage this knowledge to improve our lives, improve our job satisfaction, get promoted, and make our businesses more profitable—all while contributing to the greater good? Those are the questions we're going to answer here, in Part Two. In the chapters ahead, we'll show you how world-leading companies have used purpose as a launch pad to build new products, differentiate in a competitive market, increase employee engagement, and secure more loyal brand ambassadors.

Co-chaired by my dad and Jochen Zeitz, former CEO of Puma, this global group of 24 leaders are working together to accelerate Plan B. What Millennials Want3 Millennials want a purpose, they don't just work for a paycheck. Of course they want fair compensation but beyond that, they want to work for a company that has purpose baked into its culture. Millennials are pursuing development, they are not simply pursuing job satisfaction. They want to be involved in decision making. They want to learn what makes a business tick and not be treated as cogs in the wheel. Millennials want coaches, they don't want bosses.Without doubt, if you don't provide mentorship programs, you should. It's also worth exploring the idea of reverse mentoring: pair the CEO with a more junior employee, who will have much to teach about day-to-day work on the frontlines.


pages: 346 words: 101,255

The Big Necessity: The Unmentionable World of Human Waste and Why It Matters by Rose George

American Society of Civil Engineers: Report Card, Anton Chekhov, Bob Geldof, Celtic Tiger, clean water, glass ceiling, indoor plumbing, informal economy, job satisfaction, John Snow's cholera map, joint-stock company, land reform, low cost airline, Nelson Mandela, New Urbanism, Pepto Bismol, Potemkin village, Report Card for America’s Infrastructure, Steven Pinker, urban planning

Edwin earns $15 an hour. The most senior crew member only gets $21. I suspect they’d earn more cleaning toilets. More attractive are stability and benefits, crucial in a country where the only health care on offer has to be paid for. That’s what attracted Buckley, when he got off the plane from London in the 1970s and didn’t want to be “the stereotypical Irish navvy.” The only thing lacking for job satisfaction is a proper New York nickname. At a manhole in La Guardia Airport, Buckley is showing me another tide gate, shining light into the hole with a mirror and sunlight (“better than any flashlight”) when a Port Authority cop stops by. He asks what we’re doing, and when Buckley replies, “Looking for alligators,” nods with no apparent disbelief before moving in for a peer. I ask the cop why they’re known as New York’s finest, why firefighters are New York’s bravest, and even prison officers at Rikers Island are New York’s boldest, but the men who keep sewage flowing, and keep disease away, have nothing.

See public toilets Public Toilet (Chan) public toilets in Bangkok in Beijing in Dewsbury as good economic management historical rise of illicit activities in innovation and invention in lawsuits over in Mumbai as a sign of civilization SPARC toilet blocks in the United States purity rituals Qi Furen Rakesh, Sanjay Kumar Rampton, Sheldon rape of Dalit women rats in sewers Razak, Sheikh Reilly, Maureen religion, hygiene and ringworm Rockefeller, Abby Romans, communal latrines of Roosevelt, Teddy Rose, Gregory Rubin, Alan Samiapalli sanitation as a central feature of cities in Dar es Salaam disease toll from lack of ecological economic savings from number of U.S. people without prioritization of water over school attendance and in South Africa spread of, in India in Tanzania sanitation marketing Sanjour, William SARS Satis Satou, Tomohiko Sattar, Rayeen Abdul Saywell, Darren Scheduled Castes. See Dalits schistosomiasis school attendance and sanitation Seabrook, Jeremy self-restraint separate sewer systems Severn Trent classroom sewage effluent, reuse of sewage sludge. See biosolids sewage treatment plants sewage treatment ponds sewer workers dangers for duties of job satisfaction of marginalization of salaries of sewers of ancient societies hazards in in India inspection of in Japan in London (see London sewers) in New York City rats in security issues with simplified systems sex in public facilities Shaanxi Mothers Environmental Protection Volunteer Association Shambahaji Nagar Shankar, Mr. Shanti Nagar Shepard, Alan She-Pee female urinals Shi Chuanxiang Shields, Helane Shirur, Siddarth shit.


pages: 293 words: 97,431

You Are Here: Why We Can Find Our Way to the Moon, but Get Lost in the Mall by Colin Ellard

A Pattern Language, call centre, car-free, Chuck Templeton: OpenTable:, Frank Gehry, global village, Google Earth, Jane Jacobs, Jaron Lanier, job satisfaction, Marshall McLuhan, McMansion, New Urbanism, peak oil, polynesian navigation, Ralph Waldo Emerson, the built environment, The Death and Life of Great American Cities, the medium is the message, traveling salesman, urban planning, urban sprawl

Given the enormous social costs of problem gambling, such issues deserve our close attention. MAKING WORKSPACE WORK In addition to the time we spend in large buildings to shop, for entertainment, or perhaps to interact with government officials, most of us spend many hours in such larger inner spaces because of our occupations. The many ways in which the design and configuration of space can influence worker behavior, productivity, and job satisfaction are both fascinating and complex. At a basic level, the organization of space can be used to control access and regulate privacy within the workspace. One simple example can be found in many office buildings, where there is a correlation between the position of an executive in the power hierarchy and his or her spatial position in a building. Receptionists, almost by definition, are going to be useful only if they are placed where they will be easily discovered by visitors who are unfamiliar with the building.

The classic hive of cubicles is decreasing in popularity these days, as progressive companies work hard to find ways to maximize retention of workers, especially in the knowledge industries that form an increasing part of the economy of the Western world. The basic cubicle design is still often a mainstay, though the manner in which its enclosing walls encourage or inhibit interactivity, and the effects of cubicle organization on workflow management, are garnering more attention than in previous times. Yet there is much work to be done to understand how space can be utilized to maximize productivity, economy, and job satisfaction. Some offices have tried moving to completely open designs in which employees are not provided with dedicated workspaces at all but are left to organize their own spaces using open tables and mobile technologies, perhaps with a few specialized walled areas to enhance privacy for smaller face-to-face meetings. Though such an open plan might work well for certain types of activities, especially for very small companies, it is less likely to be satisfactory for larger institutions, unless those institutions can rely heavily on mobile communications and are willing to encourage telecommuting.


pages: 98 words: 30,109

Remote: Office Not Required by Jason Fried, David Heinemeier Hansson

Broken windows theory, David Heinemeier Hansson, en.wikipedia.org, equal pay for equal work, Google Hangouts, job satisfaction, Kevin Kelly, remote working, Richard Florida, Ruby on Rails, Silicon Valley, Skype

Since then we’ve expanded to thirty-six people spread out all over the globe, serving millions of users in just about every country in the world. We’ll draw on this rich experience to show how remote work has opened the door to a new era of freedom and luxury. A brave new world beyond the industrial-age belief in The Office. A world where we leave behind the dusty old notion of outsourcing as a way to increase work output at the lowest cost and replace it with a new ideal—one in which remote work increases both quality of work and job satisfaction. “Office not required” isn’t just the future—it’s the present. Now is your chance to catch up. CHAPTER THE TIME IS RIGHT FOR REMOTE WORK Why work doesn’t happen at work If you ask people where they go when they really need to get work done, very few will respond “the office.” If they do say the office, they’ll include a qualifier such as “super early in the morning before anyone gets in” or “I stay late at night after everyone’s left” or “I sneak in on the weekend.”


pages: 339 words: 105,938

The Skeptical Economist: Revealing the Ethics Inside Economics by Jonathan Aldred

airport security, Berlin Wall, carbon footprint, citizen journalism, clean water, cognitive dissonance, congestion charging, correlation does not imply causation, Diane Coyle, endogenous growth, experimental subject, Fall of the Berlin Wall, first-past-the-post, framing effect, greed is good, happiness index / gross national happiness, hedonic treadmill, Intergovernmental Panel on Climate Change (IPCC), invisible hand, job satisfaction, John Maynard Keynes: Economic Possibilities for our Grandchildren, labour market flexibility, laissez-faire capitalism, libertarian paternalism, longitudinal study, new economy, Pareto efficiency, pension reform, positional goods, Ralph Waldo Emerson, RAND corporation, risk tolerance, school choice, spectrum auction, Thomas Bayes, trade liberalization, ultimatum game

But if people are regularly unselfish, then these policies will backfire, having the opposite effect to that intended, as we will see below. And there are many other examples of government policies which are inefficient: they lead to an unnecessary waste of resources because of the presumption that everyone is selfish. For example: setting income tax rates without allowing for intrinsic job satisfaction excessive enforcement of fare-paying on public transport heavy use of targets and audits in the management of schools, hospitals and universities. With this much at stake, how can we convince the economists that we are not always selfish? The story of the lost wallets seems a good place to start. Although it was a contrived experiment, it exactly mimics a familiar real-life situation.

Life is probably more complicated than in Aristotle’s time; certainly the citizens of modern developed nations hold a much wider range of views about the good life than the citizens of ancient Greece. My objective list might not suit you. To take just one example, consider the difficult choices almost all of us face in dividing time between our working and private lives. If Ann seeks a promotion, this may bring increased job satisfaction and greater financial security, but it reduces the time Ann has available for friends and family, and she may be more tired and stressed during these periods. Ann decides not to pursue the promotion, because the quality and depth of her personal relationships is central to her idea of a good life. But others might take the promotion, because for them career achievement is an even more important value on their objective lists.


pages: 397 words: 109,631

Mindware: Tools for Smart Thinking by Richard E. Nisbett

affirmative action, Albert Einstein, availability heuristic, big-box store, Cass Sunstein, choice architecture, cognitive dissonance, correlation coefficient, correlation does not imply causation, cosmological constant, Daniel Kahneman / Amos Tversky, dark matter, endowment effect, experimental subject, feminist movement, fixed income, fundamental attribution error, glass ceiling, Henri Poincaré, Intergovernmental Panel on Climate Change (IPCC), Isaac Newton, job satisfaction, Kickstarter, lake wobegon effect, libertarian paternalism, longitudinal study, loss aversion, low skilled workers, Menlo Park, meta analysis, meta-analysis, quantitative easing, Richard Thaler, Ronald Reagan, selection bias, Shai Danziger, Socratic dialogue, Steve Jobs, Steven Levy, the scientific method, The Wealth of Nations by Adam Smith, Thomas Kuhn: the structure of scientific revolutions, William of Occam, Zipcar

This correlation is then buttressed with an MRA showing that the better the leave policy, the more satisfied employees are with their jobs, and that this is still true when you “control for” size of company, employee salary, ratings of how pleasant coworkers are, ratings of how much the immediate superior is liked, and so forth. There are three problems with this kind of analysis. First, a limited number of variables will have been measured, and if one or more have been poorly measured, or if there are other variables not examined by investigators that are correlated both with generosity of parental leave policy and job satisfaction, it may be those associations that account for job satisfaction, not leave policy. Second, it really makes no sense to pull parental leave policy out of the total picture of the employee’s experience with a company. Generosity of the company in that respect is likely to be bound up with all kinds of other positive qualities of the company. Pulling that one thread out of the complicated ball of relationships among variables, then attempting to “control” for a few out of many variables in that ball, is not likely to protect us from mistakes.


The Managed Heart: Commercialization of Human Feeling by Arlie Russell Hochschild

affirmative action, airline deregulation, call centre, cognitive dissonance, deskilling, Frederick Winslow Taylor, job satisfaction, late capitalism, longitudinal study, new economy, post-industrial society, profit motive, randomized controlled trial, telemarketer

.* The image they chose, among many possible ones, was that of a beautiful and smartly dressed Southern white woman, the supposed epitome of gracious manners and warm personal service. t Because airline ads raise expectations, they subtly rewrite job descriptions and redefine roles. They promise on-time service, even though planes are late from 10 to 50 percent of the time, industrywide. Their pictures of half-empty planes promise space and leisurely service, which are seldom available (and certainly not desired by the company). They promise service from happy workers, even though the industry speedup has reduced job satisfaction. By creating a discrepancy between promise and fact, they force workers in all capacities to cope with the disappointed expectations of customers. The ads promise service that is "human" and personal. The omnipresent smile suggests, first of all, that the flight attendant is friendly, helpful, and open to requests. But when words are added, the smile can be sexualized, as in "We really move our tails for you to make your every wish come true" (Continental), or "Fly me, you'll like it" (National).

Phillips, Anne and Barbara Taylor 1986 "Sex and Skill," in Feminist Review (ed.), Waged Work: A Reader. London: Virago. Pierce,Jennifer L. 1995 Gender Trials: Emotional Lives in Contemporary Law Firms. Berkeley: University of California Press. 1999 "Emotional Labor Among Paralegals," Annals of the American Academy of Political and Social Science V561:127-142. Pugliesi, K "The Consequences of Emotional Labor: Effects 1999 on Work Stress, Job Satisfaction, and Well-Being," Motivation and Emotion V23 (N2): 125-154. Rafaeli, Anat 1989 "When Cashiers Meet Customers: An Analysis of the Role of Supermarket Cashiers," Academy of Management Journal 32 (2) :245-73. 284 Bibliography to the Twentieth Anniversary Edition Rafaeli, Anat and Robert Sutton 1987 "Expression of Emotion as Part of the Work Role," Academy of Management Review 12 (1) :23-37. 1989 "The Expression of Emotion in Organizational Life," in Barry M.


pages: 409 words: 105,551

Team of Teams: New Rules of Engagement for a Complex World by General Stanley McChrystal, Tantum Collins, David Silverman, Chris Fussell

Airbus A320, Albert Einstein, Atul Gawande, autonomous vehicles, bank run, barriers to entry, Black Swan, butterfly effect, call centre, Captain Sullenberger Hudson, Chelsea Manning, clockwork universe, crew resource management, crowdsourcing, Edward Snowden, Flash crash, Frederick Winslow Taylor, global supply chain, Henri Poincaré, high batting average, interchangeable parts, invisible hand, Isaac Newton, Jane Jacobs, job automation, job satisfaction, John Nash: game theory, knowledge economy, Mark Zuckerberg, Mohammed Bouazizi, Nate Silver, Pierre-Simon Laplace, RAND corporation, self-driving car, Silicon Valley, Silicon Valley startup, Skype, Steve Jobs, supply-chain management, The Wealth of Nations by Adam Smith, urban sprawl, US Airways Flight 1549, WikiLeaks, zero-sum game

Velthouse, “Cognitive Elements of Empowerment: An ‘Interpretive’ Model of Intrinsic Task Motivation,” Academy of Management Review 15, no. 4 (October 1990): 666. nursing in China . . . S. Ning, H. Zhong, W. Libo, and L. Qiujie, “The Impact of Nurse Empowerment on Job Satisfaction,” Journal of Advanced Nursing 65, issue 12 (December 2009), http://www.ncbi.nlm.nih.gov/pubmed/19941547. five-star hotels in Turkey . . . Elbeyi Pelit, Yüksel Öztürk, and Yalçın Arslantürk, “The Effects of Employee Empowerment on Employee Job Satisfaction: A Study on Hotels in Turkey,” International Journal of Contemporary Hospitality Management 23, no. 6 (2011), http://www.emeraldinsight.com/journals.htm?articleid=1944210. “primarily upon two important elements” . . . Kanigel, One Best Way, 377. only 20 percent of workers . . .


pages: 654 words: 191,864

Thinking, Fast and Slow by Daniel Kahneman

Albert Einstein, Atul Gawande, availability heuristic, Bayesian statistics, Black Swan, Cass Sunstein, Checklist Manifesto, choice architecture, cognitive bias, complexity theory, correlation coefficient, correlation does not imply causation, Daniel Kahneman / Amos Tversky, delayed gratification, demand response, endowment effect, experimental economics, experimental subject, Exxon Valdez, feminist movement, framing effect, hedonic treadmill, hindsight bias, index card, information asymmetry, job satisfaction, John von Neumann, Kenneth Arrow, libertarian paternalism, loss aversion, medical residency, mental accounting, meta analysis, meta-analysis, nudge unit, pattern recognition, Paul Samuelson, pre–internet, price anchoring, quantitative trading / quantitative finance, random walk, Richard Thaler, risk tolerance, Robert Metcalfe, Ronald Reagan, Shai Danziger, Supply of New York City Cabdrivers, The Chicago School, The Wisdom of Crowds, Thomas Bayes, transaction costs, union organizing, Walter Mischel, Yom Kippur War

Here we found one of the few contrasts between French and American women: Frenchwomen spend less time with their children but enjoy it more, perhaps because they have more access to child care and spend less of the afternoon driving children to various activities. An individual’s mood at any moment depends on her temperament and overall happiness, but emotional well-being also fluctuates considerably over the day and the week. The mood of the moment depends primarily on the current situation. Mood at work, for example, is largely unaffected by the factors that influence general job satisfaction, including benefits and status. More important are situational factors such as an opportunity to socialize with coworkers, exposure to loud noise, time pressure (a significant source of negative affect), and the immediate presence of a boss (in our first study, the only thing that was worse than being alone). Attention is key. Our emotional state is largely determined by what we attend to, and we are normally focused on our current activity and immediate environment.

But we have also learned that the word happiness does not have a simple meaning and should not be used as if it does. Sometimes scientific progress leaves us more puzzled than we were before. Speaking of Thinking About Life “She thought that buying a fancy car would make her happier, but it turned out to be an error of affective forecasting.” “His car broke down on the way to work this morning and he’s in a foul mood. This is not a good day to ask him about his job satisfaction!” “She looks quite cheerful most of the time, but when she is asked she says she is very unhappy. The question must make her think of her recent divorce.” “Buying a larger house may not make us happier in the long term. We could be suffering from a focusing illusion.” “He has chosen to split his time between two cities. Probably a serious case of miswanting.” Conclusions I began this book by introducing two fictitious characters, spent some time discussing two species, and ended with two selves.

best examples of substitution: Fritz Strack, Leonard L. Martin, and Norbert Schwarz, “Priming and Communication: Social Determinants of Information Use in Judgments of Life Satisfaction,” European Journal of Social Psychology 18 (1988): 429–42. correlations between psychological measures: The correlation was .66. dominates happiness reports: Other substitution topics include marital satisfaction, job satisfaction, and leisure time satisfaction: Norbert Schwarz, Fritz Strack, and Hans-Peter Mai, “Assimilation and Contrast Effects in Part-Whole Question Sequences: A Conversational Logic Analysis,” Public Opinion Quarterly 55 (1991): 3–23. evaluate their happiness: A telephone survey conducted in Germany included a question about general happiness. When the self-reports of happiness were correlated with the local weather at the time of the interview, a pronounced correlation was found.


pages: 757 words: 193,541

The Practice of Cloud System Administration: DevOps and SRE Practices for Web Services, Volume 2 by Thomas A. Limoncelli, Strata R. Chalup, Christina J. Hogan

active measures, Amazon Web Services, anti-pattern, barriers to entry, business process, cloud computing, commoditize, continuous integration, correlation coefficient, database schema, Debian, defense in depth, delayed gratification, DevOps, domain-specific language, en.wikipedia.org, fault tolerance, finite state, Firefox, Google Glasses, information asymmetry, Infrastructure as a Service, intermodal, Internet of things, job automation, job satisfaction, Kickstarter, load shedding, longitudinal study, loose coupling, Malcom McLean invented shipping containers, Marc Andreessen, place-making, platform as a service, premature optimization, recommendation engine, revision control, risk tolerance, side project, Silicon Valley, software as a service, sorting algorithm, standardized shipping container, statistical model, Steven Levy, supply-chain management, Toyota Production System, web application, Yogi Berra

Once the end-to-end process is automated, it can be instrumented and metrics can be collected automatically. With metrics we can make data-driven improvements. For a process to be continuously improved, we not only need the right technology but also need a culture that embraces change. • Improved Job Satisfaction: It is exciting and highly motivating to see our changes rapidly put into production. When the interval between doing work and receiving the reward is small enough, we associate the two. Our job satisfaction improves because we get instant gratification from the work we do. Rather than focusing purely on cycle time, a team should have metrics that balance the velocity of individual aspects of the software delivery platform. We recommend that every DevOps team collect the following metrics: 1.

continuous delivery, 190, 223 DevOps Cafe Podcast, 188, 200 HVMs (hardware virtual machines), 58 Hybrid load balancing strategy, 75 Hyper-Text Transfer Protocol (HTTP) load balancing, 75 overview, 69 IaaS (Infrastructure as a Service), 51–54 IAPs (Incident Action Plans), 326–327 Ideals for KPIs, 390 Image method of OS installation, 219–220 Impact focus for feature requests, 46 Implementation of disaster preparedness, 318–320 Import controls, 41–42 Improvement levels in operational excellence, 412–413 Improving models in design for operations, 48–49 In-house service provider factor in service platform selection, 67 Incident Action Plans (IAPs), 326–327 “Incident Command for IT: What We Can Learn from the Fire Department” talk, 323 Incident Command System, 323–324 best practices, 327–328 example use, 328–329 Incident Action Plan, 326–327 IT operations arena, 326 public safety arena, 325 Incident Commanders, 324–325, 328 Index lookup speed, 28 Individual training for disaster preparedness, 311–312 Informal review workflows, 280 Infrastructure automation strategies, 217–220 DevOps, 185 service platform selection, 67 Infrastructure as a Service (IaaS), 51–54 Infrastructure as code, 221–222 Inhibiting alert messages, 356–357 Initial level in CMM, 405 Innovating, 148 Input/output (I/O) overload, 13 virtual environments, 58–59 Installation in deployment phase, 212–213 OS and services, 219–220 Integration in DevOps, 182 Intel OKR system, 389 Intentional delays in continuous deployment, 238 Intermodal shipping, 62 Internal backbones in cloud-scale service, 83–85 Internet Protocol (IP) addresses deployment phase, 222 load balancers, 72–73 restrictions on, 40 Introducing new features, flag flips for, 232 Introspection, 10 Invalidation of cache entry, 108 Involvement in DevOps, 183 IP (Internet Protocol) addresses deployment phase, 222 load balancers, 72–73 restrictions on, 40 Isolation in ACID term, 24 ISPs for cloud-scale service, 83 Issues naming standards, 264 tracking systems, 263–265 IT operations arena in Incident Command System, 326 ITIL recommended reading, 488 j-SOX requirements, 43 Jacob, Adam, 173 Jails containers, 60 processes, 55 Java counters, 350 JCS (joint cognitive system), 248 Jenkins CI tool, 205 Job satisfaction in service delivery, 201 Joint cognitive system (JCS), 248 JSON transmitted over HTTP, 351 Kamp, P.-H., 478–479 Kartar, J., 183 Keeven, T., 99 Kejariwal, A., 371 Kernighan, B., 11 Key indicators in capacity planning, 380–381 Key performance indicators (KPIs), 387–388 creating, 389–390 Error Budget case study, 396–399 evaluating, 396 exercises, 399–400 machine allocation example, 393–396 monitoring example, 336–337 overview, 388–389 summary, 399 Keywords in alerts, 304 Kim, Gene, 171–172 Klau, Rick, 389 Kotler, Philip, 365 KPIs.


The Global Citizen: A Guide to Creating an International Life and Career by Elizabeth Kruempelmann

Berlin Wall, business climate, corporate governance, different worldview, Fall of the Berlin Wall, follow your passion, global village, job satisfaction, Menlo Park, money market fund, Nelson Mandela, young professional

Well, I am perhaps the only student in the history of Duke Law School who smuggled a book on Portuguese history (in Portuguese) to class to escape the grinding boredom of criminal law. I gave my parents’ goals more than a fair shot, and the effort ended up displacing all of my other interests in life. Now that I have decided to leave law, I am reevaluating whether or not to pick up where I left off before law school. I decided that for me, job satisfaction would be found with a job that connects to my own interests and talents, but first I had to reconnect with those interests and talents— they had remained unused and unexamined for about five years. I went through my belongings and discarded about one-third of all my stuff. Organizing photos was very instructive. I observed that I looked tired and stressed out in most of my photos from law school, but the photos I have from Africa show a much happier me.

Some people will receive a good job offer rather quickly, and others may never get the offer they were looking for. It all comes down to having realistic expectations, maintaining a positive attitude, and learning to make the most out of your experiences. K E E P Y O U R E X P E C TA T I O N S R E A L I S T I C One of the most common first mistakes I see job hunters make is to expect a fulltime job overseas that is comparable in salary, benefits, and job satisfaction to similar jobs at home. Although it is possible to be sent abroad with a fabulous relocation package full of perks (and you’ll know if you qualify for this), the number of international job seekers out there far outweighs the number of cushy expat opportunities overseas. Having said that, if you do get an offer (or even multiple offers) to work overseas, you might encounter salaries that are substantially higher or lower than what you are used to.


pages: 424 words: 114,905

Deep Medicine: How Artificial Intelligence Can Make Healthcare Human Again by Eric Topol

23andMe, Affordable Care Act / Obamacare, AI winter, Alan Turing: On Computable Numbers, with an Application to the Entscheidungsproblem, artificial general intelligence, augmented reality, autonomous vehicles, bioinformatics, blockchain, cloud computing, cognitive bias, Colonization of Mars, computer age, computer vision, conceptual framework, creative destruction, crowdsourcing, Daniel Kahneman / Amos Tversky, dark matter, David Brooks, digital twin, Elon Musk, en.wikipedia.org, epigenetics, Erik Brynjolfsson, fault tolerance, George Santayana, Google Glasses, ImageNet competition, Jeff Bezos, job automation, job satisfaction, Joi Ito, Mark Zuckerberg, medical residency, meta analysis, meta-analysis, microbiome, natural language processing, new economy, Nicholas Carr, nudge unit, pattern recognition, performance metric, personalized medicine, phenotype, placebo effect, randomized controlled trial, recommendation engine, Rubik’s Cube, Sam Altman, self-driving car, Silicon Valley, speech recognition, Stephen Hawking, text mining, the scientific method, Tim Cook: Apple, War on Poverty, Watson beat the top human players on Jeopardy!, working-age population

It’s like an up-front investment that pays big dividends. That is completely counter to the productivity push in healthcare, where clinicians are squeezed to see more patients in less time. Of course, saving that money takes the doctor’s time. One study, called the Healthy Work Place, of 168 clinicians in thirty-four clinics, demonstrated that pace of work was one of the most important determinants of job satisfaction.9 A fascinating 2017 paper by psychologist Ashley Whillans and her colleagues, titled “Buying Time Promotes Happiness,” showed that time saving resulted in greater life satisfaction. The people studied were diverse, drawn from representative populations of the United States, Canada, Denmark, and the Netherlands, as well as a separate group of more than eight hundred Dutch millionaires. The increased happiness derived from purchasing time was across the board, independent of income or socioeconomic status, defying the old adage that money can’t buy happiness.10 The ongoing Time Bank project at Stanford University’s medical school shows how this works.

The increased happiness derived from purchasing time was across the board, independent of income or socioeconomic status, defying the old adage that money can’t buy happiness.10 The ongoing Time Bank project at Stanford University’s medical school shows how this works. The Time Bank is set up to reward doctors for their time spent on underappreciated work like mentoring, serving on committees, and covering for colleagues. In return, doctors get vouchers for time-saving services like housecleaning or meal delivery, leading to better job satisfaction, work-life balance, and retention rates.11 Like my classmates back in 1975, most people who have gone into the medical profession are motivated by, and feel privileged to have, the ability to care for patients. To a large degree, the rampant disenchantment is the result of not being able to execute our charge in a humanistic way. David Rosenthal and Abraham Verghese summed it up so well: In short, the majority of what we define as “work” takes place away from the patient, in workrooms and on computers.


pages: 772 words: 203,182

What Went Wrong: How the 1% Hijacked the American Middle Class . . . And What Other Countries Got Right by George R. Tyler

8-hour work day, active measures, activist fund / activist shareholder / activist investor, affirmative action, Affordable Care Act / Obamacare, bank run, banking crisis, Basel III, Black Swan, blood diamonds, blue-collar work, Bolshevik threat, bonus culture, British Empire, business cycle, business process, buy and hold, capital controls, Carmen Reinhart, carried interest, cognitive dissonance, collateralized debt obligation, collective bargaining, commoditize, corporate governance, corporate personhood, corporate raider, corporate social responsibility, creative destruction, credit crunch, crony capitalism, crowdsourcing, currency manipulation / currency intervention, David Brooks, David Graeber, David Ricardo: comparative advantage, declining real wages, deindustrialization, Diane Coyle, disruptive innovation, Double Irish / Dutch Sandwich, eurozone crisis, financial deregulation, financial innovation, fixed income, Francis Fukuyama: the end of history, full employment, George Akerlof, George Gilder, Gini coefficient, Gordon Gekko, hiring and firing, income inequality, invisible hand, job satisfaction, John Markoff, joint-stock company, Joseph Schumpeter, Kenneth Rogoff, labor-force participation, laissez-faire capitalism, lake wobegon effect, light touch regulation, Long Term Capital Management, manufacturing employment, market clearing, market fundamentalism, Martin Wolf, minimum wage unemployment, mittelstand, moral hazard, Myron Scholes, Naomi Klein, Northern Rock, obamacare, offshore financial centre, Paul Samuelson, pension reform, performance metric, pirate software, plutocrats, Plutocrats, Ponzi scheme, precariat, price stability, profit maximization, profit motive, purchasing power parity, race to the bottom, Ralph Nader, rent-seeking, reshoring, Richard Thaler, rising living standards, road to serfdom, Robert Gordon, Robert Shiller, Robert Shiller, Ronald Reagan, Sand Hill Road, shareholder value, Silicon Valley, Social Responsibility of Business Is to Increase Its Profits, South Sea Bubble, sovereign wealth fund, Steve Ballmer, Steve Jobs, The Chicago School, The Spirit Level, The Wealth of Nations by Adam Smith, Thorstein Veblen, too big to fail, transcontinental railway, transfer pricing, trickle-down economics, tulip mania, Tyler Cowen: Great Stagnation, union organizing, Upton Sinclair, upwardly mobile, women in the workforce, working poor, zero-sum game

In 2007, for example, a survey of employee retention programs by the US staffing firm Spherion found that workers predictably prioritized issues like growth and earning potential, higher salaries, and better health insurance. Yet American managers didn’t even rank wages among their top five retention tools; instead, they prioritize ephemeral steps such as enriched “supervisor relationships” and improved “workplace culture.”15Similar findings are noted in the Society for Human Resource Management’s 2007 Job Satisfaction Survey Report.16 The American judiciary has added to the downward spiral of wages, indifferent to enforcing employee protections or the right to organize and refusing even to establish guidelines on burgeoning issues including independent contractors. Among others, Nissan and SuperShuttle exploit the resulting gray area to routinely misclassify employees as contractors or franchisees. SuperShuttle, for example, shifts traditional routine firm costs (equipment purchases, fringe benefits, and Social Security/Medicare fees) to employees, while also dodging traditional obligations (minimum wages, overtime pay, and workers’ compensation fees).

Firms in the family capitalism countries have drawn quite heavily on Japanese practices in recent decades to outperform the United States. These practices are not complex, opaque, or obtuse. The reality is that too many American firms have simply been indifferent to the issue even though US economists readily parsed the collaborative Japanese and family capitalism models and determined why they produce superior worksite outcomes. Bradley Staats, Francesca Gino, and Gary Pisano, for example, documented in 2010 that job satisfaction and respect from supervisors willing to accept criticism are vital for firms hoping to maximize employee contributions to productivity. The psychological security associated with genuine team spirit and a two-way information flow causes employees to be more willing to introduce their own ideas and spar with colleagues and supervisors, elements simply indispensable in maximizing productivity.50 One way that collaboration enhances productivity is by incentivizing work effort.

500 Sign Up, 1 Wins a Job,” New York Times, October 21, 2009. 13 Associated Press, “Union drive at IKEA plant in US takes aim at Swedish furniture giant’s worker-friendly rep,” Washington Post, July 23, 2011. 14 Bernard Simon and Matt Kennard, “Two-tier system divides US carmaker workers,” Financial Times, December 14, 2011. 15 Vickie Elmer, “Show them the money,” Washington Post, October 24, 2007. 16 “2007 Job Satisfaction: A survey report by the Society for Human Resource Management,” Society for Human Resource Management, June 2007, http://www.workplacesolutionspros.com/resources/Job%20Satisfaction%20Survey%20Report.pdf. 17 Emma Schwartz, “How a good job hit a dead end,” Washington Post, April 22, 2012. 18 Woodall, Klayman, and Schwartz, “U.A.W. takes aim at foreign automakers.” 19 Vlasic and Bunkley, “U.A.W.


pages: 179 words: 43,441

The Fourth Industrial Revolution by Klaus Schwab

3D printing, additive manufacturing, Airbnb, Amazon Mechanical Turk, Amazon Web Services, augmented reality, autonomous vehicles, barriers to entry, Baxter: Rethink Robotics, bitcoin, blockchain, Buckminster Fuller, call centre, clean water, collaborative consumption, commoditize, conceptual framework, continuous integration, crowdsourcing, digital twin, disintermediation, disruptive innovation, distributed ledger, Edward Snowden, Elon Musk, epigenetics, Erik Brynjolfsson, future of work, global value chain, Google Glasses, income inequality, Internet Archive, Internet of things, invention of the steam engine, job automation, job satisfaction, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, life extension, Lyft, mass immigration, megacity, meta analysis, meta-analysis, more computing power than Apollo, mutually assured destruction, Narrative Science, Network effects, Nicholas Carr, personalized medicine, precariat, precision agriculture, Productivity paradox, race to the bottom, randomized controlled trial, reshoring, RFID, rising living standards, Sam Altman, Second Machine Age, secular stagnation, self-driving car, sharing economy, Silicon Valley, smart cities, smart contracts, software as a service, Stephen Hawking, Steve Jobs, Steven Levy, Stuxnet, supercomputer in your pocket, TaskRabbit, The Future of Employment, The Spirit Level, total factor productivity, transaction costs, Uber and Lyft, uber lyft, Watson beat the top human players on Jeopardy!, WikiLeaks, winner-take-all economy, women in the workforce, working-age population, Y Combinator, Zipcar

And because they’re not employees you don’t have to deal with employment hassles and regulations.”28 For the people who are in the cloud, the main advantages reside in the freedom (to work or not) and the unrivalled mobility that they enjoy by belonging to a global virtual network. Some independent workers see this as offering the ideal combination of a lot of freedom, less stress and greater job satisfaction. Although the human cloud is in its infancy, there is already substantial anecdotal evidence that it entails silent offshoring (silent because human cloud platforms are not listed and do not have to disclose their data). Is this the beginning of a new and flexible work revolution that will empower any individual who has an internet connection and that will eliminate the shortage of skills?


pages: 130 words: 43,665

Powerful: Teams, Leaders and the Culture of Freedom and Responsibility by Patty McCord

call centre, future of work, job satisfaction, late fees, Silicon Valley, Skype, the scientific method, women in the workforce

Compelling but misguided ideas about “best practices” prevail: bonuses and pay tied to annual performance reviews; big HR initiatives like the recent craze for lifelong learning programs; celebrations to build camaraderie and make sure people have some fun; and, for employees who are struggling, performance improvement plans. These foster empowerment, and with that comes engagement, which leads to job satisfaction and employee happiness, and that leads to high performance, or so the thinking goes. I used to believe this too. I started my career in HR at Sun Microsystems and then Borland Software, implementing the whole gamut of conventional practices. I negotiated all kinds of tantalizing bonuses. I dutifully rallied my teams for the dreaded performance review season and coached managers through the performance improvement process.


pages: 402 words: 123,199

In the Company of Heroes by Michael J. Durant, Steven Hartov

back-to-the-land, friendly fire, job satisfaction, placebo effect, Saturday Night Live, trade route, urban sprawl

Some of them have never flown in a helicopter before, and now they’re hurt and scared and you want to minimize any further environmental shock. You try to make it a little less traumatic for them. But you very rarely shut a helicopter down on a medevac, because starting it up again takes time and always has inherent dangers, system failures and the like. Their buddies loaded them onto litters in the back of our chopper and we flew them down to Yong San and the hospital at Seoul. The impact of my job satisfaction really hit me that first night. After we shut it down, debriefed, wrote up our reports, and turned in, I kept thinking about those injured soldiers who’d ridden in the back of our chopper and I couldn’t sleep, wondering about how they were. The next morning, I called the hospital and found out they were all going to make it just fine. I felt fantastic, like some super-hero. It was an incredible payoff for a job well done, and making those follow-up calls became a habit for me for some time.

It was the first time in a very long time that I had allowed that emotion to flow. But I sensed it would not be the last. Chapter 6 JUNGLES AND DESERTS August 1988 To an army helicopter pilot, the 160th Special Operations Aviation Regiment (Airborne) was the top of the food chain. Now, there was nothing wrong with being a medevac pilot. I had been doing it for quite a while and I enjoyed it. There was great job satisfaction, and if you got hooked on being a first responder, you could serve out your twenty years in units like the 377th Med and retire after a fine career. There were plenty of other good slots for army pilots as well. If you liked multiple-ship missions, ferrying infantry or flying gunship support for massive armor formations, then the 101st Airborne was also a fine place to be. If and when America went to war, and you were a good pilot performing any of these tasks, you could be pretty sure about having your number come up to deploy.


pages: 141 words: 46,879

River Out of Eden: A Darwinian View of Life by Richard Dawkins

double helix, Douglas Hofstadter, job satisfaction, Louis Pasteur, Menlo Park, out of africa, phenotype

Economic planners and social engineers are rather like architects and real engineers in that they strive to maximize something. Utilitarians strive to maximize "the greatest happiness for the greatest number" (a phrase that sounds more intelligent than it is, by the way). Under this umbrella, the utilitarian may give long-term stability more or less priority at the expense of short-term happiness, and utilitarians differ over whether they measure "happiness" by monetary wealth, job satisfaction, cultural fulfillment or personal relationships. Others avowedly maximize their own happiness at the expense of the common welfare, and they may dignify their egoism by a philosophy that states that general happiness will be maximized if one takes care of oneself. By watching the behavior of individuals throughout their lives, you should be able to reverseengineer their utility functions. If you reverse-engineer the behavior of a country's government, von may conclude that what is being maximized is employment and universal welfare.


pages: 170 words: 45,121

Don't Make Me Think, Revisited: A Common Sense Approach to Web Usability by Steve Krug

collective bargaining, game design, job satisfaction, Kickstarter, Lean Startup, Mark Zuckerberg, speech recognition, Steve Jobs

And for teams doing Agile or Lean development, there’s no time for written reports anyway. They pay me. Being a consultant, I get to work on interesting projects with a lot of nice, smart people. I get to work at home most of the time and I don’t have to sit in mind-numbing meetings every day or deal with office politics. I get to say what I think, and people usually appreciate it. And I get paid well. On top of all that, I get a lot of job satisfaction, because when we’re finished, the things they’re building are almost always much better than when we started.1 1 Almost always. Even when people know about usability problems, they can’t always fix them completely, as I’ll explain in Chapter 9. The bad news: You probably don’t have a usability professional Almost every development team could use somebody like me to help them build usability into their products.


The Rules of Work, Expanded Edition: A Definitive Code for Personal Success (The Rules by Richard Templar) by Richard Templar

double entry bookkeeping, hiring and firing, job satisfaction, supply-chain management

Yes, you may take advantage of others’ sleepiness or apathy or wrong attitude—that’s their problem. But you will take the moral high ground and be blameless. The right attitude is being good but quick, kind but observant, considerate but successful. YO U W I L L TA K E T H E MORAL HIGH GROUND AND B E B L A M E L E SS . W A L K Y O U R TA L K 23 RULE 11 Be Passionate but Don’t Kill Yourself I hope you’re very passionate about your job. Whether your job satisfaction comes from the people you work with, the sense of achievement, a deep belief in what you’re doing, the recognition you get, the money you earn, or anything else—I hope you get enough out of the job to feel very passionate about doing it. But don’t fall into the trap of thinking that if you’re passionate you have to work long hours and jump through countless hoops to prove it. Being passionate isn’t the same thing as staying late at the office.


pages: 161 words: 52,058

The Art of Corporate Success: The Story of Schlumberger by Ken Auletta

Albert Einstein, Bretton Woods, George Gilder, job satisfaction, offshore financial centre, oil shale / tar sands, oil shock, Ronald Reagan, the scientific method, union organizing

His work finished, Blake returned to his New Orleans apartment. Asked in a subsequent interview what he thought of his job, Blake said that when he graduated from Clarkson College two years ago he had never heard of “Schlumberger,” as he first called it. Now this native of Hudson Falls, New York, was earning $50,000 a year, not including a bonus, traveling all over the world on vacations, and getting job satisfaction that money alone can’t buy: “It really feels good that they put so much faith in you. I’ve been thinking of writing out a résumé if I ever wanted to leave the company, and there is no way I could make the same money. And no way I could put down on a résumé that I was responsible for the company making two to three million last year. It’s just phenomenal.” One better appreciates the need for decentralization, and the independent spirit it fosters, at places like Ras Gharib and Ras Shukhier—remote camps in the Egyptian desert.


pages: 667 words: 149,811

Economic Dignity by Gene Sperling

active measures, Affordable Care Act / Obamacare, autonomous vehicles, basic income, Bernie Sanders, Cass Sunstein, collective bargaining, corporate governance, David Brooks, desegregation, Detroit bankruptcy, Donald Trump, Double Irish / Dutch Sandwich, Elon Musk, employer provided health coverage, Erik Brynjolfsson, Ferguson, Missouri, full employment, gender pay gap, ghettoisation, gig economy, Gini coefficient, guest worker program, Gunnar Myrdal, housing crisis, income inequality, invisible hand, job automation, job satisfaction, labor-force participation, late fees, liberal world order, longitudinal study, low skilled workers, Lyft, Mark Zuckerberg, market fundamentalism, mass incarceration, mental accounting, meta analysis, meta-analysis, minimum wage unemployment, obamacare, offshore financial centre, payday loans, price discrimination, profit motive, race to the bottom, RAND corporation, randomized controlled trial, Richard Thaler, ride hailing / ride sharing, Ronald Reagan, Rosa Parks, Second Machine Age, secular stagnation, shareholder value, Silicon Valley, single-payer health, speech recognition, The Chicago School, The Future of Employment, The Wealth of Nations by Adam Smith, Toyota Production System, traffic fines, Triangle Shirtwaist Factory, Uber and Lyft, uber lyft, union organizing, universal basic income, War on Poverty, working poor, young professional, zero-sum game

When home care workers were integrated into the health-care delivery team for patients, the results were impressive: one cohort saw a 41 percent decline in the average rate of repeat ER visits and a 43 percent decline in the average rate of rehospitalizations by the second year after the training.64 According to the authors of the study, the savings from reduced repeat ER visits and rehospitalizations could be as high as $12,000 per patient.65 In New York City, a pilot demonstration created an opportunity for home care workers to obtain an advanced role in their profession, termed a Care Connections Senior Aide (CCSA), creating precisely the kind of professional, valued job that could be scaled. With an advanced title in the field, CCSAs received two hundred hours of training and coaching, were integrated into the health-care delivery team, and earned a salary 60 percent higher than the average for entry-level home care workers.66 The result: improved job satisfaction, improved relations with clients and communication with clinical managers, plus a decline in emergency department visits.67 I distinctly remember an on-the-ball caregiver who stayed overnight for my father, who was dealing with congestive heart failure. This person, still in college, had the training to spot a pattern in my father’s breathing that led her to wake him up and alert a nurse. It saved a several-day visit to the University of Michigan hospital that likely would have cost more than the full-year’s salary for most caregivers.

She and her coauthors interviewed twenty-eight janitorial staff at a hospital and found striking differences in how they defined the tasks and overall mission of their work. Some described their work as pure cleaning, involving few skills, and thus found their job unsatisfying. Yet others defined the range of their tasks and goals in ways that went far beyond the technical description and added higher meaning, skills, and job satisfaction. This latter group performed tasks outside their job description that created more meaning in their work. One janitor changed the paintings in the rooms of comatose patients, hoping that the change in visual stimulation might help the patients’ healing. Another worker took care to clean anything on the ceiling, where many patients lying in bed would look but the average healthy person would not.20 These workers saw themselves as part of the broader service mission of the organization itself, saying, “I’m an ambassador for the hospital,” and “I’m a healer.


pages: 285 words: 58,517

The Network Imperative: How to Survive and Grow in the Age of Digital Business Models by Barry Libert, Megan Beck

active measures, Airbnb, Amazon Web Services, asset allocation, autonomous vehicles, big data - Walmart - Pop Tarts, business intelligence, call centre, Clayton Christensen, cloud computing, commoditize, crowdsourcing, disintermediation, diversification, Douglas Engelbart, Douglas Engelbart, future of work, Google Glasses, Google X / Alphabet X, Infrastructure as a Service, intangible asset, Internet of things, invention of writing, inventory management, iterative process, Jeff Bezos, job satisfaction, Kevin Kelly, Kickstarter, late fees, Lyft, Mark Zuckerberg, Oculus Rift, pirate software, ride hailing / ride sharing, self-driving car, sharing economy, Silicon Valley, Silicon Valley startup, six sigma, software as a service, software patent, Steve Jobs, subscription business, TaskRabbit, Travis Kalanick, uber lyft, Wall-E, women in the workforce, Zipcar

The answer might be to let them go—and then bring them back as independent workers instead of as employees. Obviously that’s a bit tongue-in-cheek, but a recent study by IBM on independent workers, including contractors, freelancers, and consultants, found that these nonemployees were significantly more engaged than average workers, and nearly at the level of companies’ highest performers. On the dimensions of job satisfaction and pride, independent workers actually gave consistently higher ratings than high performers.3 In short, the relationship between organizations and their workers is changing. Increasingly, leaders see the benefit of what has been called the Hollywood model of employment. Taken from the way teams of specialized individuals come together to work on movie productions, the Hollywood model of employment is short-term, project-based work, where each individual is brought on with targeted expertise to fulfill a specific role.


Playing With FIRE (Financial Independence Retire Early): How Far Would You Go for Financial Freedom? by Scott Rieckens, Mr. Money Mustache

Airbnb, cryptocurrency, effective altruism, financial independence, index fund, job satisfaction, McMansion, passive income, remote working, Vanguard fund

See Above the Clouds FIRE retreat (Ibarra, Ecuador) income level: FIRE and, 6–7, 102–3; increasing, 189; keeping expenses less than, 126–29; “lifestyle creep” and, 9 Inconvenient Truth, An (documentary film; 2006), 78 index funds, 3, 19, 111–15, 128, 148, 189 inflation, 22, 41, 149 intention, 67, 70, 108, 121, 169 interest, compound, 115–16, 145 Internal Revenue Service (IRS), 129 internet, 50, 52, 119–20 Inventing to Nowhere (documentary film; 2014), 78 investments, 3, 99; author’s experience, 16; compound interest on, 115–16, 145; DCA for, 128; drawdown strategies for, 173; FIRE-approved, 111–16, 128; FIRE community literature on, 110–11; importance of, 127–29; market timing and, 128; retirement calculator using, 39–41; savings vs., 126; stock market crashes and, 41–42, 149; withdrawing income from, 21–22 Iowa. See Bellevue (IA) IRAs, 102, 129 Jacobsen, Jeremy, 25–26 Jared (author’s cousin), 137–38 Jensen, Carl, 125 job opportunities, 95 job satisfaction, 3 Joe (author’s friend), 29–30 Kitces, Michael, 163 “Latte Factor Calculator,” 56 leases, 82 lifestyle: FIRE as choice of, 125; homeownership and, 131; inflated, 103; paycheck-topaycheck, 127 “lifestyle creep,” 9 Longmont (CO), 106–8 lost-wages flaw, 149–50 “lottery mentality,” 13 low-cost living, 110 lunches, 56–57 Mad Fientist (blog), 25, 34, 109, 125; author’s attempts to persuade spouse using, 31; Kitces interview on, 163; Playing with FIRE documentary and, 78; popularity of, 26.


pages: 169 words: 56,250

Startup Communities: Building an Entrepreneurial Ecosystem in Your City by Brad Feld

barriers to entry, cleantech, cloud computing, corporate social responsibility, G4S, Grace Hopper, job satisfaction, Kickstarter, Lean Startup, minimum viable product, Network effects, paypal mafia, Peter Thiel, place-making, pre–internet, Richard Florida, Ruby on Rails, Silicon Valley, Silicon Valley startup, smart cities, software as a service, Steve Jobs, text mining, Y Combinator, zero-sum game, Zipcar

It has expanded greatly since then, now including an accelerator program (run by TechStars), international publicity for “Bizspark startups,” free hosting infrastructure via Azure, and deep access to key Microsoft product groups for startups that are building technologies that enhance the Microsoft ecosystem. Many large companies are standoffish to the startup community. They worry that if they engage, the startups they interact with will recruit their employees. Although this can happen, having the opportunity to interact with startups enhances the quality of the employee’s job. This often increases job satisfaction and long-term employee retention. THE IMPORTANCE OF BOTH LEADERS AND FEEDERS Startup communities need both leaders and feeders. The problem comes when the feeders try to lead or when there is an absence of leaders. If the startup community has a culture of inclusiveness, it will constantly have entrepreneurs step up into leadership positions. The existing leaders need to be welcoming of these new leaders or else the startup community will have the “patriarch problem,” which I’ll describe later.


pages: 202 words: 58,823

Willful: How We Choose What We Do by Richard Robb

activist fund / activist shareholder / activist investor, Alvin Roth, Asian financial crisis, asset-backed security, Bernie Madoff, capital asset pricing model, cognitive bias, collapse of Lehman Brothers, Daniel Kahneman / Amos Tversky, David Ricardo: comparative advantage, delayed gratification, diversification, diversified portfolio, effective altruism, endowment effect, Eratosthenes, experimental subject, family office, George Akerlof, index fund, information asymmetry, job satisfaction, John Maynard Keynes: Economic Possibilities for our Grandchildren, lake wobegon effect, loss aversion, market bubble, market clearing, money market fund, Pareto efficiency, Paul Samuelson, Peter Singer: altruism, principal–agent problem, profit maximization, profit motive, Richard Thaler, Silicon Valley, sovereign wealth fund, survivorship bias, the scientific method, The Wealth of Nations by Adam Smith, Thomas Malthus, Thorstein Veblen, transaction costs, ultimatum game

See also mercy ambiguity effect, 24 American Work-Sports (Zarnowski), 191 Anaximander, 190 anchoring, 168 angel investors, 212–213n1 “animal spirits,” 169 Antipater of Tarsus, 134–135, 137 “anxious vigilance,” 73, 82 arbitrage, 70, 78 Aristotle, 200, 220n24 Asian financial crisis (1997–1998), 13 asset-backed securities, 93–95 asset classes, 75 astrology, 67 asymmetric information, 96, 210n2 authenticity, 32–37, 114 of challenges, 176–179 autism, 58, 59 auto safety, 139 Bank of New York Mellon, 61 Battle of Waterloo, 71, 205 Bear Stearns, 85 Becker, Gary, 33, 108–109 behavioral economics, 4, 10, 198–199 assumptions underlying, 24 insights of, 24–25 rational choice complemented by, 6 Belgium, 191 beliefs: attachment to, 51 defined, 50 evidence inconsistent with, 54, 57–58 formation of, 53, 92 persistence of, 26–28, 54 transmissibility of, 92–93, 95–96 Bentham, Jeremy, 127, 197–198 “black swans,” 62–64 blame aversion, 57, 72 brain hemispheres, 161 Brexit, 181–185 “bull markets,” 78 capital asset pricing model, 64 care altruism, 38, 104, 108–114, 115, 120, 135, 201 Casablanca (film), 120, 125 The Cask of Amontillado (Poe), 126–127 challenges, 202–203 authenticity of, 176–179 staying in the game linked to, 179–181 changes of mind, 147–164 charity, 40, 45–46, 119, 128 choice: abundance of, 172–174 intertemporal, 149–158, 166 purposeful vs. rational, 22–23 Christofferson, Johan, 83, 86, 87, 88 Cicero, 133–134 Clark, John Bates, 167 cognitive bias, 6, 23, 51, 147–148, 167, 198–199 confirmation bias, 200 experimental evidence of, 10–11, 24 for-itself behavior disguised as, 200–201 gain-loss asymmetry, 10–11 hostile attribution bias, 59 hyperbolic discounting as, 158 lawn-mowing paradox and, 33–34 obstinacy linked to, 57 omission bias, 200 rational choice disguised as, 10–11, 33–34, 199–200 salience and, 29, 147 survivor bias, 180 zero risk bias, 24 Colbert, Claudette, 7 Columbia University, 17 commitment devices, 149–151 commodities, 80, 86, 89 commuting, 26, 38–39 competitiveness, 11, 31, 41, 149, 189 complementary skills, 71–72 compound interest, 79 confirmation bias, 57, 200 conspicuous consumption, 31 consumption planning, 151–159 contrarian strategy, 78 cooperation, 104, 105 coordination, 216n15 corner solutions, 214n8 cost-benefit analysis: disregard of, in military campaigns, 117 of human life, 138–143 credit risk, 11 crime, 208 Dai-Ichi Kangyo Bank (DKB), 12–14, 15, 17, 87, 192–193 Darwin, Charles, 62–63 depression, psychological, 62 de Waal, Frans, 118 Diogenes of Seleucia, 134–135, 137 discounting of the future, 10, 162–164 hyperbolic, 158, 201 disjunction effect, 174–176 diversification, 64–65 divestment, 65–66 Dostoevsky, Fyodor, 18 drowning husband problem, 6–7, 110, 116, 123–125 effective altruism, 110–112, 126, 130, 135–136 efficient market hypothesis, 69–74, 81–82, 96 Empire State Building, 211–212n12 endowment effect, 4 endowments, of universities, 74 entrepreneurism, 27, 90, 91–92 Eratosthenes, 190 ethics, 6, 104, 106–108, 116, 125 European Union, 181–182 experiential knowledge, 59–61 expert opinion, 27–28, 53, 54, 56–57 extreme unexpected events, 61–64 fairness, 108, 179 family offices, 94 Fear and Trembling (Kierkegaard), 53–54 “felicific calculus,” 197–198 financial crisis of 2007–2009, 61, 76, 85, 93–94, 95 firemen’s muster, 191 flow, and well-being, 201–202 Foot, Philippa, 133–134, 135 for-itself behavior, 6–7, 19, 21, 27, 36, 116, 133–134, 204–205, 207–208 acting in character as, 51–53, 55–56, 94–95, 203 acting out of character as, 69, 72 analyzing, 20 authenticity and, 33–35 charity as, 39–40, 45–46 comparison and ranking lacking from, 19, 24, 181 consequences of, 55–64 constituents of, 26–31 defined, 23–24 difficulty of modeling, 204 expert opinion and, 57 extreme unexpected events and, 63–64 flow of time and, 30 free choice linked to, 169–172 in groups, 91–100 incommensurability of, 140–143 in individual investing, 77–78 in institutional investing, 76 intertemporal choice and, 168, 175, 176 job satisfaction as, 189 mercy as, 114 misclassification of, 42, 44, 200–201 out-of-character trading as, 68–69 purposeful choice commingled with, 40–43, 129, 171 rationalizations for, 194–195 in trolley problem, 137 unemployment and, 186 France, 191 Fuji Bank, 14 futures, 80–81 gain-loss asymmetry, 10–11 Galperti, Simone, 217n1 gambler’s fallacy, 199 gamifying, 177 Garber, Peter, 212n1 Germany, 191 global equity, 75 Good Samaritan (biblical figure), 103, 129–130, 206 governance, of institutional investors, 74 Great Britain, 191 Great Depression, 94 Greek antiquity, 190 guilt, 127 habituation, 201 happiness research (positive psychology), 25–26, 201–202 Hayek, Friedrich, 61, 70 hedge funds, 15–17, 65, 75, 78–79, 93, 95 herd mentality, 96 heroism, 6–7, 19–20 hindsight effect, 199 holding, of investments, 79–80 home country bias, 64–65 Homer, 149 Homo ludens, 167–168 hostile attribution bias, 59 housing market, 94 Huizinga, Johan, 167–168 human life, valuation of, 138–143 Hume, David, 62, 209n5 hyperbolic discounting, 158, 201 illiquid markets, 74, 94 index funds, 75 individual investing, 76–82 Industrial Bank of Japan, 14 information asymmetry, 96, 210n2 innovation, 190 institutional investing, 74–76, 82, 93–95, 205 intergenerational transfers, 217n1, 218n4 interlocking utility, 108 intertemporal choice, 149–159, 166 investing: personal beliefs and, 52–53 in start-ups, 27 Joseph (biblical figure), 97–99 Kahneman, Daniel, 168 Kantianism, 135–136 Keynes, John Maynard, 12, 58, 167, 169, 188–189 Kierkegaard, Søren, 30, 53, 65, 88 Knight, Frank, 145, 187 Kranton, Rachel E., 210–211n2 labor supply, 185–189 Lake Wobegon effect, 4 lawn-mowing paradox, 33–34, 206 Lehman Brothers, 61, 86, 89, 184 leisure, 14, 17, 41, 154, 187 Libet, Benjamin, 161 life, valuation of, 138–143 Life of Alexander (Plutarch), 180–181 Locher, Roger, 117, 124 long-term vs. short-term planning, 148–149 loss aversion, 70, 199 lottery: as rational choice, 199–200 Winner’s Curse, 34–36 love altruism, 104, 116, 123–125, 126, 203 lying, vs. omitting, 134 Macbeth (Shakespeare), 63 MacFarquhar, Larissa, 214n6 Madoff, Bernard, 170 malevolence, 125–127 Malthus, Thomas, 212n2 manners, in social interactions, 104, 106, 107, 116, 125 market equilibrium, 33 Markowitz, Harry, 65 Marshall, Alfred, 41, 167 Mass Flourishing (Phelps), 189–191 materialism, 5 merchant’s choice, 133–134, 137–138 mercy, 104, 114–116, 203 examples of, 116–120 inexplicable, 45–46, 120–122 uniqueness of, 119, 129 mergers and acquisitions, 192 “money pump,” 159 monks’ parable, 114, 124 Montaigne, Michel de, 114, 118 mortgage-backed securities, 93 Nagel, Thomas, 161 Napoleon I, emperor of the French, 71 neoclassical economics, 8, 10, 11, 22, 33 Nietzsche, Friedrich, 21, 43, 209n5 norms, 104, 106–108, 123 Norway, 66 Nozick, Robert, 162 observed care altruism, 108–112 Odyssey (Homer), 149–150 omission bias, 200 On the Fourfold Root of the Principle of Sufficient Reason (Schopenhauer), 209n5 “on the spot” knowledge, 61, 70, 80, 94, 205 Orico, 13 overconfidence, 57, 200 “overearning,” 44–45 The Palm Beach Story (film), 7 The Paradox of Choice (Schwartz), 172 parenting, 108, 141, 170–171 Pareto efficiency, 132–133, 136, 139–140 Peirce, Charles Sanders, 53–54, 67, 94 pension funds, 66, 74–75, 93, 95 permanent income hypothesis, 179 Pharaoh (biblical figure), 97–99 Phelps, Edmund, 17, 189–191 Philip II, king of Macedonia, 181 planning, 149–151 for consumption, 154–157 long-term vs. short-term, 148–149 rational choice applied to, 152–158, 162 play, 44–45, 167, 202 pleasure-pain principle, 18 Plutarch, 180–181 Poe, Edgar Allan, 126 pollution, 132–133 Popeye the Sailor Man, 19 portfolio theory, 64–65 positive psychology (happiness research), 25–26, 201–202 preferences, 18–19, 198 aggregating, 38–39, 132, 164 altruism and, 28, 38, 45, 104, 110, 111, 116 in behavioral economics, 24, 168 beliefs’ feedback into, 51, 55 defined, 23 intransitive, 158–159 in purposeful behavior, 25, 36 risk aversion and, 51 stability of, 33, 115, 147, 207, 208 “time-inconsistent,” 158, 159, 166, 203 present value, 7, 139 principal-agent problem, 72 Principles of Economics (Marshall), 41 prisoner’s dilemma, 105 private equity, 75 procrastination, 3, 4, 19, 177–178 prospect theory, 168 protectionism, 185–187 Prussia, 191 public equities, 75 punishment, 109 purposeful choice, 22–26, 27, 34, 36, 56, 133–134, 204–205 altruism compatible with, 104, 113–114, 115–116 commensurability and, 153–154 as default rule, 43–46 expert opinion and, 57 extreme unexpected events and, 62–63 flow of time and, 30 for-itself behavior commingled with, 40–43, 129, 171 mechanistic quality of, 68 in merchant’s choice, 135, 137–138 Pareto efficiency linked to, 132 rational choice distinguished from, 22–23 regret linked to, 128 social relations linked to, 28 stable preferences linked to, 33 in trolley problem, 135–136 vaccination and, 58–59 wage increases and, 187.


pages: 898 words: 266,274

The Irrational Bundle by Dan Ariely

accounting loophole / creative accounting, air freight, Albert Einstein, Alvin Roth, assortative mating, banking crisis, Bernie Madoff, Black Swan, Broken windows theory, Burning Man, business process, cashless society, Cass Sunstein, clean water, cognitive dissonance, computer vision, corporate governance, credit crunch, Credit Default Swap, Daniel Kahneman / Amos Tversky, delayed gratification, Donald Trump, end world poverty, endowment effect, Exxon Valdez, first-price auction, Frederick Winslow Taylor, fudge factor, George Akerlof, Gordon Gekko, greed is good, happiness index / gross national happiness, hedonic treadmill, IKEA effect, Jean Tirole, job satisfaction, Kenneth Arrow, knowledge economy, knowledge worker, lake wobegon effect, late fees, loss aversion, Murray Gell-Mann, new economy, Peter Singer: altruism, placebo effect, price anchoring, Richard Feynman, Richard Thaler, Saturday Night Live, Schrödinger's Cat, second-price auction, Shai Danziger, shareholder value, Silicon Valley, Skype, software as a service, Steve Jobs, The Wealth of Nations by Adam Smith, The Wisdom of Crowds, ultimatum game, Upton Sinclair, Walter Mischel, young professional

A few months later we aren’t as annoyed by the color of the cabinets, but at the same time, we don’t derive as much pleasure from the handsome floors. This type of emotional leveling out—when initial positive and negative perceptions fade—is a process we call hedonic adaptation. Just as our eyes adjust to changes in light and environment, we can adapt to changes in expectation and experience. For example, Andrew Clark showed that job satisfaction among British workers was strongly correlated with changes in workers’ pay rather than the level of pay itself. In other words, people generally grow accustomed to their current pay level, however low or high. A raise is great and a pay cut is very upsetting, regardless of the actual amount of the base salary. In one of the earliest studies on hedonic adaptation, Philip Brickman, Dan Coates, and Ronnie Janoff-Bulman compared the overall life happiness among three groups: paraplegics, lottery winners, and normal people who were neither disabled nor particularly lucky.

A Accessory Transit Company, 154 acknowledging workers, 74–76, 80 acronyms, 120 adaptation, 157–90 assortative mating and, 191–212; see also assortative mating focusing attention on changes and, 159–60 hedonic, 160–84; see also hedonic adaptation nineteenth-century experiments on, 157–58 to pain, 160–67 physical, 157–60, 161n sensory perception and, 158–60 Aesop, 198–99 agriculture, obesity and technological developments in, 8 AIDS, 250, 251 airlines, customer service problems of, 142–43 alienation of labor, 79–80 American Cancer Society (ACS), 241–42, 249–50, 254 Andrade, Eduardo, 262, 265, 267–68, 299 anger, acting on, 257 author’s anecdote of, 258–61 driving and, 261 ultimatum game and, 268, 269–70, 273, 274, 276 animals: empathy for suffering of, 249 generalizing about human behavior from studies on, 63 working for food preferred by, 59–63 annoying experiences: breaking up, 177–79, 180 decisions far into future affected by, 262–64 annuities, 234 anterior insula, 266–67 anticipatory anxiety, 45 Anzio, Italy, battle of (1944), 167 apathy toward large tragedies, 238–39 drop-in-the-bucket effect and, 244–45, 252, 254–55 statistical condition and, 238–41, 242, 246, 247–49, 252–53 apologies, 149–51 for medical errors, 152 Apple, 120n battery replacement issue and, 141–42 art, homemade, 89–90 Asian tsunami, 250, 251 assembly line, 78–79 assortative mating, 191–212 altering aesthetic perception and (sour grapes theory), 198–99, 200, 201, 203 author’s injuries and, 191–96, 210–11 dinner party game and, 198 failure to adapt and, 200–201, 203–5 gender differences and, 209, 211 HOT or NOT study and, 201–5, 208, 211 reconsidering rank of attributes and, 199–200, 201, 205–10 speed-dating experiment and, 205–10 Atchison, Shane, 140–41, 146 attachment: to one’s own ideas, see Not-Invented-Here (NIH) bias to self-made goods, see IKEA effect attractiveness, assortative mating and, 191–212 see also assortative mating auctions, first-price vs. second-price, 98–99 Audi customer service, author’s experience with, 131–36, 137, 149, 153–54 experimental situation analogous to, 135–39 fictional case study for Harvard Business Review based on, 147–49 B bailout, public outrage felt in response to, 128–31 baking mixes, instant, 85–87 bankers: author’s presentation of research findings to, 107–9, 121 bonus experiments and, 38–41, 51 Frank’s address to, 41 public outrage in response to bailout and, 128–31 bankruptcy, 129, 130 Barkan, Racheli, 39, 109–10, 299 basketball, clutch players in, 39–41 beauty: assortative mating and, 196–212; see also assortative mating general agreement on standard of, 203 Becker-DeGroot-Marschak procedure, 91 Beecher, Henry, 167 behavioral economics: goal of, 9–10 human rationality not assumed in, 6–7 revenge as metaphor for, 124n Betty Crocker, 87 Bible, Gideon’s conversation with God in, 288–89 blindness, adaptation to, 172–74 blogging, 65 Blunder (Shore), 117 boiling-frog experiment, 157–58 bonuses, 17–52 bank executives’ responses to research on, 37–39 clutch abilities and, 39–41 for cognitive vs. mechanical tasks, 33–36, 40–41 creativity improvements and, 47–48 experiments testing effectiveness of, 21–36, 44–46 Frank’s remarks on, 41 intuitions about, 36–37 inverse-U relationship between performance and, 20–21, 47 loss aversion and, 32–33 optimizing efficacy of, 51–52 public rage over, 21 rational economists’ view of, 36–37 social pressure and, 44–46 surgery situation and, 48–49 viewed as standard part of compensation, 33 in wake of financial meltdown of 2008, 131 brain: judgments about experiences and, 228–29 punishment and, 126 breaks, in pleasant vs. painful experiences, 177–81 Brickman, Philip, 170 business, experimental approach to, 292–93 C cake mixes, instant, 85–87 California, moving to, 176 Call, Josep, 127 cancer, American Cancer Society fundraising and, 241–42, 249–50, 254 canoeing, romantic relationships and, 278–79 cars, 215–16 designing one’s own, 88, 89 division of labor in manufacture of, 78–79 in early days of automotive industry, 94 hedonic treadmill and, 175 see also driving cell phones, 7 in experiments on customer revenge, 135–39, 145–46, 150–51 see also texting CEOs, very high salaries and bonuses paid to, 21 Chance, Zoë, 220, 300 changes: ability to focus attention on, 159–60 decisions about life’s path and, 287 in future, foreseeing adaptation to, 160, 171–74 status quo bias and, 285, 286 in workers’ pay, job satisfaction and, 169–70 charities: American Cancer Society (ACS), 241–42, 249–50, 254 calculating vs. emotional priming and, 246–48 emotional appeals and, 240–42, 248–50, 253–54, 256 identifiable victim effect and, 239–42, 248, 256 charities (cont.) mismatching of money and need and, 250–51 motivating people to take action and, 252–56 Chat Circles, 225 cheating, 76 childbirth, pain of, 168, 169n children: in growing and preparing of food, 121 parents’ overvaluation of, 97–98 chimpanzees, sense of fairness in, 127 chores, taking breaks in, 177–79, 180 civil liberties, erosion of, 158 Clark, Andrew, 169 climate change, 251–52 closeness, empathy and, 243, 245, 254 clutch abilities, 39–41 CNN, 238 Coates, Dan, 170 cockroaches, social pressure in, 45–46 commercial breaks, enjoyment of television and, 181n comparisons, hedonic adaptation and, 189 compensation, 47 changes in, job satisfaction and, 169–70 see also bonuses completion: employees’ sense of, 77, 79–80 Loewenstein’s analysis of mountaineering and, 80–81 computers, 233 consumer purchases, 185–88 happiness derived from transient experiences vs., 187–88 hedonic treadmill and, 175 placing limits on, 186–87 reducing, 185–86 spacing of, 185, 186 contrafreeloading, 60–63 Jensen’s study of, 60–62, 63 standard economic view at odds with, 62–63 Converse, 95 cooking: children’s involvement in, 121 enjoyment factor and, 62n, 105–6 semi-preprepared food and, 85–88 CO2 emissions, 251–52 counting strategies, 282–83 Count of Monte Cristo, The (Dumas), 123 creation, pride of: ideas and, see Not-Invented-Here (NIH) bias self-made goods and, see IKEA effect creativity, bonuses and improvements in, 47–48 Csíkszentmihályi, Mihály, 49 cultures, organizational: acronyms and, 120 Not-Invented-Here bias and, 119–21 customer revenge, 131–51 against airlines, 142–43 apologies and, 149–51, 152 author’s experience with Audi customer service and, 131–36, 137, 147–49, 153–54 distinction between agents and principals and, 144–47 Farmer and Shane’s “Yours Is a Very Bad Hotel” and, 140–41, 146 fictional case study for Harvard Business Review on, 147–49 increase in, 143 Neistat brothers’ video on Apple’s customer service and, 141–42 passage of time and, 151 phone call interruption experiments on, 135–39, 145–46, 150–51 customization, 94–96 of cars, 88, 89, 94 effort expended in, 89, 95–96 overvaluation despite removing possibility of, 96 of shoes, 95, 96 D Dallaire, Roméo, 255 Darfur, 238, 253 Dart Ball game, 23, 34 Darwin, Charles, 157 dating, 191–235 market failures in, 213–15, 216–17, 220–21, 230–32, 233–35 playing hard to get and, 104 standard practice of, 224–25, 227–28 yentas (matchmakers) and, 213 see also assortative mating; online dating; speed dating decision making: author’s medical care and, 284–88 cooling off before, 257, 279 emotions and, 261–77 gender differences and, 274–76 irreversible decisions and, 285, 286 rationalization of choices in, 287 from rational perspective, 5–6 short-term, long-term decisions affected by, 264–65, 270–74, 276–77 stability of strategies for, 261–65; see also self-herding ultimatum game and, 265–70, 275–76 dentistry, adaptation to pain and, 161–62 design, taking people’s physical limitations into account in, 230–32 destroying work in front of workers, 74–76 Dichter, Ernest, 86 disease: adaptation to pain and, 165, 167 preventative health care and, 251, 256 “survivor” rhetoric and, 241–42 Disney, 154 distraction, performance-based incentives and, 30, 36 division of labor, 77–80 IT infrastructure and, 77, 79–80 Marx’s alienation notion and, 79 Smith’s observations on, 77–78 divorce, foreseeing outcome of, 173 Dodson, John, 18–20, 22, 31, 47 do-it-yourself projects, see IKEA effect Donath, Judith, 225 Dostoyevsky, Fyodor, 157 Doubletree Club, Houston, 140–41, 146 dreams, author’s self-image in, 182–83 DreamWorks SKG, 154 driving: momentary anger during, 261 safety precautions and, 6–7 texting during, 6, 7, 8 see also cars drop-in-the-bucket effect, 244–45, 252, 254–55 Dumas, Alexandre, 123 E Eastwick, Paul, 172–73 Edison, Thomas, 117–19, 122 effort: increase in value related to, 89, 90, 95–96, 105–6; see also IKEA effect joy derived from activity and, 71–72 meaningful work conditions and, 72 ownership of ideas and, 114–16 see also labor egg theory, 86–88 Eisner, Michael, 154 electric chair, 119 electricity, alternating current (AC) vs. direct current (DC), 117–19 emotional cascades, 265–78 gender differences and, 274–76 romantic relationships and, 277–78 ultimatum game and, 265–76 emotional priming: empathy for plight of others and, 246–48 ultimatum game and, 268–70 emotions, 43, 237–79 appeals to, willingness to help others and, 240–42, 248–50, 253–54, 256 decision making and, 261–77; see also decision making in past, humans’ poor memory of, 264 transience of, 257, 261, 270 see also empathy; negative feelings, acting on empathy: animals’ suffering and, 249, 252 apathy toward statistical victims and, 238–41, 242, 246, 247–49, 252–53 Baby Jessica saga and, 237–38 calculating vs. emotional priming and, 246–48 clear moral principles and, 255 closeness and, 243, 245, 254 drop-in-the-bucket effect and, 244–45, 252, 254–55 emotional appeals and, 240–42, 248–50, 253–54, 256 global warming and, 251–52 identifiable victim effect and, 239–42, 248, 256 overcoming barriers to, 252–56 rules to guide our behavior and, 254–55 thought experiment of drowning girl and, 242–43, 245 toward one person vs. many in need, 237–56 vividness and, 24, 243n, 244, 245 endowment effect, 285, 286 Enron, 216 evolution, mismatch between speed of technological development and, 8–9 experiments, 10–11, 288–95 business or public policy and, 292–94, 295 of Gideon, 288–89 medical practice and, 289–92 rational economists’ criticisms of, 49–51 see also specific topics Exxon Valdez oil spill, 249 F fairness, sense of: in chimpanzees, 127 decision making and, 266–67; see also ultimatum game gender differences and, 275–76 Fallows, James, 158 Farmer, Tom, 140–41, 146, 148–49 FedEx, 108–9 feedback, about work, 74–76 Feeks, John, 118–19 Fehr, Ernst, 125–26 financial incentives: meaning of labor and, 72–73, 76 see also bonuses financial markets, safety measures for, 7 financial meltdown of 2008, 7, 21, 216 chronology of events in, 129–30 desire for revenge in wake of, 128–31 lack of experimental approach to, 293 outraged public reaction to bailout in, 128–29, 130 Finkel, Eli, 172–73 First Knight, 50 fixation, pride in creation and ownership and, 89, 122 food: animals’ preference for working for, 59–63 semi-preprepared, 85–88 shortages of, identifiable victim effect and, 239–41 see also cooking Food and Drug Administration (FDA), 292 Ford, Henry, 78–79, 94 Forgea (white terrier), 249 Fox, Michael J., 254 “Fox and the Grapes, The” (Aesop), 198–99 Frank, Barney, 41 Frankl, Viktor, 45 free food, animals’ preference for working for food vs., 60–62 Frenk, Hanan, 161–65, 300 Friends, ultimatum game and, 269, 270–71, 272 frog experiment, 157–58 Frost, Jeana, 219–20, 229, 300 Fryer, Bronwyn, 148 furniture, do-it-yourself, 83–84, 96, 105, 106 future, foreseeing adaptation to changes in, 160, 171–74 G gardening: children growing food and, 121 enjoyment factor and, 105–6 gender differences: assortative mating and, 209, 211 decision making and, 274–76 pain threshold and tolerance and, 168–69 Gideon, 288–89 global warming, 158, 251–52 Gneezy, Ayelet, 135, 144–45, 150, 300–301 Gneezy, Uri, 21, 44, 301 Gore, Al, 158, 252 government policies, experimental approach to, 292–94, 295 H happiness: comparisons to other people and, 189 consumer purchases and, 175, 185–88 inaccurate predictions about, 170–71 return to baseline of, 170 transient vs. constant experiences and, 187–88 Harvard Business Review (HBR), 147–49 health care, see medical care hedonic adaptation, 160–84 to annoying experiences, 177–79, 180 author’s personal history and, 181–84, 189 blindness and, 172–74 breaking up experiences and, 177–81 changes in workers’ pay and, 169–70 comparisons to other people and, 189 consumer purchases and, 175, 185–88 extending pleasurable experiences and, 176–78, 179–81, 185, 186 in future, foreseeing of, 160, 171–74 happiness baseline and, 170 life-altering injuries and, 171–72, 174 moving to California and, 176 new houses and, 168–69 pain and, 160–67 romantic breakups and, 172–73 to transient vs. constant experiences, 187–88 using our understanding of, 176–81, 184–90 hedonic disruptions, 177–81 hedonic treadmill, 175 Heingartner, Alexander, 45–46 Henry, O., 98 herding, 262 see also self-herding Herman, Edward, 45–46 Hippocrates, 82 Hogerty, Megan, 81 homeostatic mechanisms, 81 Hong, James, 201, 203 HOT or NOT study, 201–5, 208 gender differences in, 209, 211 Meet Me feature and, 204–5, 208, 209 humor, sense of, 199, 200, 207, 208, 228 Hurricane Katrina, 250, 251 I ideas: attachment to, see Not-Invented-Here (NIH) bias idiosyncratic fit and, 111–12 identifiable victim effect, 239–42, 248, 256 American Cancer Society and, 241–42 identity, connection between work and, 53–55, 79 idiosyncratic fit, ideas and, 111–12 ignoring workers, 74–76 IKEA, 83–84, 106 IKEA effect, 83–106 author’s creations in rehabilitation center and, 100–101 completion of project and, 101–4, 105 do-it-yourself furniture and, 83–84, 96, 106 effort expended and, 89, 90, 95–96, 105–6 four principles in, 104–5 and lack of awareness of overvaluation, 99 Legos experiment and, 96, 97 Local Motors cars and, 88, 89 Not-Invented-Here (NIH) bias and, 109–10, 121 origami experiments and, 91–94, 97, 98–99, 102–4 parents’ overvaluation of their children and, 97–98 practical implications of, 121–22 relaxation notion and, 105–6 removal of individual customization and, 96 semi-preprepared food and, 85–88 shoe design and, 95, 96 immediate gratification, 5 Inconvenient Truth, An, 252 initiation into social groups, 89 injuries: association of pain with getting better after, 166–67 author’s dating prospects and, 191–96, 210–11 author’s decisions about his medical care and, 284–88 author’s personal history related to, 1–4, 13, 107, 160–62, 166–67, 181–84, 189, 191–96, 210–11, 281–88 battlefield vs. civilian, 167 foreseeing future after, 160 life-altering, adaptation to, 160, 171–72, 174 pain thresholds and tolerance related to severity of, 161–65 Institute for Evolutionary Anthropology, Leipzig, Germany, 126–27 insurance products, 233–34 interruptions: in pleasant vs. painful experiences, 177–81 TV commercials and, 181n see also phone call interruption experiments intuitions: bonuses and, 36–37 received medical wisdom and, 289–92 romantic, 172–73 testing of, 10n, 288–95 inverse-U relationship, defined, 19 iPods and iPhones, battery replacement in, 141–42 irrationality: summary of findings on, 288 upside as well as downside of, 11–12, 294 irreversible decisions, 285, 286 IT infrastructure, division and meaning of labor and, 77, 79–80 J Janoff-Bulman, Ronnie, 170 Jensen, Glen, 60–62, 63 Jensen, Keith, 127 Jewish tradition, 254–55 Johns Hopkins Bloomberg School of Public Health, Baltimore, 152 Joyless Economy, The (Scitovsky), 188 justice, see fairness, sense of K Kahneman, Danny, 32n, 175–76 Kamenica, Emir, 66, 301 Katzenberg, Jeffrey, 154 Kemmler, William, 119 kinship, empathy and, 243 Krishnamurti, Tamar, 172–73 Krzyzewski, Mike, 39 L labor: connection between identity and, 53–55, 79 contrafreeloading and, 60–63 economic model of, 55, 62–63, 105 financial incentives and, see bonuses meaning of, see meaning of labor overvaluation resulting from, see IKEA effect on projects without meaning, 56–57, 63–72 Labyrinth game, 23 Lee, Leonard, 132, 134, 197, 201–2, 301–2 Lee, Sandra, 87–88 leeches, medicinal use of, 290–91 Legos experiments: on IKEA effect, 96, 97 on reducing meaningfulness of work, 66–74, 77, 80 letter-pairs experiment, 74–76, 80 life-altering events, hedonic adaptation and, 170 Life as a House, ultimatum game and, 268, 269, 270, 272, 276 light, adaptation to changes in, 159 Local Motors, Inc., 88, 89 Loewenstein, George, 21, 44, 80–81, 172–73, 197, 201–2, 239–41, 246–48, 302 long-term objectives, short-term enjoyments vs., 4–5 loss aversion, 32–33, 285, 286 lottery winners, hedonic adaptation of, 170, 171 “Love the One You’re With,” 197, 211–12 M malaria, 250, 251 Man’s Search for Meaning (Frankl), 45 marketing, adaptation and, 158 market mechanisms, 215–16 dating and, 213–15, 216–17, 220–21, 230–32, 233–35 Marx, Karl, 79 massages, extending pleasure of, 179–80 matchmakers (yentas), 213 Mazar, Nina, 21, 30, 44, 302 McClure, Jessica (Baby Jessica), 237–38 meals, see cooking meaning of labor, 53–82 in acknowledged, ignored, and shredded conditions, 74–76 animals’ preference for working for food and, 59–63 blogging and, 65 division of labor and, 77–80 draining work of meaning and, 55–57, 63–77 financial incentives and, 72–73, 76 joy derived from activity and, 71–72 labor-identity connection and, 53–55, 79 Legos experiment and, 66–74, 76, 80 lessons for workplace on, 80–82 letter-pairs experiment and, 74–76, 80 “meaning” vs.

mismatching of money and need and, 250–51 motivating people to take action and, 252–56 Chat Circles, 225 cheating, 76 childbirth, pain of, 168, 169n children: in growing and preparing of food, 121 parents’ overvaluation of, 97–98 chimpanzees, sense of fairness in, 127 chores, taking breaks in, 177–79, 180 civil liberties, erosion of, 158 Clark, Andrew, 169 climate change, 251–52 closeness, empathy and, 243, 245, 254 clutch abilities, 39–41 CNN, 238 Coates, Dan, 170 cockroaches, social pressure in, 45–46 commercial breaks, enjoyment of television and, 181n comparisons, hedonic adaptation and, 189 compensation, 47 changes in, job satisfaction and, 169–70 see also bonuses completion: employees’ sense of, 77, 79–80 Loewenstein’s analysis of mountaineering and, 80–81 computers, 233 consumer purchases, 185–88 happiness derived from transient experiences vs., 187–88 hedonic treadmill and, 175 placing limits on, 186–87 reducing, 185–86 spacing of, 185, 186 contrafreeloading, 60–63 Jensen’s study of, 60–62, 63 standard economic view at odds with, 62–63 Converse, 95 cooking: children’s involvement in, 121 enjoyment factor and, 62n, 105–6 semi-preprepared food and, 85–88 CO2 emissions, 251–52 counting strategies, 282–83 Count of Monte Cristo, The (Dumas), 123 creation, pride of: ideas and, see Not-Invented-Here (NIH) bias self-made goods and, see IKEA effect creativity, bonuses and improvements in, 47–48 Csíkszentmihályi, Mihály, 49 cultures, organizational: acronyms and, 120 Not-Invented-Here bias and, 119–21 customer revenge, 131–51 against airlines, 142–43 apologies and, 149–51, 152 author’s experience with Audi customer service and, 131–36, 137, 147–49, 153–54 distinction between agents and principals and, 144–47 Farmer and Shane’s “Yours Is a Very Bad Hotel” and, 140–41, 146 fictional case study for Harvard Business Review on, 147–49 increase in, 143 Neistat brothers’ video on Apple’s customer service and, 141–42 passage of time and, 151 phone call interruption experiments on, 135–39, 145–46, 150–51 customization, 94–96 of cars, 88, 89, 94 effort expended in, 89, 95–96 overvaluation despite removing possibility of, 96 of shoes, 95, 96 D Dallaire, Roméo, 255 Darfur, 238, 253 Dart Ball game, 23, 34 Darwin, Charles, 157 dating, 191–235 market failures in, 213–15, 216–17, 220–21, 230–32, 233–35 playing hard to get and, 104 standard practice of, 224–25, 227–28 yentas (matchmakers) and, 213 see also assortative mating; online dating; speed dating decision making: author’s medical care and, 284–88 cooling off before, 257, 279 emotions and, 261–77 gender differences and, 274–76 irreversible decisions and, 285, 286 rationalization of choices in, 287 from rational perspective, 5–6 short-term, long-term decisions affected by, 264–65, 270–74, 276–77 stability of strategies for, 261–65; see also self-herding ultimatum game and, 265–70, 275–76 dentistry, adaptation to pain and, 161–62 design, taking people’s physical limitations into account in, 230–32 destroying work in front of workers, 74–76 Dichter, Ernest, 86 disease: adaptation to pain and, 165, 167 preventative health care and, 251, 256 “survivor” rhetoric and, 241–42 Disney, 154 distraction, performance-based incentives and, 30, 36 division of labor, 77–80 IT infrastructure and, 77, 79–80 Marx’s alienation notion and, 79 Smith’s observations on, 77–78 divorce, foreseeing outcome of, 173 Dodson, John, 18–20, 22, 31, 47 do-it-yourself projects, see IKEA effect Donath, Judith, 225 Dostoyevsky, Fyodor, 157 Doubletree Club, Houston, 140–41, 146 dreams, author’s self-image in, 182–83 DreamWorks SKG, 154 driving: momentary anger during, 261 safety precautions and, 6–7 texting during, 6, 7, 8 see also cars drop-in-the-bucket effect, 244–45, 252, 254–55 Dumas, Alexandre, 123 E Eastwick, Paul, 172–73 Edison, Thomas, 117–19, 122 effort: increase in value related to, 89, 90, 95–96, 105–6; see also IKEA effect joy derived from activity and, 71–72 meaningful work conditions and, 72 ownership of ideas and, 114–16 see also labor egg theory, 86–88 Eisner, Michael, 154 electric chair, 119 electricity, alternating current (AC) vs. direct current (DC), 117–19 emotional cascades, 265–78 gender differences and, 274–76 romantic relationships and, 277–78 ultimatum game and, 265–76 emotional priming: empathy for plight of others and, 246–48 ultimatum game and, 268–70 emotions, 43, 237–79 appeals to, willingness to help others and, 240–42, 248–50, 253–54, 256 decision making and, 261–77; see also decision making in past, humans’ poor memory of, 264 transience of, 257, 261, 270 see also empathy; negative feelings, acting on empathy: animals’ suffering and, 249, 252 apathy toward statistical victims and, 238–41, 242, 246, 247–49, 252–53 Baby Jessica saga and, 237–38 calculating vs. emotional priming and, 246–48 clear moral principles and, 255 closeness and, 243, 245, 254 drop-in-the-bucket effect and, 244–45, 252, 254–55 emotional appeals and, 240–42, 248–50, 253–54, 256 global warming and, 251–52 identifiable victim effect and, 239–42, 248, 256 overcoming barriers to, 252–56 rules to guide our behavior and, 254–55 thought experiment of drowning girl and, 242–43, 245 toward one person vs. many in need, 237–56 vividness and, 24, 243n, 244, 245 endowment effect, 285, 286 Enron, 216 evolution, mismatch between speed of technological development and, 8–9 experiments, 10–11, 288–95 business or public policy and, 292–94, 295 of Gideon, 288–89 medical practice and, 289–92 rational economists’ criticisms of, 49–51 see also specific topics Exxon Valdez oil spill, 249 F fairness, sense of: in chimpanzees, 127 decision making and, 266–67; see also ultimatum game gender differences and, 275–76 Fallows, James, 158 Farmer, Tom, 140–41, 146, 148–49 FedEx, 108–9 feedback, about work, 74–76 Feeks, John, 118–19 Fehr, Ernst, 125–26 financial incentives: meaning of labor and, 72–73, 76 see also bonuses financial markets, safety measures for, 7 financial meltdown of 2008, 7, 21, 216 chronology of events in, 129–30 desire for revenge in wake of, 128–31 lack of experimental approach to, 293 outraged public reaction to bailout in, 128–29, 130 Finkel, Eli, 172–73 First Knight, 50 fixation, pride in creation and ownership and, 89, 122 food: animals’ preference for working for, 59–63 semi-preprepared, 85–88 shortages of, identifiable victim effect and, 239–41 see also cooking Food and Drug Administration (FDA), 292 Ford, Henry, 78–79, 94 Forgea (white terrier), 249 Fox, Michael J., 254 “Fox and the Grapes, The” (Aesop), 198–99 Frank, Barney, 41 Frankl, Viktor, 45 free food, animals’ preference for working for food vs., 60–62 Frenk, Hanan, 161–65, 300 Friends, ultimatum game and, 269, 270–71, 272 frog experiment, 157–58 Frost, Jeana, 219–20, 229, 300 Fryer, Bronwyn, 148 furniture, do-it-yourself, 83–84, 96, 105, 106 future, foreseeing adaptation to changes in, 160, 171–74 G gardening: children growing food and, 121 enjoyment factor and, 105–6 gender differences: assortative mating and, 209, 211 decision making and, 274–76 pain threshold and tolerance and, 168–69 Gideon, 288–89 global warming, 158, 251–52 Gneezy, Ayelet, 135, 144–45, 150, 300–301 Gneezy, Uri, 21, 44, 301 Gore, Al, 158, 252 government policies, experimental approach to, 292–94, 295 H happiness: comparisons to other people and, 189 consumer purchases and, 175, 185–88 inaccurate predictions about, 170–71 return to baseline of, 170 transient vs. constant experiences and, 187–88 Harvard Business Review (HBR), 147–49 health care, see medical care hedonic adaptation, 160–84 to annoying experiences, 177–79, 180 author’s personal history and, 181–84, 189 blindness and, 172–74 breaking up experiences and, 177–81 changes in workers’ pay and, 169–70 comparisons to other people and, 189 consumer purchases and, 175, 185–88 extending pleasurable experiences and, 176–78, 179–81, 185, 186 in future, foreseeing of, 160, 171–74 happiness baseline and, 170 life-altering injuries and, 171–72, 174 moving to California and, 176 new houses and, 168–69 pain and, 160–67 romantic breakups and, 172–73 to transient vs. constant experiences, 187–88 using our understanding of, 176–81, 184–90 hedonic disruptions, 177–81 hedonic treadmill, 175 Heingartner, Alexander, 45–46 Henry, O., 98 herding, 262 see also self-herding Herman, Edward, 45–46 Hippocrates, 82 Hogerty, Megan, 81 homeostatic mechanisms, 81 Hong, James, 201, 203 HOT or NOT study, 201–5, 208 gender differences in, 209, 211 Meet Me feature and, 204–5, 208, 209 humor, sense of, 199, 200, 207, 208, 228 Hurricane Katrina, 250, 251 I ideas: attachment to, see Not-Invented-Here (NIH) bias idiosyncratic fit and, 111–12 identifiable victim effect, 239–42, 248, 256 American Cancer Society and, 241–42 identity, connection between work and, 53–55, 79 idiosyncratic fit, ideas and, 111–12 ignoring workers, 74–76 IKEA, 83–84, 106 IKEA effect, 83–106 author’s creations in rehabilitation center and, 100–101 completion of project and, 101–4, 105 do-it-yourself furniture and, 83–84, 96, 106 effort expended and, 89, 90, 95–96, 105–6 four principles in, 104–5 and lack of awareness of overvaluation, 99 Legos experiment and, 96, 97 Local Motors cars and, 88, 89 Not-Invented-Here (NIH) bias and, 109–10, 121 origami experiments and, 91–94, 97, 98–99, 102–4 parents’ overvaluation of their children and, 97–98 practical implications of, 121–22 relaxation notion and, 105–6 removal of individual customization and, 96 semi-preprepared food and, 85–88 shoe design and, 95, 96 immediate gratification, 5 Inconvenient Truth, An, 252 initiation into social groups, 89 injuries: association of pain with getting better after, 166–67 author’s dating prospects and, 191–96, 210–11 author’s decisions about his medical care and, 284–88 author’s personal history related to, 1–4, 13, 107, 160–62, 166–67, 181–84, 189, 191–96, 210–11, 281–88 battlefield vs. civilian, 167 foreseeing future after, 160 life-altering, adaptation to, 160, 171–72, 174 pain thresholds and tolerance related to severity of, 161–65 Institute for Evolutionary Anthropology, Leipzig, Germany, 126–27 insurance products, 233–34 interruptions: in pleasant vs. painful experiences, 177–81 TV commercials and, 181n see also phone call interruption experiments intuitions: bonuses and, 36–37 received medical wisdom and, 289–92 romantic, 172–73 testing of, 10n, 288–95 inverse-U relationship, defined, 19 iPods and iPhones, battery replacement in, 141–42 irrationality: summary of findings on, 288 upside as well as downside of, 11–12, 294 irreversible decisions, 285, 286 IT infrastructure, division and meaning of labor and, 77, 79–80 J Janoff-Bulman, Ronnie, 170 Jensen, Glen, 60–62, 63 Jensen, Keith, 127 Jewish tradition, 254–55 Johns Hopkins Bloomberg School of Public Health, Baltimore, 152 Joyless Economy, The (Scitovsky), 188 justice, see fairness, sense of K Kahneman, Danny, 32n, 175–76 Kamenica, Emir, 66, 301 Katzenberg, Jeffrey, 154 Kemmler, William, 119 kinship, empathy and, 243 Krishnamurti, Tamar, 172–73 Krzyzewski, Mike, 39 L labor: connection between identity and, 53–55, 79 contrafreeloading and, 60–63 economic model of, 55, 62–63, 105 financial incentives and, see bonuses meaning of, see meaning of labor overvaluation resulting from, see IKEA effect on projects without meaning, 56–57, 63–72 Labyrinth game, 23 Lee, Leonard, 132, 134, 197, 201–2, 301–2 Lee, Sandra, 87–88 leeches, medicinal use of, 290–91 Legos experiments: on IKEA effect, 96, 97 on reducing meaningfulness of work, 66–74, 77, 80 letter-pairs experiment, 74–76, 80 life-altering events, hedonic adaptation and, 170 Life as a House, ultimatum game and, 268, 269, 270, 272, 276 light, adaptation to changes in, 159 Local Motors, Inc., 88, 89 Loewenstein, George, 21, 44, 80–81, 172–73, 197, 201–2, 239–41, 246–48, 302 long-term objectives, short-term enjoyments vs., 4–5 loss aversion, 32–33, 285, 286 lottery winners, hedonic adaptation of, 170, 171 “Love the One You’re With,” 197, 211–12 M malaria, 250, 251 Man’s Search for Meaning (Frankl), 45 marketing, adaptation and, 158 market mechanisms, 215–16 dating and, 213–15, 216–17, 220–21, 230–32, 233–35 Marx, Karl, 79 massages, extending pleasure of, 179–80 matchmakers (yentas), 213 Mazar, Nina, 21, 30, 44, 302 McClure, Jessica (Baby Jessica), 237–38 meals, see cooking meaning of labor, 53–82 in acknowledged, ignored, and shredded conditions, 74–76 animals’ preference for working for food and, 59–63 blogging and, 65 division of labor and, 77–80 draining work of meaning and, 55–57, 63–77 financial incentives and, 72–73, 76 joy derived from activity and, 71–72 labor-identity connection and, 53–55, 79 Legos experiment and, 66–74, 76, 80 lessons for workplace on, 80–82 letter-pairs experiment and, 74–76, 80 “meaning” vs.


pages: 870 words: 259,362

Austerity Britain: 1945-51 by David Kynaston

Alistair Cooke, anti-communist, British Empire, Chelsea Manning, collective bargaining, continuous integration, deindustrialization, deskilling, Etonian, full employment, garden city movement, hiring and firing, industrial cluster, invisible hand, job satisfaction, labour mobility, light touch regulation, mass immigration, moral panic, Neil Kinnock, occupational segregation, price mechanism, rent control, reserve currency, road to serfdom, Ronald Reagan, shared worldview, stakhanovite, strikebreaker, the market place, upwardly mobile, urban planning, urban renewal, very high income, wage slave, washing machines reduced drudgery, wealth creators, women in the workforce, young professional

A worker who complained about a monotonous job was usually unhappy in his home life; most male jobs were not monotonous; and even if up to a third of the male working-class population did ‘dull, repetitive, and uninteresting jobs’, that did not mean that they were all bored stiff with them, given the twin observed facts of the sociability of the workplace and that ‘machines are often very interesting and many people like handling them.’ Yet as Zweig fully conceded, the question of job satisfaction depended on a range of variables, even within the same grade of the same industry in the same region: Cleanliness, the right temperature, good air, light, private lockers, good washing facilities, good canteens, the good repute of a firm, a genial atmosphere, friendly relations on the floor, fairness in dealing with the worker, a good foreman, and a good boss, may turn even a distasteful job into an attractive one.

An important shift, it can only be understood against the background of full employment and rising real wages. Even so, for the workforce as a whole, it did not alter the dominant priorities identified by Zweig. Early in 1953, Research Services Ltd, the organisation run by Mark Abrams, interviewed 1,079 people who worked for a living across the country. They were shown a list of ten possible job satisfactions – nearness to your home; friendly people to work with; good wages or earnings; security of employment; opportunity to use your own ideas; good holidays; opportunities to get on; adequate pension; good training facilities; reasonably short hours – and asked to name which three they considered most important. Good earnings (placed in 58 per cent of people’s top three) and security of employment (55 per cent) were easily the most popular, followed by friendly people to work with (39 per cent), while reasonably short hours and good training finished equal bottom at 8 per cent each.

Then the foreman would come and say, ‘Well, you’ve got to produce faster.’ But it just didn’t work out like that, because you felt you were working and sweating hard enough as it was . . . Over the years, observers of the industrial scene (such as Graham Turner) tended to find the factory and its environs a sullen, dispiriting sort of place. The work itself was so intensely narrow and repetitive that the concept of any intrinsic job satisfaction was unimaginable; a high proportion of the workforce, going back to the 1930s, were incomers to the area attracted solely by the material rewards of the work – men characterised by Turner as often ‘at odds with their particular situation or with society in general, the misfits, the dissatisfied and the restless’. As for Dagenham itself: The only relief amid the vistas of identical houses [almost entirely built by the London County Council between the wars] is the occasional mild rash of shops, garnishing the burial mounds thrown up to allow the District Line tube to pass beneath them.


pages: 292 words: 62,575

97 Things Every Programmer Should Know by Kevlin Henney

A Pattern Language, active measures, business intelligence, commoditize, continuous integration, crowdsourcing, database schema, deliberate practice, domain-specific language, don't repeat yourself, Donald Knuth, fixed income, general-purpose programming language, Grace Hopper, index card, inventory management, job satisfaction, loose coupling, Silicon Valley, sorting algorithm, The Wisdom of Crowds

Regardless of which approach you pick, thinking in states will make your code simpler and more robust. Chapter 85. Two Heads Are Often Better Than One Adrian Wible PROGRAMMING REQUIRES DEEP THOUGHT, and deep thought requires solitude. So goes the programmer stereotype. This "lone wolf" approach to programming has been giving way to a more collaborative approach, which, I would argue, improves quality, productivity, and job satisfaction for programmers. This approach has developers working more closely with one another and also with nondevelopers—business and systems analysts, quality assurance professionals, and users. What does this mean for developers? Being the expert technologist is no longer sufficient. You must become effective at working with others. Collaboration is not about asking and answering questions or sitting in meetings.


pages: 187 words: 62,861

The Penguin and the Leviathan: How Cooperation Triumphs Over Self-Interest by Yochai Benkler

business process, California gold rush, citizen journalism, Daniel Kahneman / Amos Tversky, East Village, Everything should be made as simple as possible, experimental economics, experimental subject, framing effect, informal economy, invisible hand, jimmy wales, job satisfaction, Joseph Schumpeter, Kenneth Arrow, knowledge economy, laissez-faire capitalism, loss aversion, Murray Gell-Mann, Nicholas Carr, peer-to-peer, prediction markets, Richard Stallman, Scientific racism, Silicon Valley, Steven Pinker, telemarketer, Toyota Production System, twin studies, ultimatum game, Washington Consensus, zero-sum game, Zipcar

The workforce was largely unchanged: 99 percent of the assembly line workers in the new workforce, and three quarters of the skilled workers, were UAW members who had worked at the original Fremont plant. Yet within two years the new plant had far surpassed any other GM plant in productivity and had the highest quality ratings of any automobile plant in the United States. Confidential employee surveys show that job satisfaction levels rose from 60 percent when the plant reopened in 1985 to more than 90 percent by the 1990s. The effects were lasting. Despite Toyota’s recent woes, for more than twenty-five years NUMMI continued to be one of the top plants in the United States in terms of productivity and product quality. As of 2010, it is slated to become the site of a new collaboration between Toyota and Tesla, to develop electric cars.


pages: 226 words: 60,652

The Prison Doctor by Dr Amanda Brown

job satisfaction

I had over a year to help Trudy wean herself off methadone and, combined with the counselling, there was every chance she could leave Bronzefield with no drugs in her system, and no desire to go back on them when she returned to society. It was my goal to make her dream become a reality. It was at that moment, that very second, that I realised I had reached my happy place. I had never had so much job satisfaction in all of my life. My journey to get there had been colourful, but I couldn’t have been more fulfilled. I felt and hoped that I was making a difference to these women’s lives, which gave me joy and a sense of purpose. And as long as I was needed, and I was making a difference, I would carry on working as doctor, as a counsellor and also, hopefully, as a friend to these women. There was a knock on my door.


pages: 585 words: 165,304

Trust: The Social Virtue and the Creation of Prosperity by Francis Fukuyama

barriers to entry, Berlin Wall, blue-collar work, business climate, business cycle, capital controls, collective bargaining, corporate governance, corporate raider, creative destruction, deindustrialization, Deng Xiaoping, deskilling, double entry bookkeeping, equal pay for equal work, European colonialism, Francis Fukuyama: the end of history, Frederick Winslow Taylor, full employment, George Gilder, glass ceiling, global village, Gunnar Myrdal, hiring and firing, industrial robot, Jane Jacobs, job satisfaction, joint-stock company, joint-stock limited liability company, Joseph Schumpeter, Kenneth Arrow, land reform, liberal capitalism, liberation theology, low skilled workers, manufacturing employment, mittelstand, price mechanism, profit maximization, RAND corporation, rent-seeking, Ronald Coase, Silicon Valley, Steve Jobs, Steve Wozniak, The Death and Life of Great American Cities, The Nature of the Firm, the scientific method, The Wealth of Nations by Adam Smith, transaction costs, transfer pricing, traveling salesman, union organizing

In this view, the Italian family firm combines unalienating small size, craft skills, and respect for family traditions with efficiency, technological sophistication, and other benefits usually associated with large scale. Robert Putnam portrays economic activity in these regions as the epitome of civic-minded cooperativeness, where business networks dovetail with local government to provide job satisfaction and prosperity for everyone.33 But is this network organization of small-scale firms the wave of the future, a New Age form of industrial organization that combines economies of scale with the intimacy of small workplaces and the reunion of ownership and management?34 It is certainly not the case that Italy has had to pay an economic price for the relatively small scale of its businesses.

One study that surveyed the views of workers in four countries found that skilled workers were concerned with having jobs that were intrinsically interesting or fulfilling, while unskilled workers were more interested in income. Many new entrants and low-skill workers, moreover, believed that having a factory job in the first place conferred significant social status. William H. Form, “Auto Workers and Their Machines: A Study of Work, Factory, and Job Satisfaction in Four Countries,” Social Forces 52 (1973): 1-15. 27On the Hawthorne experiments, see Hirszowicz (1982), pp. 52-54. 28See Elton Mayo, The Human Problems of an Industrial Civilization (New York: Macmillan, 1933), and The Social Problems of an Industrialized Civilization (London: Routledge and Kegan Paul, 1962). 29Ian Jamieson, “Some Observations on Socio-Cultural Explanations of Economic Behavior,” Sociological Review 26 (1978): 777-805.


Order Without Design: How Markets Shape Cities by Alain Bertaud

autonomous vehicles, call centre, colonial rule, congestion charging, creative destruction, cross-subsidies, Deng Xiaoping, discounted cash flows, Donald Trump, Edward Glaeser, en.wikipedia.org, extreme commuting, garden city movement, Google Earth, Jane Jacobs, job satisfaction, Joseph Schumpeter, land tenure, manufacturing employment, market design, market fragmentation, megacity, new economy, New Urbanism, openstreetmap, Pearl River Delta, price mechanism, rent control, Right to Buy, Ronald Coase, self-driving car, Silicon Valley, special economic zone, the built environment, trade route, transaction costs, transit-oriented development, trickle-down economics, urban planning, urban sprawl, zero-sum game

A firm that would be satisfied to restrict the selection of its employees to the vicinity of its factory or office would not need to locate in a large metropolis where rents and salaries are higher. This firm could locate in a small town where the unspecialized workers it seeks could be recruited for a lower salary. In the same way, a worker living in a large city and looking for a new job would try to maximize job satisfaction measured in part through salary, level of interest in the work and its compatibility with skillset, attractiveness of the work environment, and so forth. The time spent commuting might certainly be a consideration in seeking a job, but if the commuting time were less than 1 hour, it would likely not be a determining factor. The five satellite towns built around Seoul are an example of an attempt to implement the urban village concept.

These strategies reduce the income of the poor, for whom employment opportunities are reduced to jobs located within a narrow radius of their homes. Cities thrive on changes, possibilities, and innovations. Therefore, an urban transport system that would solely minimize travel time between home and current jobs for all workers would result in poor mobility, as in the future, workers might not be able to reach many alternative jobs that would improve their job satisfaction or salary. Mobility and Recent Immigrants During a recent visit to the Tenement Museum in New York, a docent told us that in the 1850s, immigrants who were “fresh off the boat” would typically stay only a few months in a tenement; they would then keep moving as their employment and financial circumstances changed. A typical length of stay in the same tenement would be about 6–8 months. My wife and I then looked at each other, remembering that this was exactly what we did when—in January 1968—we were also “fresh off the boat” in New York.


pages: 626 words: 167,836

The Technology Trap: Capital, Labor, and Power in the Age of Automation by Carl Benedikt Frey

"Robert Solow", 3D printing, autonomous vehicles, basic income, Bernie Sanders, Branko Milanovic, British Empire, business cycle, business process, call centre, Capital in the Twenty-First Century by Thomas Piketty, Clayton Christensen, collective bargaining, computer age, computer vision, Corn Laws, creative destruction, David Graeber, David Ricardo: comparative advantage, deindustrialization, demographic transition, desegregation, deskilling, Donald Trump, easy for humans, difficult for computers, Edward Glaeser, Elon Musk, Erik Brynjolfsson, everywhere but in the productivity statistics, factory automation, falling living standards, first square of the chessboard / second half of the chessboard, Ford paid five dollars a day, Frank Levy and Richard Murnane: The New Division of Labor, full employment, future of work, game design, Gini coefficient, Hyperloop, income inequality, income per capita, industrial cluster, industrial robot, intangible asset, interchangeable parts, Internet of things, invention of agriculture, invention of movable type, invention of the steam engine, invention of the wheel, Isaac Newton, James Hargreaves, James Watt: steam engine, job automation, job satisfaction, job-hopping, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, Joseph Schumpeter, Kickstarter, knowledge economy, knowledge worker, labor-force participation, labour mobility, Loebner Prize, low skilled workers, Malcom McLean invented shipping containers, manufacturing employment, mass immigration, means of production, Menlo Park, minimum wage unemployment, natural language processing, new economy, New Urbanism, Norbert Wiener, oil shock, On the Economy of Machinery and Manufactures, Pareto efficiency, pattern recognition, pink-collar, Productivity paradox, profit maximization, Renaissance Technologies, rent-seeking, rising living standards, Robert Gordon, robot derives from the Czech word robota Czech, meaning slave, Second Machine Age, secular stagnation, self-driving car, Silicon Valley, Simon Kuznets, social intelligence, speech recognition, spinning jenny, Stephen Hawking, The Future of Employment, The Rise and Fall of American Growth, The Wealth of Nations by Adam Smith, Thomas Malthus, total factor productivity, trade route, Triangle Shirtwaist Factory, Turing test, union organizing, universal basic income, washing machines reduced drudgery, wealth creators, women in the workforce, working poor, zero-sum game

To that end, Faunce, a sociologist, investigated how people fared as they were transferred to an automated automobile-engine plant in 1958.41 He found that workers overwhelmingly preferred the automated factories to the old ones, primarily due to the reduction in the handling of heavy materials, which made their jobs less physically demanding. But attitudes toward mechanization were not always favorable from the onset. In a study of an automated steel mill, Charles Walker found that job satisfaction varied significantly throughout the process of adjustment: “The same job characteristics, all stemming from the automatic or semiautomatic operations of the mill which had at first been feared and hated, were later the source of satisfaction.”42 Once the new became the familiar, attitudes shifted. Thus, in a review of the literature, Faunce and coauthors aptly summarize the matter as follows: Field research suggests that the impact of office automation upon job satisfaction varies depending on … whether the employees are in electronic data-processing departments which gain work tasks or in other affected departments that lose tasks, whether the computer is of large or medium size, and on several other circumstances.


pages: 189 words: 64,571

The Cheapskate Next Door: The Surprising Secrets of Americans Living Happily Below Their Means by Jeff Yeager

asset allocation, carbon footprint, delayed gratification, dumpster diving, index card, job satisfaction, late fees, mortgage debt, new economy, payday loans, Skype, upwardly mobile, Zipcar

In response to the question “On a scale of one to ten, with one being I hate it all the time and ten being I love it all the time, how would you describe your feeling about your current job/occupation?,” more than two-thirds of the cheapskates polled responded with seven or higher. At the same time, nearly 40 percent of all respondents said that they are dissatisfied with the amount of money they currently earn, although they frequently commented that their dissatisfaction with a lower salary was more than compensated for by increased job satisfaction. These cheapskates often have careers in the nonprofit sector or are “selfishly employed.” I defined “selfish employment” in my first book as “having the financial security to pursue your interests and passions as employment without undue risk or concern over income.” As a selfishly employed individual myself, when people ask me what I do for a living, I usually reply, “I just do my own thing, and sometimes somebody pays me money because of it.”


pages: 233 words: 67,596

Competing on Analytics: The New Science of Winning by Thomas H. Davenport, Jeanne G. Harris

always be closing, big data - Walmart - Pop Tarts, business intelligence, business process, call centre, commoditize, data acquisition, digital map, en.wikipedia.org, global supply chain, high net worth, if you build it, they will come, intangible asset, inventory management, iterative process, Jeff Bezos, job satisfaction, knapsack problem, late fees, linear programming, Moneyball by Michael Lewis explains big data, Netflix Prize, new economy, performance metric, personalized medicine, quantitative hedge fund, quantitative trading / quantitative finance, recommendation engine, RFID, search inside the book, shareholder value, six sigma, statistical model, supply-chain management, text mining, the scientific method, traveling salesman, yield management

In stage 4, many organizations realign their analysts and information workers to place them in assignments that are better suited to their skills. As a company becomes more serious about enterprise-wide analytics, it often draws together the most advanced analysts into a single group to focus on strategic issues. This provides the organization with a critical mass of analysts to focus on the most strategic issues, and provides the analysts with greater job satisfaction and opportunity to develop their skills. Once an organization has an outstanding analytical capability combined with strategically differentiating analytics embedded into its most critical business processes and has achieved major improvements to its business performance and competitiveness, it has reached the final stage. ConsumerCo: Everything but “Fire in the Belly” At a large consumer products company, analytical competition is at stage 4.


pages: 247 words: 63,208

The Open Organization: Igniting Passion and Performance by Jim Whitehurst

Airbnb, cloud computing, crowdsourcing, en.wikipedia.org, Google Hangouts, Infrastructure as a Service, job satisfaction, market design, Network effects, new economy, place-making, platform as a service, post-materialism, profit motive, risk tolerance, shareholder value, side project, Silicon Valley, Skype, Snapchat, Steve Jobs, subscription business, The Wisdom of Crowds, Tony Hsieh

Most people at Red Hat are passionate about open source, but that doesn’t mean they are automatically engaged with the company and buy into the ways we are working to achieve our purpose. The leadership team and I must ensure that happens. Many executives with whom I speak also confuse engagement with happiness or employee morale. Engagement isn’t about being happy. Happy people may or may not be engaged in the business. According to Sue Moynihan, a director on the People team at Red Hat, companies tend to confuse “job satisfaction” levels among their associates with engagement. So rather than ask associates about how they feel about their compensation or benefits package—which are more closely tied to satisfaction—Moynihan’s team measures associate engagement levels by tracking how many people react affirmatively to statements such as: The people I work with are passionate about Red Hat’s mission. Associates at Red Hat take accountability for their work.


Cartesian Linguistics by Noam Chomsky

job satisfaction, speech recognition, Steven Pinker, theory of mind, Turing test

Assuming, furthermore, the empirical principle that organisms thrive (get satisfaction) when they fulfill their natures and the moral/ethical principle that they should be given opportunities to do so, it is reasonable to assume that a form of social organization giving them these opportunities is better than one that does not. There is plenty of evidence that people thrive when they exercise their freedom and autonomy – for instance, job satisfaction is a good predictor of longer life, and correlates strongly with exercise of autonomy and self-expression. The moral principle seems to be as obvious as any can be. It might justifiably be overridden in certain cases – for example, where there is genuine reason to think that survival is at stake – but no one except for moral monsters will simply deny the principle. It should, in any case, certainly constitute a fundamental principle of the ideal form of social organization.


pages: 218 words: 70,323

Critical: Science and Stories From the Brink of Human Life by Matt Morgan

agricultural Revolution, Atul Gawande, biofilm, Black Swan, Checklist Manifesto, cognitive dissonance, crew resource management, Daniel Kahneman / Amos Tversky, David Strachan, discovery of penicillin, en.wikipedia.org, hygiene hypothesis, job satisfaction, John Snow's cholera map, meta analysis, meta-analysis, personalized medicine, publication bias, randomized controlled trial, Silicon Valley, stem cell, Steve Jobs

Yet, the impact of an extra intensive care nurse is far easier to quantify than that same nurse working on a medical trial that will result in better care for countless future patients. If you take part in a clinical trial, you are more likely to survive even if you only receive the placebo. If you are treated in a hospital that does research, you too are more likely to live than to die. The environments that nurture good research are also more likely to have good communication between staff, fewer vacancies and higher job satisfaction. Bringing the heads of different hospital experts together in a collaborative way can stop them from banging together in conflict. Washing hands and teaching others form core parts of working in a hospital. So too should research. It is the scaffolding onto which we can safely climb to search for better ways to help patients. Research may be the most effective pill we have. Yet there remains a tension between money spent on research and that spent on ‘frontline’ healthcare, public awareness campaigns and quality-improvement measures.


pages: 218 words: 68,648

Confessions of a Crypto Millionaire: My Unlikely Escape From Corporate America by Dan Conway

Affordable Care Act / Obamacare, Airbnb, bank run, basic income, bitcoin, blockchain, buy and hold, cloud computing, cognitive dissonance, corporate governance, crowdsourcing, cryptocurrency, disruptive innovation, distributed ledger, double entry bookkeeping, Ethereum, ethereum blockchain, fault tolerance, financial independence, gig economy, Gordon Gekko, Haight Ashbury, high net worth, job satisfaction, litecoin, Marc Andreessen, Mitch Kapor, obamacare, offshore financial centre, Ponzi scheme, prediction markets, rent control, reserve currency, Ronald Coase, Satoshi Nakamoto, Silicon Valley, smart contracts, Steve Jobs, supercomputer in your pocket, Turing complete, Uber for X, universal basic income, upwardly mobile

That’s not what they signed up for. Of course, it’s not always that bad for everyone. But the stats show that for many of us, it is. According to a 2016 Society for Human Resource Management study, fewer than one-third of employees are very satisfied with the teamwork at their companies. We’ve become so used to the misery of modern work that we accept it like a sliver deep in our heel. Despite low levels of job satisfaction, most economists would say the firm remains the best way to organize humans for work. Which reminds me of what Winston Churchill said about modern government: “Democracy is the worst form of government, except for all of the others.” The same could have been said of the modern firm. Until it wasn’t. While I was struggling to master the corporate world, which had always eluded me, a young genius named Vitalik Buterin was creating Ethereum.


pages: 733 words: 179,391

Adaptive Markets: Financial Evolution at the Speed of Thought by Andrew W. Lo

"Robert Solow", Albert Einstein, Alfred Russel Wallace, algorithmic trading, Andrei Shleifer, Arthur Eddington, Asian financial crisis, asset allocation, asset-backed security, backtesting, bank run, barriers to entry, Berlin Wall, Bernie Madoff, bitcoin, Bonfire of the Vanities, bonus culture, break the buck, Brownian motion, business cycle, business process, butterfly effect, buy and hold, capital asset pricing model, Captain Sullenberger Hudson, Carmen Reinhart, collapse of Lehman Brothers, collateralized debt obligation, commoditize, computerized trading, corporate governance, creative destruction, Credit Default Swap, credit default swaps / collateralized debt obligations, cryptocurrency, Daniel Kahneman / Amos Tversky, delayed gratification, Diane Coyle, diversification, diversified portfolio, double helix, easy for humans, difficult for computers, Ernest Rutherford, Eugene Fama: efficient market hypothesis, experimental economics, experimental subject, Fall of the Berlin Wall, financial deregulation, financial innovation, financial intermediation, fixed income, Flash crash, Fractional reserve banking, framing effect, Gordon Gekko, greed is good, Hans Rosling, Henri Poincaré, high net worth, housing crisis, incomplete markets, index fund, interest rate derivative, invention of the telegraph, Isaac Newton, James Watt: steam engine, job satisfaction, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Meriwether, Joseph Schumpeter, Kenneth Rogoff, London Interbank Offered Rate, Long Term Capital Management, longitudinal study, loss aversion, Louis Pasteur, mandelbrot fractal, margin call, Mark Zuckerberg, market fundamentalism, martingale, merger arbitrage, meta analysis, meta-analysis, Milgram experiment, money market fund, moral hazard, Myron Scholes, Nick Leeson, old-boy network, out of africa, p-value, paper trading, passive investing, Paul Lévy, Paul Samuelson, Ponzi scheme, predatory finance, prediction markets, price discovery process, profit maximization, profit motive, quantitative hedge fund, quantitative trading / quantitative finance, RAND corporation, random walk, randomized controlled trial, Renaissance Technologies, Richard Feynman, Richard Feynman: Challenger O-ring, risk tolerance, Robert Shiller, Robert Shiller, Sam Peltzman, Shai Danziger, short selling, sovereign wealth fund, Stanford marshmallow experiment, Stanford prison experiment, statistical arbitrage, Steven Pinker, stochastic process, stocks for the long run, survivorship bias, Thales and the olive presses, The Great Moderation, the scientific method, The Wealth of Nations by Adam Smith, The Wisdom of Crowds, theory of mind, Thomas Malthus, Thorstein Veblen, Tobin tax, too big to fail, transaction costs, Triangle Shirtwaist Factory, ultimatum game, Upton Sinclair, US Airways Flight 1549, Walter Mischel, Watson beat the top human players on Jeopardy!, WikiLeaks, Yogi Berra, zero-sum game

It may be years before finance has a “quant psych” revolution. 390 • Chapter 11 Without reasonably accurate numbers, behavioral risk management is more aspirational than operational. Financial risk management has an enormous analytic base, up to and including million-dollar soft ware platforms and real-time data vendors. There’s nothing comparable to support behavioral risk managers . . . yet. Psychological profiles, social network maps, and job satisfaction surveys are currently assigned to human resources departments, not risk committees or corporate boards. Nevertheless, the starting point for any scientific endeavor is always measurement. While quantitative behavioral risk models are under construction, the Adaptive Markets Hypothesis suggests one thing we can do in the meantime: develop an integrated view of the corporate ecosystem. We can learn a great deal about behavioral risks qualitatively by documenting the reward structure for individuals within an organization.

GAO (2013). 36. Ibid., 33–38. 37. Ibid., 11. 38. Ibid., 16–17. 39. SEC (2014, 132). These changes seem to be having an impact. The SEC’s score on the Office of Personnel Management’s Global Satisfaction Index—based on the same survey cited in the GAO’s quoted report—improved from 59 in 2012 to 65 in 2014 (Office of Personnel Management, 2014). For comparison, in 2014 the agency with the highest job satisfaction rating was the National Aeronautics and Space Administration (an index value of 74), the agency with the lowest rating was the Department of Homeland Security (an index value of 48), and the governmentwide index value was 59. 40. Cohn, Fehr, and Maréchal (2014). 41. Ibid., 86. 42. Gibson, Tanner, and Wagner (2016). 43. Dyck, Morse, and Zingales (2013). 44. Deason, Rajgopal, and Waymire (2015). 45.


pages: 265 words: 74,000

The Numerati by Stephen Baker

Berlin Wall, Black Swan, business process, call centre, correlation does not imply causation, Drosophila, full employment, illegal immigration, index card, Isaac Newton, job automation, job satisfaction, McMansion, Myron Scholes, natural language processing, PageRank, personalized medicine, recommendation engine, RFID, Silicon Valley, Skype, statistical model, Watson beat the top human players on Jeopardy!

He didn't end up going, and instead, in IBM's scheme, he remained "on the bench." Takriti smiles. "That's what we call it," he says. "I think the term comes from sports." The question, of course, is how long IBM wants to have that high-priced talent sitting on the bench. If there isn't any work to justify his immense talents, shouldn't they put him on something else, just to keep him busy? Not necessarily, says Takriti. Job satisfaction is one of his system's constraints. If workers get angry or bored to tears, their productivity is bound to plummet. The automatic manager keeps this in mind (in a manner of speaking). As you might expect, it deals very gently with superstars. Since they make lots of money for the company during short bursts of activity, they get plenty of time on the bench. But grunt workers in this hierarchy get far less consideration.


pages: 270 words: 75,473

Time Management for System Administrators by Thomas A.Limoncelli

8-hour work day, Albert Einstein, business cycle, Debian, job satisfaction, Kickstarter, Mahatma Gandhi, Steve Jobs

So-and-so isn't getting a good raise this year." Managing Your Boss Many people think that management is a one-way street. I disagree. Management is a relationship, and you share influence in how the relationship evolves. It is difficult to get anything done, or to have a satisfying career, if you do not have a good relationship with your manager. Alternatively, with a good relationship you can get more done, have increased job satisfaction, and accelerate your career. If you do a web search for "manage your boss," you will find many excellent articles. This is a sign that many people feel the need to have a better relationship with their boss. Schedule some time to read a few of them. I think the three most important keys to managing your boss are to use him to help advance your career, to know when to use upward delegation , and to understand and contribute to his goals.


pages: 306 words: 78,893

After the New Economy: The Binge . . . And the Hangover That Won't Go Away by Doug Henwood

"Robert Solow", accounting loophole / creative accounting, affirmative action, Asian financial crisis, barriers to entry, borderless world, Branko Milanovic, Bretton Woods, business cycle, capital controls, corporate governance, corporate raider, correlation coefficient, credit crunch, deindustrialization, dematerialisation, deskilling, ending welfare as we know it, feminist movement, full employment, gender pay gap, George Gilder, glass ceiling, Gordon Gekko, greed is good, half of the world's population has never made a phone call, income inequality, indoor plumbing, intangible asset, Internet Archive, job satisfaction, joint-stock company, Kevin Kelly, labor-force participation, liquidationism / Banker’s doctrine / the Treasury view, manufacturing employment, means of production, minimum wage unemployment, Naomi Klein, new economy, occupational segregation, pets.com, post-work, profit maximization, purchasing power parity, race to the bottom, Ralph Nader, Robert Gordon, Robert Shiller, Robert Shiller, Ronald Reagan, shareholder value, Silicon Valley, Simon Kuznets, statistical model, structural adjustment programs, Telecommunications Act of 1996, telemarketer, The Bell Curve by Richard Herrnstein and Charles Murray, The Wealth of Nations by Adam Smith, total factor productivity, union organizing, War on Poverty, women in the workforce, working poor, zero-sum game

BoysWill Be Boys: Gender, Overconfidence,and Common Stock Investment," Quarterly Journal of Economics, October, pp. 261-292 (also at <faculty.gsm.ucdavis.edu/ ~bmbarber/BoysWillBeBoys.pdf>). Barko, Naomi (2000). "The Other Gender Gap," The American Prospect, June 19-July 3, pp. 61-63 <www.prospect.oi^/archives/Vl l-15/barko-n.html>. Barrington, Linda (2000). Does a Rising Tide Lift All Boats? (New York: The Conference Board). Bateman, Thomas S., and Dennis W. Organ (1983). "Job Satisfaction and the Good Soldier: The Rebtionship Between Affect and Employee 'Citizenship,"Mai</emy of Management Journal 26, pp. 587-95. Baudrillard,Jean (1993). The Tranparency of Evil, translated by James Benedict (New York and London: Verso). Bayard, Kimberly, Judith Hellentein, David Neumark, and Kenneth Troske (1999). "New Evidence on Sex Segregation and Sex Differences in Wages from Matched Employee-Employer Data," National Bureau of Economic Research Working Paper 7003, March <wwAv.nber.org/papers/w7003>.


pages: 241 words: 75,516

The Paradox of Choice: Why More Is Less by Barry Schwartz

accounting loophole / creative accounting, attribution theory, Atul Gawande, availability heuristic, Cass Sunstein, Daniel Kahneman / Amos Tversky, endowment effect, framing effect, hedonic treadmill, income per capita, job satisfaction, loss aversion, medical residency, mental accounting, Own Your Own Home, Pareto efficiency, positional goods, price anchoring, psychological pricing, RAND corporation, Richard Thaler, science of happiness, The Wealth of Nations by Adam Smith

McCullough, “Counting Blessings Versus Burdens: An Experimental Investigation of Gratitude and Subjective Well-Being,” Journal of Personality and Social Psychology, 2003, 84, 377–389. Chapter 9 Comparisons are R.E. Lane discusses the relative nature of evaluation in The Loss of Happiness in Market Democracies (New Haven, CT: Yale University Press, 2000). Michalos found that A. Michalos, “Job Satisfaction, Marital Satisfaction, and the Quality of Life,” in F.M. Andrews (ed.), Research on the Quality of Life (Ann Arbor, MI: Institute for Social Research, 1986), p. 75. What the theory claims The classic paper on framing is D. Kahneman and A. Tversky, “Choices, Values, and Frames,” American Psychologist, 1984, 39, 341–350. Many other examples are collected in D. Kahneman and A. Tversky (eds.), Choices, Values, and Frames (New York: Cambridge University Press, 2000).


pages: 361 words: 76,849

The Year Without Pants: Wordpress.com and the Future of Work by Scott Berkun

barriers to entry, blue-collar work, Broken windows theory, en.wikipedia.org, Firefox, future of work, Google Hangouts, Jane Jacobs, job satisfaction, Lean Startup, lone genius, Mark Zuckerberg, minimum viable product, post-work, remote working, Results Only Work Environment, Richard Stallman, Seaside, Florida, side project, Silicon Valley, six sigma, Skype, stealth mode startup, Steve Jobs, The Death and Life of Great American Cities, the map is not the territory, Tony Hsieh, trade route, zero-sum game

See Team Social meet-up (Athens, Greece) Automattic: acquisition offer for; atmosphere of constant change at; attitude toward safeguards at; author hired at; board of directors meeting; continued growth and success of; creativity not infringed upon by support at; as data-influenced company; description of headquarters in San Francisco; distinction between WordPress, WordPress.com, and; employees split into teams; founding and early history of; hiring procedure; long-term view at; marketing by; minimal friction at; problem management at; promoted free expression; returning meaning to work; view of big projects at; work flow at; work location irrelevant to Automattic culture Automatticians: background and skills of; collaboration tools used by; commonly moving between projects; compensation of; defined; description of, at work; job satisfaction of; new, adjusting to working remotely; quality assurance responsibility of; self-sufficiency and passion of; turnover rate for; work location of B b2 Bachhuber, Daniel Bachiyski, Nikolay Baeta, Hugo: about; acclimated to Automattic way of working; joined Team Social; at Lisbon team meet-up; at Portland meet-up; reworked NASCAR feature Bar-Cohen, Raanan Basecamp Belfiore, Joe Berkun, Scott: about; arrival in Athens for team meet-up; assets and liabilities of, at Automattic; assigned to Team Post Postmodernism at Budapest company meeting; “Big Talk” to team by; e-mailed observations about company to Mullenweg; exit from Automattic; gave presentations on leading Team Social; hired at Automattic; lack of safety measures in India experienced by; on managing programmers without having programming skills; at Microsoft; monitoring of customer support work by; and P2s; in San Francisco headquarters for face-to-face interactions; at Seaside company meeting; training work in customer support; use of WordPress by; at work; work on Highlander; work on Hovercards project; on working remotely vs. face-to-face interactions Bernal, Jorge Bigelow, Sheri Bikeshed problem Black, Phillip Blacksmith Capital Blogger (software) Blogs: features to decrease abandonment of Bluehost Boren, Ryan Broken window theory Bubel, Anthony Budapest.


pages: 278 words: 70,416

Smartcuts: How Hackers, Innovators, and Icons Accelerate Success by Shane Snow

3D printing, Airbnb, Albert Einstein, attribution theory, augmented reality, barriers to entry, conceptual framework, correlation does not imply causation, David Heinemeier Hansson, deliberate practice, disruptive innovation, Elon Musk, Fellow of the Royal Society, Filter Bubble, Google X / Alphabet X, hive mind, index card, index fund, Isaac Newton, job satisfaction, Khan Academy, Kickstarter, lateral thinking, Law of Accelerating Returns, Lean Startup, Mahatma Gandhi, meta analysis, meta-analysis, pattern recognition, Peter Thiel, popular electronics, Ray Kurzweil, Richard Florida, Ronald Reagan, Ruby on Rails, Saturday Night Live, self-driving car, side project, Silicon Valley, Steve Jobs, superconnector

The mentorship study data conflicted, it turned out, because of the difference between structured mentoring programs, which were less effective, and mentorship that happened organically. In fact, one-on-one mentoring in which an organization formally matched people proved to be nearly as worthless as a person having not been mentored at all. However, when students and mentors came together on their own and formed personal relationships, the mentored did significantly better, as measured by future income, tenure, number of promotions, job satisfaction, work stress, and self-esteem. This is why Sheryl Sandberg, the COO of Facebook and the author of Lean In, dedicates a chapter in her book to this concept, arguing that asking someone to formally mentor you is like asking a celebrity for an autograph; it’s stiff, inorganic, and often doesn’t work out. “Searching for a mentor has become the professional equivalent of waiting for Prince Charming,” she writes.


pages: 215 words: 76,414

In Stitches by Nick Edwards

deskilling, job satisfaction, old-boy network

To bring in this mind-set of changes of managing acute medical patients would require doctors of different specialties (A&E, Acute Medics and ‘General Medics’) to work together and trust each other. People then need to realise that what is important is how well the patient is being treated and not which particular specialty the doctor seeing them works for. I hope that these changes get brought in and that I can just get on with my job–looking after sick patients who have not had to endure long waits to see me. I don’t want to have to move to Australia to get job satisfaction. I want things to change over here. P.S. Mum, if you are reading this, don’t worry, I wouldn’t really move to Australia–I’ll stay here and just rant after work instead. Sad request for a MAP The computer showed that the next patient was ‘requesting MAP’. The medical student shadowing me believed me when I told him that as we were becoming a ‘foundation hospital’, one of our hospital’s money-making mechanisms was giving out directions to lost people.


pages: 293 words: 78,439

Dual Transformation: How to Reposition Today's Business While Creating the Future by Scott D. Anthony, Mark W. Johnson

activist fund / activist shareholder / activist investor, additive manufacturing, Affordable Care Act / Obamacare, Airbnb, Amazon Web Services, autonomous vehicles, barriers to entry, Ben Horowitz, blockchain, business process, business process outsourcing, call centre, Clayton Christensen, cloud computing, commoditize, corporate governance, creative destruction, crowdsourcing, death of newspapers, disintermediation, disruptive innovation, distributed ledger, diversified portfolio, Internet of things, invention of hypertext, inventory management, Jeff Bezos, job automation, job satisfaction, Joseph Schumpeter, Kickstarter, late fees, Lean Startup, Lyft, M-Pesa, Marc Andreessen, Mark Zuckerberg, Minecraft, obamacare, Parag Khanna, Paul Graham, peer-to-peer lending, pez dispenser, recommendation engine, self-driving car, shareholder value, side project, Silicon Valley, Skype, software as a service, software is eating the world, Steve Jobs, the market place, the scientific method, Thomas Kuhn: the structure of scientific revolutions, transfer pricing, uber lyft, Watson beat the top human players on Jeopardy!, Y Combinator, Zipcar

Typically, pharmacists focused on behind-the-scenes tasks of processing paperwork, dealing with insurance, and dispensing drugs. With the help of Innosight and IDEO, a leading design company, Walgreens removed barriers between pharmacists and patients by creating semiprivate spaces to facilitate direct discussion. Patients received better treatment, leading to a higher number of repeat visits, and the pharmacists’ job satisfaction went up. Transformation B involved transforming Walgreens stores into the front line of defense for the beleaguered US health care industry. What does Walgreens have that few other companies have? More than eight thousand stores, where people come to fill prescriptions and buy other sundry items. That physical infrastructure could also be used to address simple, everyday conditions that clog up primary care offices, such as strep throat, flu shots, and ear infections.


pages: 287 words: 80,180

Blue Ocean Strategy, Expanded Edition: How to Create Uncontested Market Space and Make the Competition Irrelevant by W. Chan Kim, Renée A. Mauborgne

Asian financial crisis, borderless world, call centre, cloud computing, commoditize, creative destruction, disruptive innovation, endogenous growth, haute couture, index fund, information asymmetry, interchangeable parts, job satisfaction, Joseph Schumpeter, Kickstarter, knowledge economy, market fundamentalism, NetJets, Network effects, RAND corporation, Skype, telemarketer, The Wealth of Nations by Adam Smith, There's no reason for any individual to have a computer in his home - Ken Olsen, Thomas Kuhn: the structure of scientific revolutions, Vanguard fund, zero-sum game

Yet in less than two years and without an increase in his budget, Bratton turned New York City into the safest large city in the United States. He broke out of the red ocean with a blue ocean policing strategy that revolutionized US policing as it was then known. The organization won as “profits” jumped: felony crime fell 39 percent, murders 50 percent, and theft 35 percent. “Customers” won: Gallup polls reported that public confidence in the NYPD leaped from 37 percent to 73 percent. And employees won: internal surveys showed job satisfaction in the NYPD reaching an all-time high. As one patrolman put it, “We would have marched to hell and back for that guy.” Perhaps most impressively, the changes have outlasted its leader, with crime rates continuing to fall after the leader’s departure, implying a fundamental shift in the organizational culture and strategy of the NYPD. While the current environmental and political circumstances the NYPD faces differ greatly from then, Bill Bratton was reappointed police commissioner of New York in 2014.


pages: 264 words: 76,643

The Growth Delusion: Wealth, Poverty, and the Well-Being of Nations by David Pilling

Airbnb, banking crisis, Bernie Sanders, Big bang: deregulation of the City of London, Branko Milanovic, call centre, centre right, clean water, collapse of Lehman Brothers, collateralized debt obligation, commoditize, Credit Default Swap, credit default swaps / collateralized debt obligations, dark matter, Deng Xiaoping, Diane Coyle, Donald Trump, double entry bookkeeping, Erik Brynjolfsson, falling living standards, financial deregulation, financial intermediation, financial repression, Gini coefficient, Goldman Sachs: Vampire Squid, Google Hangouts, Hans Rosling, happiness index / gross national happiness, income inequality, income per capita, informal economy, invisible hand, job satisfaction, Mahatma Gandhi, market fundamentalism, Martin Wolf, means of production, Monkeys Reject Unequal Pay, mortgage debt, off grid, old-boy network, Panopticon Jeremy Bentham, peak oil, performance metric, pez dispenser, profit motive, purchasing power parity, race to the bottom, rent-seeking, Robert Gordon, Ronald Reagan, Rory Sutherland, science of happiness, shareholder value, sharing economy, Simon Kuznets, sovereign wealth fund, The Great Moderation, The Wealth of Nations by Adam Smith, Thomas Malthus, total factor productivity, transaction costs, transfer pricing, trickle-down economics, urban sprawl, women in the workforce, World Values Survey

“The 30 Most Insane Things for Sale in Skymall,” Buzzfeed, July 10, 2013: www.buzzfeed.com. 6. Joseph Stiglitz, The Price of Inequality, W. W. Norton & Company, 2012, p. xii. 7. Sarah F. Brosnan and Frans B. M. de Waal, “Monkeys Reject Unequal Pay,” Nature, Vol. 425, September 2003. 8. David Card, Alexandre Mas, Enrico Moretti, and Emmanuel Saez, “Inequality at Work: The Effect of Peer Salaries on Job Satisfaction,” November 2011: www.princeton.edu. 9. “The Cost of Living in Jane Austen’s England”: www.janeausten.co.uk. 10. Joseph Stiglitz, Amartya Sen, and Jean-Paul Fitoussi, Mismeasuring Our Lives: Why GDP Doesn’t Add Up, The New Press, 2010, p. ix. 11. Walter Berglund, the lawyer and environmentalist in Jonathan Franzen’s novel Freedom, expresses similar ideas. 12. In nominal terms Japan’s economy hardly budged from 1990 to 2017.


pages: 224 words: 74,599

Confessions of a Surgeon: The Good, the Bad, and the Complicated...Life Behind the O.R. Doors by Paul A. Ruggieri

fear of failure, job satisfaction, medical malpractice, medical residency

“Start with rising malpractice insurance rates, fatigue from living under the threat of potential lawsuits, decreasing reimbursements, increased government regulation, and losing whatever autonomy I have left.” I continued to methodically cut through scar tissue, untwisting intestine while thinking about breakfast. There is something erotic about eating two eggs over easy, sausage, home fries, and toast after staying up all night. The American College of Surgeons Committee on Physician Competency and Health surveyed close to eight thousand surgeons about their job satisfaction and mental state. The results revealed that 40 percent of those who answered the survey met the criteria for “burnout.” The publishers of the study attributed this burnout to increased working hours, being on call, and the job’s effect on home life. In addition, some studies have suggested burnout to be predictive of future mistakes made by surgeons. It is intuitive, really: Burned-out surgeons have a greater potential to make more mistakes in the operating room.


pages: 280 words: 71,268

Measure What Matters: How Google, Bono, and the Gates Foundation Rock the World With OKRs by John Doerr

Albert Einstein, Bob Noyce, cloud computing, collaborative editing, commoditize, crowdsourcing, Firefox, Frederick Winslow Taylor, Google Chrome, Google Earth, Google X / Alphabet X, Haight Ashbury, Jeff Bezos, job satisfaction, Khan Academy, knowledge worker, Menlo Park, meta analysis, meta-analysis, PageRank, Paul Buchheit, Ray Kurzweil, risk tolerance, self-driving car, side project, Silicon Valley, Silicon Valley startup, Skype, Steve Jobs, Steven Levy, subscription business, web application, Yogi Berra, éminence grise

According to Deloitte, the management and leadership consulting firm, issues of “ retention and engagement have risen to No. 2 in the minds of business leaders, second only to the challenge of building global leadership.” But exactly how do you build engagement? A two-year Deloitte study found that no single factor has more impact than “ clearly defined goals that are written down and shared freely. . . . Goals create alignment, clarity, and job satisfaction.” Goal setting isn’t bulletproof: “ When people have conflicting priorities or unclear, meaningless, or arbitrarily shifting goals, they become frustrated, cynical, and demotivated.” An effective goal management system—an OKR system—links goals to a team’s broader mission. It respects targets and deadlines while adapting to circumstances. It promotes feedback and celebrates wins, large and small.


pages: 263 words: 78,433

What Doctors Feel: How Emotions Affect the Practice of Medicine by Danielle Ofri

affirmative action, delayed gratification, facts on the ground, job satisfaction, lateral thinking, longitudinal study, medical malpractice, medical residency, RAND corporation

Some have wondered whether these quality measures actually reduce motivation to improve.19 Selecting out narrow data points to measure may work well for assembly-line type work, but it can be counterproductive for complex tasks that involve deliberation, decision-making, judgment, communication, and creativity.20 Focusing on the minutiae—even if those are individually important measurements—can undermine a person’s desire and ability to improve. (Offering more control over one’s work environment and improving overall job satisfaction seems to do a better job.) My own experience in being evaluated for “quality” left me with that same horrible feeling about being judged. Our hospital had undertaken a laudable and Herculean effort to improve the care of patients with diabetes. There was no disagreement that diabetes was one of the most complicated diseases we faced and that these patients would benefit from the best medical care possible.


pages: 716 words: 192,143

The Enlightened Capitalists by James O'Toole

activist fund / activist shareholder / activist investor, anti-communist, Ayatollah Khomeini, Bernie Madoff, British Empire, business cycle, business process, California gold rush, carbon footprint, City Beautiful movement, collective bargaining, corporate governance, corporate social responsibility, Credit Default Swap, crowdsourcing, cryptocurrency, desegregation, Donald Trump, double entry bookkeeping, end world poverty, equal pay for equal work, Frederick Winslow Taylor, full employment, garden city movement, germ theory of disease, glass ceiling, God and Mammon, greed is good, hiring and firing, income inequality, indoor plumbing, inventory management, invisible hand, James Hargreaves, job satisfaction, joint-stock company, Kickstarter, knowledge worker, Lao Tzu, longitudinal study, Louis Pasteur, Lyft, means of production, Menlo Park, North Sea oil, passive investing, Ponzi scheme, profit maximization, profit motive, Ralph Waldo Emerson, rolodex, Ronald Reagan, shareholder value, Silicon Valley, Social Responsibility of Business Is to Increase Its Profits, Socratic dialogue, sovereign wealth fund, spinning jenny, Steve Jobs, Steve Wozniak, stocks for the long run, stocks for the long term, The Fortune at the Bottom of the Pyramid, The Wealth of Nations by Adam Smith, Tim Cook: Apple, traveling salesman, Uber and Lyft, uber lyft, union organizing, Vanguard fund, white flight, women in the workforce, young professional

He explains that people want, and need, something more fulfilling in life than just leisure and consumption: “They desire to participate in a community in which they can interact and develop.” Indeed, most research about work and life satisfaction conducted over the last half century highlights the needs people have to achieve mastery at work, to exercise initiative and creativity, and to learn and develop not only as workers but as human beings.3 Phelps hypothesizes that the observed declines in productivity and job satisfaction in America are due to “a critical loss of indigenous innovation in the established industries like traditional manufacturing and services that was not nearly offset by the innovation that flowered in a few new industries—digital, media, and financial. In the vast heartland of America, the loss of dynamism is almost palpable.”4 But not all good jobs have been, or are being, lost. As Phelps points out, the best new jobs in America are being created in Silicon Valley.

Union Carbide, 173 United Airlines, 290–91, 411–12 United Auto Workers, 108 United Garment Workers of America (UGWA), 181 United Kingdom (UK) bathing habits and Lever, 51, 53 Bolton, 52, 56–57, 64 Brexit, 446 “British disease,” 215 changes to economic order proposed, xv chief executive salaries in, 469 child labor in, 22, 23 chocolate makers, 84 contingent workforces and virtual workplaces in, 474–75, 477 cooperative movement, 29, 415, 417, 418 corporate capitalism and profit primacy in, 438 effect of industrialization in, 4 eighteenth century working conditions, 8 exporting cloth, 4–5 finance and banking, public concern about misbehavior in, 467 Financial Reporting Council, 462 gender pay inequity and, 469 global warming concerns and enlightened business practices, 432 history of textile mills in, 3–4 John Lewis Partnership among largest retail chains, 120 labor unrest (1960s), 129 Manchester, 5, 6, 8–10, 11, 208 Marks & Spencer as dominant retailer, 211 middle class growth in, 432 no demand for socially responsible companies, 427 old-age pensions law, 59 social entrepreneurship and, 456 socialized medicine, 212 Stewardship Code, 462 tabloids, 61 welfare-state and, 129 See also Lewis, John Spedan; Lever, William; Owen, Robert; Roddick, Anita United States contingent workforces and virtual workplaces in, 473–75, 477 corporate capitalism and profit primacy in, 438 declines in productivity and job satisfaction, 476 Dodd-Frank legislation, 462 finance and banking, public concern about misbehavior in, 467 first stock exchanges, 47 Gilded Age, 31 global warming concerns and enlightened business practices, 432 large manufacturing facilities encouraged by Hamilton, 3–4 largest retail business, 41 middle class growth in, 432 new cooperatives in, 419 no demand for socially responsible companies, 427 public disclosure of top executive compensation required, 469 rioting in 1877 against capitalist practices, 31 social entrepreneurship and, 456 tax legislation prohibiting industrial foundations, 434–35 See also specific companies Universal Pictures, 473, 474 University of California Berkeley, 194 Hass School of Business, 182 Levi Strauss scholarships, 178, 182 “unmanagement,” 298–99, 304 UPS, 409–10 Up the Organization (Townsend), 279–80, 283, 285, 286, 287 US Steel, xxx, 249, 265 utilitarianism, 21, 27 utopian communities Google Alphabet’s Quayside, 450–51 Hershey and, 79 Owen’s New Harmony, 27–28, 44 Owen’s “villages of co-operation,” 26 Penney’s Penney Farms, 44–45 See also living conditions of workers Vagelos, Roy, 334–41, 427, 428, 436, 477 accomplishments, 341 background and personal life, 335 cure for river blindness and, 335–38, 339 decision to sell vaccine patent to China, 338 legacy of, 340–41 Merck and ethical business practices, 335–39 Merck retirement, 338–39 opposition to giving away Mectizan, 337 philanthropy of, 341 Regeneron Pharmaceuticals and, 341 Vanderbuilt, Cornelius, xxxiii Vandevelde, Luc, 221 Vanguard investment fund, xiv, 461 Victoria, Queen, 20 Vogel, David, 308, 429 “Two and a Half Cheers for Conscious Capitalism,” 454, 455–56 Volkswagen, 173, 429 Waddock, Sandra, 373–74 wages ACIPCO and, 138, 139 Avis and, 281 Ben & Jerry’s and, 384 British textile mills, 5 Carnegie’s philosophy on paying the minimum, xxxiii executive-employee wage gap, 469–72 Ford’s $5 a day, xxviii, 20, 113 Herman Miller and, 228–29, 232, 234 “iron law” of, 21 J&J and, 149–50, 157 labor costs vs. total labor costs and, 290–91 Levi Strauss and, 190 Lincoln Electric, 94–95, 98, 99–101 link between compensation and perception of fairness, 471 living wages, 85, 138, 139, 150, 154, 157, 401 Nucor, average yearly, 276 Owen’s philosophy and, 20, 21 Patagonia and, 401 proven methods of equitable compensation, 472 Scanlon plan, 228–29, 234, 472 SWA and, 290–91 well-paid workers and productivity, 157, 290–91 W.


Rethinking Money: How New Currencies Turn Scarcity Into Prosperity by Bernard Lietaer, Jacqui Dunne

3D printing, agricultural Revolution, Albert Einstein, Asian financial crisis, banking crisis, Berlin Wall, BRICs, business climate, business cycle, business process, butterfly effect, carbon footprint, Carmen Reinhart, clockwork universe, collapse of Lehman Brothers, complexity theory, conceptual framework, credit crunch, different worldview, discounted cash flows, en.wikipedia.org, Fall of the Berlin Wall, fear of failure, fiat currency, financial innovation, Fractional reserve banking, full employment, German hyperinflation, happiness index / gross national happiness, job satisfaction, liberation theology, Marshall McLuhan, microcredit, mobile money, money: store of value / unit of account / medium of exchange, more computing power than Apollo, new economy, Occupy movement, price stability, reserve currency, Silicon Valley, the payments system, too big to fail, transaction costs, trickle-down economics, urban decay, War on Poverty, working poor

Graduates in the United Kingdom, for example, can anticipate 70 applications for one job opening and have been told to flip burgers rather than counting on attaining positions commensurate with their educations, leaving them with no means of addressing their liabilities.14 Nobel laureate Paul Krugman writes: “In particular, these days, workers with a college degree, but no further degrees, are less likely to get workplace health coverage than workers with only a high school degree were in 1979.”15 These days, job satisfaction means having any gainful employment. Money is the most powerful secular force. Financial issues affect all economic classes, from the rich to the poor. Empathy for the plight of those who suffer from scarcity comes easier. The damage created by poverty and want is pervasive, devastating, and easy to understand. Yet the levels of competition and struggle indelibly linked to money propagate through all levels of society.


pages: 307 words: 82,680

A Pelican Introduction: Basic Income by Guy Standing

bank run, basic income, Bernie Sanders, Bertrand Russell: In Praise of Idleness, Black Swan, Boris Johnson, British Empire, centre right, collective bargaining, cryptocurrency, David Graeber, declining real wages, deindustrialization, Donald Trump, Elon Musk, Fellow of the Royal Society, financial intermediation, full employment, future of work, gig economy, Gunnar Myrdal, housing crisis, hydraulic fracturing, income inequality, intangible asset, job automation, job satisfaction, Joi Ito, labour market flexibility, land value tax, libertarian paternalism, low skilled workers, lump of labour, Mark Zuckerberg, Martin Wolf, mass immigration, mass incarceration, moral hazard, Nelson Mandela, offshore financial centre, open economy, Panopticon Jeremy Bentham, Paul Samuelson, plutocrats, Plutocrats, precariat, quantitative easing, randomized controlled trial, rent control, rent-seeking, Sam Altman, self-driving car, shareholder value, sharing economy, Silicon Valley, sovereign wealth fund, Stephen Hawking, The Future of Employment, universal basic income, Wolfgang Streeck, women in the workforce, working poor, Y Combinator, Zipcar

And in a series of studies that asked people what they would do if they won the lottery, a clear majority said they would go on working but not necessarily in their present jobs.13 Whether they preferred to continue what they were doing depended, not surprisingly, on how much they liked their jobs independently of the money they were earning. People in the professions and the ‘salariat’ were far more likely to say they would continue in the same job or occupation than those lower down the social scale, who could be presumed to have more boring or unpleasant jobs and expressed lower job satisfaction. A poll ahead of the June 2016 referendum on basic income in Switzerland asked people if they would cease their economic activity if a basic income were in place.14 Only 2 per cent said they would, in the context of a suggested basic income of 2,500 Swiss francs per person – which most people would regard as ‘comfortable’. However, a third thought others would! Over half said that if they had a basic income they would take the opportunity to obtain training, and over a fifth said they would try to go independent.


Green Economics: An Introduction to Theory, Policy and Practice by Molly Scott Cato

Albert Einstein, back-to-the-land, banking crisis, banks create money, basic income, Bretton Woods, Buy land – they’re not making it any more, carbon footprint, central bank independence, clean water, Community Supported Agriculture, congestion charging, corporate social responsibility, David Ricardo: comparative advantage, deskilling, energy security, food miles, Food sovereignty, Fractional reserve banking, full employment, gender pay gap, income inequality, informal economy, Intergovernmental Panel on Climate Change (IPCC), job satisfaction, land reform, land value tax, Mahatma Gandhi, market fundamentalism, mortgage debt, passive income, peak oil, price stability, profit maximization, profit motive, purchasing power parity, race to the bottom, reserve currency, the built environment, The Spirit Level, Tobin tax, University of East Anglia, wikimedia commons

Fitz-Gibbon (2004) Best of Both Worlds: Green Policies for Job Creation and Sustainability, London: Green Party response to the recession following on the global financial crisis as in the Green New Deal.8 Where there is agreement it is on the issue of what work will be necessary in the sustainable economy. Much of the work carried out today is souldestroying and wasteful of resources, creating gadgets than can be sold to make a profit for the corporation which controls the brand they are sold under, but offering little in terms of real satisfaction to the purchaser, and equally little in terms of job satisfaction to the producer. The use of resources and energy by workers in this sort of employment is indefensible within a green economy. Some green economists seek to make a distinction between ‘work’, which is useful, sustainable and a valid investment of resources, and ‘employment’, which is undertaken within a destructive economic system driven solely by profit.9 Green parties have engaged forthrightly in the debate about work.


pages: 310 words: 85,995

The Future of Capitalism: Facing the New Anxieties by Paul Collier

"Robert Solow", accounting loophole / creative accounting, Airbnb, assortative mating, bank run, Berlin Wall, Bernie Sanders, bitcoin, Bob Geldof, bonus culture, business cycle, call centre, central bank independence, centre right, Commodity Super-Cycle, computerized trading, corporate governance, creative destruction, cuban missile crisis, David Brooks, delayed gratification, deskilling, Donald Trump, eurozone crisis, financial deregulation, full employment, George Akerlof, Goldman Sachs: Vampire Squid, greed is good, income inequality, industrial cluster, information asymmetry, intangible asset, Jean Tirole, job satisfaction, Joseph Schumpeter, knowledge economy, late capitalism, loss aversion, Mark Zuckerberg, minimum wage unemployment, moral hazard, negative equity, New Urbanism, Northern Rock, offshore financial centre, out of africa, Peace of Westphalia, principal–agent problem, race to the bottom, rent control, rent-seeking, rising living standards, Robert Shiller, Robert Shiller, Ronald Reagan, shareholder value, Silicon Valley, Silicon Valley ideology, sovereign wealth fund, The Wealth of Nations by Adam Smith, theory of mind, too big to fail, trade liberalization, urban planning, web of trust, zero-sum game

Of course, they were utterly wrong to do so: they had failed to update their vision of ‘a good car’ to take pollution into account. Even in terms of their consequences for the company, their choices ended up being disastrous. But it is an insulting delusion of many people who, like me, have cushy jobs in the public sector to imagine that workers in the private sector are driven by greed and fear. The evidence suggests that job satisfaction is actually considerably higher in the private sector; for example, people are far less likely to use illness as a reason for not going to work. So, there is nothing intrinsically dirty about capitalism. Profit is the constraint that forces discipline on a firm, rather than defining its purpose. But the stories of Bear Stearns, ICI and GM indicate that something has gone seriously wrong. What is it?


pages: 309 words: 79,414

Going Dark: The Secret Social Lives of Extremists by Julia Ebner

23andMe, 4chan, Airbnb, anti-communist, anti-globalists, augmented reality, Ayatollah Khomeini, bitcoin, blockchain, Boris Johnson, citizen journalism, cognitive dissonance, crowdsourcing, cryptocurrency, Donald Trump, Elon Musk, feminist movement, game design, glass ceiling, Google Earth, job satisfaction, Mark Zuckerberg, mass immigration, Menlo Park, Mikhail Gorbachev, Network effects, off grid, pattern recognition, pre–internet, QAnon, RAND corporation, ransomware, rising living standards, self-driving car, Silicon Valley, Skype, Snapchat, social intelligence, Steve Jobs, Transnistria, WikiLeaks, zero day

Gamification – adding game elements to products, services or activities that have nothing to do with games – is a fairly novel concept. When Kellogg’s first started putting little games as prizes into its breakfast-cereal boxes in 1910, the idea became an instant hit. By the 1950s, gamification as an employee motivator was born. The sociologist Donald F. Roy demonstrated how a daily routine game in which factory workers steal bananas leads to higher job satisfaction and productivity. A hundred years after Kellogg’s gamification of cereal purchases, few employers, marketing agencies and political organisations are not using gamification to attract and keep recruits, customers or voters. Almost everything is gamified today, and that includes terrorism.6 ISIS were among the first militant groups to gamify their propaganda: they photoshopped jihadi soldiers on to Call of Duty game ads and produced their own video games for recruitment.


pages: 280 words: 82,355

Extreme Teams: Why Pixar, Netflix, AirBnB, and Other Cutting-Edge Companies Succeed Where Most Fail by Robert Bruce Shaw, James Foster, Brilliance Audio

Airbnb, augmented reality, call centre, cloud computing, deliberate practice, Elon Musk, future of work, inventory management, Jeff Bezos, job satisfaction, Jony Ive, loose coupling, meta analysis, meta-analysis, nuclear winter, Paul Graham, peer-to-peer, peer-to-peer model, performance metric, Peter Thiel, sharing economy, Silicon Valley, social intelligence, Steve Jobs, Tony Hsieh

Adam Bryant, “Corner Office,” New York Times, December 13, 2015. 5See the firm’s website for a list of its 10 values: deliveringhappiness.com/book/zappos-core-values/. 6Interview with Robert Bruce Shaw. 7Zappos HR Leader interview with Robert Bruce Shaw. Also see Dick Richards, “At Zappos, Culture Pays,” Strategy and Business 60 (2010). 8As suggested in this chapter, fit is essential in sustaining a firm’s cultural attributes. That said, fit is also important in the satisfaction of those who work in a company or group. Research indicates an employee’s fit with a firm’s culture is a strong predictor of organizational commitment, job satisfaction, and retention. See Amy L. Kristof-Brown and Erin C. Johnson, “Consequences of Individuals’ Fit at Work: A Meta-Analysis of Person-Job, Person-Organization, Person-Group and Person-Supervisor Fit,” Personnel Psychology 58 (2005), 281–342. 9Patagonia’s founder notes, “Not everyone wants to change the world, but we want a company to feel like home for those who do. Employees who are drawn to Chouinard Equipment, and later to Patagonia, either shared those values or did not mind working among those who held them.”


pages: 254 words: 81,009

Busy by Tony Crabbe

airport security, British Empire, business process, cognitive dissonance, Daniel Kahneman / Amos Tversky, fear of failure, Frederick Winslow Taylor, haute cuisine, informal economy, inventory management, Isaac Newton, job satisfaction, knowledge worker, Lao Tzu, loss aversion, low cost airline, meta analysis, meta-analysis, Milgram experiment, placebo effect, Richard Feynman, Rubik’s Cube, Saturday Night Live, science of happiness, Shai Danziger, Thorstein Veblen, Tim Cook: Apple

In 2012, researchers at Michigan State University carried out a thorough review of all the studies into self-regulation.13 Using a clever statistical technique called meta-analysis, they analyzed studies involving over 25,000 people. Their interest lay in the relationship between regulatory focus and performance. What they found was that a promotion focus was strongly related to task and job performance. It was also positively related to other good things like openness, innovation, helpfulness, job satisfaction and organizational commitment. Prevention, on the other hand, was not related to job performance: in other words, trying to stop bad things from happening does not improve performance. In addition, prevention-focused people tended to be less open, less innovative, less helpful, less satisfied with their job and less committed to the organization. This is possibly because the greater fear of bad outcomes means prevention-focused people play it safe.


pages: 319 words: 89,477

The Power of Pull: How Small Moves, Smartly Made, Can Set Big Things in Motion by John Hagel Iii, John Seely Brown

Albert Einstein, Andrew Keen, barriers to entry, Black Swan, business process, call centre, Clayton Christensen, cleantech, cloud computing, commoditize, corporate governance, creative destruction, disruptive innovation, Elon Musk, en.wikipedia.org, future of work, game design, George Gilder, intangible asset, Isaac Newton, job satisfaction, Joi Ito, knowledge economy, knowledge worker, loose coupling, Louis Pasteur, Malcom McLean invented shipping containers, Maui Hawaii, medical residency, Network effects, old-boy network, packet switching, pattern recognition, peer-to-peer, pre–internet, profit motive, recommendation engine, Ronald Coase, shareholder value, Silicon Valley, Skype, smart transportation, software as a service, supply-chain management, The Nature of the Firm, the new new thing, too big to fail, trade liberalization, transaction costs

For more information, please contact the Special Markets Department at the Perseus Books Group, 2300 Chestnut Street, Suite 200, Philadelphia, PA 19103, or call (800) 810-4145, ext. 5000, or e-mail special.markets@perseusbooks.com. Library of Congress Cataloging-in-Publication Data Hagel, John. The power of pull : how small moves, smartly made, can set big things in motion/ John Hagel III, John Seely Brown, and Lang Davison. p. cm. Includes bibliographical references and index. eISBN : 978-0-465-02113-0 1. Organizational change—Social aspects. 2. Success in business. 3. Motivation (Psychology) 4. Job satisfaction. 5. Social change. I. Brown, John Seely. II. Davison, Lang. III. Title. HD58.7.H334 2010 303.4—dc22 2009047323 Table of Contents Title Page Dedication Introduction Chapter 1 - The Diminishing Power of Push WHAT IS PUSH? THE ORIGINS OF PUSH A CAUTIONARY TALE THREE WAVES OF THE BIG SHIFT Chapter 2 - Access in an Unpredictable World SCALING WHO KNOWS WHOM FROM PROGRAMS TO PLATFORMS THE LI & FUNG STORY THE PORTALPLAYER STORY BRINGING IT HOME Chapter 3 - Attracting What We Need THE SUPER-NODE THE NATURE AND IMPORTANCE OF SERENDIPITY SHAPING SERENDIPITY: ENHANCING THE PRODUCTIVITY OF ATTENTION BRINGING IT HOME Chapter 4 - Achieving Our Potential—The Highest Level of Pull A NEW IMPERATIVE BUILDING UPON PULL PLATFORMS THE NEW CREATION SPACES SECRETS OF SUCCESS IN CREATION SPACES THE POTENTIAL FOR COLLABORATION CURVES BRINGING IT HOME Chapter 5 - The Individual’s Path to Pull EMERGING ELEMENTS OF TRANSFORMATION DRIVING INDIVIDUAL TRANSFORMATION BRINGING IT HOME Chapter 6 - Pulling from the Top of Institutions PRESSURE IS MOUNTING DRIVING SUCCESSFUL INSTITUTIONAL CHANGE BRINGING IT HOME Chapter 7 - Using Pull to Change the World SHAPING THROUGH PULL ELEMENTS OF THE SHAPING JOURNEY WHO CAN SHAPE?


pages: 343 words: 91,080

Uberland: How Algorithms Are Rewriting the Rules of Work by Alex Rosenblat

"side hustle", Affordable Care Act / Obamacare, Airbnb, Amazon Mechanical Turk, autonomous vehicles, barriers to entry, basic income, big-box store, call centre, cashless society, Cass Sunstein, choice architecture, collaborative economy, collective bargaining, creative destruction, crowdsourcing, disruptive innovation, don't be evil, Donald Trump, en.wikipedia.org, future of work, gender pay gap, gig economy, Google Chrome, income inequality, information asymmetry, Jaron Lanier, job automation, job satisfaction, Lyft, marginal employment, Mark Zuckerberg, move fast and break things, Network effects, new economy, obamacare, performance metric, Peter Thiel, price discrimination, Ralph Waldo Emerson, regulatory arbitrage, ride hailing / ride sharing, self-driving car, sharing economy, Silicon Valley, Silicon Valley ideology, Skype, social software, stealth mode startup, Steve Jobs, strikebreaker, TaskRabbit, Tim Cook: Apple, transportation-network company, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, union organizing, universal basic income, urban planning, Wolfgang Streeck, Zipcar

This distinction may originate with the different branding of the companies. Uber advertises itself as a chauffeur service with slogans like “Your private driver”; drivers say that Uber passengers sit in the backseat and stare at their phones. In contrast, Lyft advertises itself as “your friend with a car” and encourages drivers to fist-bump their passengers, who are welcome to sit in the front seat and chat with the driver. Lyft drivers reported higher rates of job satisfaction in a 2018 survey conducted by blogger Harry Campbell.8 In interviews and observations, many drivers indicated that Lyft is superior because it has an in-app tipping function (which Uber took a long time to introduce), which made it a bit more expensive for passengers but more satisfying to drivers. Some suggested that Lyft is just more respectful and nuanced in its appreciation of drivers’ concerns.


pages: 400 words: 88,647

Frugal Innovation: How to Do Better With Less by Jaideep Prabhu Navi Radjou

3D printing, additive manufacturing, Affordable Care Act / Obamacare, Airbnb, Albert Einstein, barriers to entry, Baxter: Rethink Robotics, Bretton Woods, business climate, business process, call centre, Capital in the Twenty-First Century by Thomas Piketty, carbon footprint, cloud computing, collaborative consumption, collaborative economy, Computer Numeric Control, connected car, corporate social responsibility, creative destruction, crowdsourcing, disruptive innovation, Elon Musk, financial exclusion, financial innovation, global supply chain, IKEA effect, income inequality, industrial robot, intangible asset, Internet of things, job satisfaction, Khan Academy, Kickstarter, late fees, Lean Startup, low cost airline, low cost carrier, M-Pesa, Mahatma Gandhi, megacity, minimum viable product, more computing power than Apollo, new economy, payday loans, peer-to-peer lending, Peter H. Diamandis: Planetary Resources, precision agriculture, race to the bottom, reshoring, risk tolerance, Ronald Coase, self-driving car, shareholder value, sharing economy, Silicon Valley, Silicon Valley startup, six sigma, smart grid, smart meter, software as a service, standardized shipping container, Steve Jobs, supply-chain management, TaskRabbit, The Fortune at the Bottom of the Pyramid, The Nature of the Firm, transaction costs, Travis Kalanick, unbanked and underbanked, underbanked, women in the workforce, X Prize, yield management, Zipcar

Simplify organisational structures As Bill Gore found, smaller, modular teams are more cohesive, more co-operative and have a greater sense of purpose, which in turn increases efficiency and creativity. Large firms need to find ways to keep teams small and tight-knit, flatten organisation and reduce internal complexity. They should try to replace pyramids with networks that link people according to their roles. Doing so will increase job satisfaction, reduce burnout and improve work performance. Empower employees A top-down management culture can be powerful in a crisis, but it will not make a company flexible and agile. Given that creative and skilled employees have increasing job options, firms must seek frugal ways to attract and retain them. One way is to let employees make and implement their own decisions. Following Lego’s 2004 turnaround, Jørgen Vig Knudstorp realised that the company “required a looser structure and a relaxation of the top-down management style imposed during the turnaround”.


pages: 330 words: 91,805

Peers Inc: How People and Platforms Are Inventing the Collaborative Economy and Reinventing Capitalism by Robin Chase

Airbnb, Amazon Web Services, Andy Kessler, banking crisis, barriers to entry, basic income, Benevolent Dictator For Life (BDFL), bitcoin, blockchain, Burning Man, business climate, call centre, car-free, cloud computing, collaborative consumption, collaborative economy, collective bargaining, commoditize, congestion charging, creative destruction, crowdsourcing, cryptocurrency, decarbonisation, different worldview, do-ocracy, don't be evil, Elon Musk, en.wikipedia.org, Ethereum, ethereum blockchain, Ferguson, Missouri, Firefox, frictionless, Gini coefficient, hive mind, income inequality, index fund, informal economy, Intergovernmental Panel on Climate Change (IPCC), Internet of things, Jane Jacobs, Jeff Bezos, jimmy wales, job satisfaction, Kickstarter, Lean Startup, Lyft, means of production, megacity, Minecraft, minimum viable product, Network effects, new economy, Oculus Rift, openstreetmap, optical character recognition, pattern recognition, peer-to-peer, peer-to-peer lending, peer-to-peer model, Richard Stallman, ride hailing / ride sharing, Ronald Coase, Ronald Reagan, Satoshi Nakamoto, Search for Extraterrestrial Intelligence, self-driving car, shareholder value, sharing economy, Silicon Valley, six sigma, Skype, smart cities, smart grid, Snapchat, sovereign wealth fund, Steve Crocker, Steve Jobs, Steven Levy, TaskRabbit, The Death and Life of Great American Cities, The Future of Employment, The Nature of the Firm, transaction costs, Turing test, turn-by-turn navigation, Uber and Lyft, uber lyft, Zipcar

In the preamble of its first annual “Values & Impact” progress report, Etsy describes its values, which are similar to Paul Polman’s: “To intercept the ecological and human crises that threaten us, we must redefine the ways in which capitalism operates. We believe that businesses are uniquely poised to create a sustainable and meaningful world.”8 In its first year of focusing on these issues, Etsy made incredible strides. For its employees, Etsy increased financial transparency, job satisfaction, opportunity, and fun quotient, and was acknowledged in 2013 with an award from the Great Place to Work Institute. Etsy improved its gender balance by increasing the number of female employees by 8 percent (to 46 percent of all employees) and the number of female managers (which went from 15 percent to 40 percent)—impressive and non-trivial improvements in a company whose workforce is dominated by engineers.


pages: 321 words: 92,828

Late Bloomers: The Power of Patience in a World Obsessed With Early Achievement by Rich Karlgaard

Airbnb, Albert Einstein, Amazon Web Services, Apple's 1984 Super Bowl advert, Bernie Madoff, Bob Noyce, Brownian motion, Captain Sullenberger Hudson, cloud computing, cognitive dissonance, Daniel Kahneman / Amos Tversky, deliberate practice, Electric Kool-Aid Acid Test, Elon Musk, en.wikipedia.org, experimental economics, fear of failure, financial independence, follow your passion, Frederick Winslow Taylor, hiring and firing, Internet of things, Isaac Newton, Jeff Bezos, job satisfaction, knowledge economy, labor-force participation, longitudinal study, low skilled workers, Mark Zuckerberg, meta analysis, meta-analysis, Moneyball by Michael Lewis explains big data, move fast and break things, move fast and break things, pattern recognition, Peter Thiel, Sand Hill Road, science of happiness, shareholder value, Silicon Valley, Silicon Valley startup, Snapchat, Steve Jobs, Steve Wozniak, theory of mind, Tim Cook: Apple, Toyota Production System, unpaid internship, upwardly mobile, women in the workforce, working poor

High self-efficacy is good because unless we truly believe we can produce the result we want, we have little incentive to try stuff in the first place or persevere in the face of challenges. Over the past few decades, dozens of studies have examined the importance of self-efficacy in academics, occupational development, and career success. Multiple cross-sectional and longitudinal studies prove that high self-efficacy has a positive influence on salary, job satisfaction, and career success. Self-efficacy has been studied, and verified, in a variety of areas, including phobias, depression, social skills, assertiveness, smoking addiction, pain control, health, and athletic performance. Why is self-efficacy such a big deal? Virtually all of us can identify goals that we want to accomplish or habits we’d like to change. Most of us, however, realize that putting these plans into action is not quite so simple.


pages: 251 words: 88,754

The politics of London: governing an ungovernable city by Tony Travers

active transport: walking or cycling, congestion charging, first-past-the-post, full employment, job satisfaction, negative equity, Neil Kinnock, new economy, urban sprawl

But, in the day-to-day business of holding the mayor to account, the powers given to the assembly were so limited that the mayor can, for the most part, simply ignore the assembly. Second, the powers that were given to the assembly have, for the most part, not been used effectively. Members evidently enjoy some aspects of their job more than others. High-profile activities such as mayor’s question time, or membership of the police and fire authorities, have offered greater job satisfaction than the often slow and painstaking business of holding inquiries and writing reports on aspects of London government. As has been stated, there was virtually no scrutiny of services such as police or fire and emergencies during the early years of the new authority. Using an analysis similar to that shown earlier for the mayor, an examination of the assembly’s press activity during the first three quarters of 2002 shows the environment as its main preoccupation (see Table 8.3).


pages: 358 words: 95,115

NurtureShock: New Thinking About Children by Po Bronson, Ashley Merryman

affirmative action, Columbine, delayed gratification, desegregation, hedonic treadmill, impulse control, index card, job satisfaction, lake wobegon effect, longitudinal study, meta analysis, meta-analysis, randomized controlled trial, social intelligence, Steven Pinker, telemarketer, theory of mind

., Anjali Mishra, William E. Breen, and Jeffrey J. Froh, “Gender Differences in Gratitude: Examining Appraisals, Narratives, and the Willingness to Express Emotions, and Changes in Psychological Needs,” Journal of Personality, vol. 77, no. 3 (Early view) (2009). McCausland, W. D., K. Pouliakas, and I. Theodossiou, “Some Are Punished and Some Are Rewarded: A Study of the Impact of Performance Pay on Job Satisfaction,” University of Aberdeen Business School Working Paper No. 2007–06 (2007). Padilla-Walker, Laura, “Characteristics of Mother-Child Interactions Related to Adolescents’ Positive Values and Behaviors,” Journal of Marriage and Family, vol. 69, pp. 675–686 (2007). Padilla-Walker, Laura M., and Gustavo Carlo, “Personal Values as a Mediator Between Parent and Peer Expectations and Adolescent Behaviors,” Journal of Family Psychology, vol. 21, no. 3, pp. 538–541 (2007).


pages: 261 words: 103,244

Economists and the Powerful by Norbert Haring, Norbert H. Ring, Niall Douglas

"Robert Solow", accounting loophole / creative accounting, Affordable Care Act / Obamacare, Albert Einstein, asset allocation, bank run, barriers to entry, Basel III, Bernie Madoff, British Empire, buy and hold, central bank independence, collective bargaining, commodity trading advisor, corporate governance, creative destruction, credit crunch, Credit Default Swap, David Ricardo: comparative advantage, diversified portfolio, financial deregulation, George Akerlof, illegal immigration, income inequality, inflation targeting, information asymmetry, Jean Tirole, job satisfaction, Joseph Schumpeter, Kenneth Arrow, knowledge worker, law of one price, light touch regulation, Long Term Capital Management, low skilled workers, mandatory minimum, market bubble, market clearing, market fundamentalism, means of production, minimum wage unemployment, moral hazard, new economy, obamacare, old-boy network, open economy, Pareto efficiency, Paul Samuelson, pension reform, Ponzi scheme, price stability, principal–agent problem, profit maximization, purchasing power parity, Renaissance Technologies, rolodex, Sergey Aleynikov, shareholder value, short selling, Steve Jobs, The Chicago School, the payments system, The Wealth of Nations by Adam Smith, too big to fail, transaction costs, ultimatum game, union organizing, Vilfredo Pareto, working-age population, World Values Survey

Together with his co-author Gordon Tullock, Buchanan in 1967 founded the Public Choice Society, which would be extremely successful in promoting and spreading these views in the profession (Amadae 2003). In part one of the BBC’s 2007 documentary The Trap: What Happened to Our Dream of Freedom, in an interview Buchanan is extremely clear: he considers “the public interest” as being in fact the disguised self-interest of governing bureaucrats, and that anyone motivated by anything other than rational self-interest – such as job satisfaction, a sense of public duty, or faith in God – is a zealot and to be feared as destabilizing and dangerous to society. In The Logic of Collective Action, Mancur Olson opposes any theory that works with the assumption that groups work together to further the group’s interests. While earlier theorists had deemed such behavior among group members rational, Olson insisted that it was the opposite.


pages: 471 words: 97,152

Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism by George A. Akerlof, Robert J. Shiller

"Robert Solow", affirmative action, Andrei Shleifer, asset-backed security, bank run, banking crisis, business cycle, buy and hold, collateralized debt obligation, conceptual framework, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, Daniel Kahneman / Amos Tversky, Deng Xiaoping, Donald Trump, Edward Glaeser, en.wikipedia.org, experimental subject, financial innovation, full employment, George Akerlof, George Santayana, housing crisis, Hyman Minsky, income per capita, inflation targeting, invisible hand, Isaac Newton, Jane Jacobs, Jean Tirole, job satisfaction, Joseph Schumpeter, Long Term Capital Management, loss aversion, market bubble, market clearing, mental accounting, Mikhail Gorbachev, money market fund, money: store of value / unit of account / medium of exchange, moral hazard, mortgage debt, Myron Scholes, new economy, New Urbanism, Paul Samuelson, plutocrats, Plutocrats, price stability, profit maximization, purchasing power parity, random walk, Richard Thaler, Robert Shiller, Robert Shiller, Ronald Reagan, South Sea Bubble, The Chicago School, The Death and Life of Great American Cities, The Wealth of Nations by Adam Smith, too big to fail, transaction costs, tulip mania, working-age population, Y2K, Yom Kippur War

Unpublished paper, University of California-Berkeley, and Duke University, July. Akerlof, George A., and Paul M. Romer. 1993. “Looting: The Economic Underworld of Bankruptcy for Profit.” Brookings Papers on Economic Activity 2:1–74. Akerlof, George A., and Janet L. Yellen. 1990. “The Fair Wage-Effort Hypothesis and Unemployment.” Quarterly Journal of Economics 105(2):255–83. Akerlof, George A., Andrew K. Rose, and Janet L. Yellen. 1988. “Job Switching and Job Satisfaction in the U.S. Labor Market.” Brookings Papers on Economic Activity 2:495–582. Akerlof, George A., William T. Dickens, and George L. Perry. 1996. “The Macroeconomics of Low Inflation.” Brookings Papers on Economic Activity 1:1–59. ———. 2000. “Near-Rational Wage and Price Setting and the Long-Run Phillips Curve.” Brookings Papers on Economic Activity 1:1–44. Akerlof, Robert J. 2008. “A Theory of Social Interactions.”


pages: 338 words: 100,477

Split-Second Persuasion: The Ancient Art and New Science of Changing Minds by Kevin Dutton

availability heuristic, Bernie Madoff, call centre, Cass Sunstein, cognitive bias, cognitive dissonance, credit crunch, different worldview, double helix, Douglas Hofstadter, equity premium, fundamental attribution error, haute couture, job satisfaction, loss aversion, Milgram experiment, placebo effect, Stephen Hawking, Steven Pinker, theory of mind, ultimatum game, upwardly mobile

The students, in the absence of any other justification for their behaviour, were forced to internalise the attitude they were induced to express – and came, in so doing, genuinely to believe that the tasks they had performed were enjoyable. On the other hand, those in the $20 group had reason to believe there was external justification for their behaviour – they were in it for the money. No confusion there over job satisfaction. Why We Love The Things We Hate (Especially If We Can’t Get A Refund) The perils of cognitive dissonance should feature uppermost in the mind of any prospective persuader. Especially in situations where there’s a lot at stake and the person whom one is persuading has much to lose. Festinger’s study – these days considered a classic – provided, for the very first time, concrete evidence of something that we now take for granted: powerful gravitational forces deep within our brains keep the orbits of both belief and behaviour in close psychological alignment.


pages: 345 words: 100,135

Snakes in Suits: When Psychopaths Go to Work by Dr. Paul Babiak, Dr. Robert Hare

business process, computer age, fixed income, greed is good, job satisfaction, laissez-faire capitalism, Norman Mailer, old-boy network, risk tolerance, twin studies

Both organization and individual profited from this model because of the stability it offered, and because of the focused energy, talent, expertise, and experience available to address day-to-day business issues and minor marketplace fluctuations. The reality was not always so rosy, of course, but in general, this model of stability worked, especially during times of high demand, intense profitability, and limited competition, when manufacturing, engineering, and basic service industries were at their peak. Employee surveys collected during this period showed that job satisfaction was influenced more by the chance to interact productively with others than by money. While money was, and is, always important, it was rarely first on the list—in fact, money tended to be rated somewhere in the middle, often lower than social interaction, job security, “the chance to do meaningful work,” and “appreciation from the boss.” Management theories popular at this time focused on building and enhancing individual self-esteem, listening and responding to ideas from employees, and capitalizing on human needs, such as security, social interaction, career advancement, and self-actualization, a term that captured the psychological need to achieve one’s own potential in life.


pages: 417 words: 103,458

The Intelligence Trap: Revolutionise Your Thinking and Make Wiser Decisions by David Robson

active measures, Affordable Care Act / Obamacare, Albert Einstein, Alfred Russel Wallace, Atul Gawande, availability heuristic, cognitive bias, corporate governance, correlation coefficient, cuban missile crisis, Daniel Kahneman / Amos Tversky, dark matter, deliberate practice, dematerialisation, Donald Trump, Flynn Effect, framing effect, fundamental attribution error, illegal immigration, Isaac Newton, job satisfaction, knowledge economy, lone genius, meta analysis, meta-analysis, Nelson Mandela, obamacare, pattern recognition, price anchoring, Richard Feynman, risk tolerance, Silicon Valley, social intelligence, Steve Jobs, the scientific method, theory of mind, traveling salesman, ultimatum game, Y2K, Yom Kippur War

In each case, the questions test people’s ability to prioritise tasks and weigh up the value of different options, to recognise the consequences of their actions and pre-empt potential challenges, and to persuade colleagues of pragmatic compromises that are necessary to keep a project moving without a stalemate. Crucially, Sternberg has found that these tests predicted measures of success such as yearly profits, the chances of winning a professional award, and overall job satisfaction. In the military, meanwhile, Sternberg examined various measures of leadership performance among platoon commanders, company commanders and battalion commanders. They were asked how to deal with soldier insubordination, for instance – or the best way to communicate the goals of a mission. Again, practical intelligence – and tacit knowledge, in particular – predicted their leadership ability better than traditional measures of general intelligence.55 Sternberg’s measures may lack the elegance of a one-size-fits-all IQ score, but they are a step closer to measuring the kind of thinking that allowed Jess Oppenheimer and Shelley Smith Mydans to succeed where other Termites failed.56 ‘Sternberg’s on the right track,’ Flynn told me.


pages: 351 words: 101,051

Also Human: The Inner Lives of Doctors by Caroline Elton

Alvin Roth, fear of failure, feminist movement, job satisfaction, Kickstarter, longitudinal study, medical residency, meta analysis, meta-analysis, Rubik’s Cube, women in the workforce

She was also shocked by the physical decay that the disease caused when patients were nearing the end of their life. On reflection, she wondered whether she needed a less demanding line of work. Building on her recent master’s, Zoe told me that she wanted to find work as a medico-legal adviser helping doctors who were on the receiving end of a patient complaint or who were facing disciplinary action. She no longer thought her job satisfaction was dependent on treating patients, and she was interested in the complex legal and ethical problems that medico-legal advisers encountered. Zoe duly applied for a medico-legal job but wasn’t appointed. Feedback from the panel was that her heart was still in medicine. Zoe was disappointed, but as she had been told that her chances next time would be greater if she finished her training, with great reluctance she decided to continue with oncology.


pages: 320 words: 96,006

The End of Men: And the Rise of Women by Hanna Rosin

affirmative action, call centre, cognitive dissonance, David Brooks, delayed gratification, edge city, facts on the ground, financial independence, hiring and firing, housing crisis, income inequality, informal economy, job satisfaction, low skilled workers, manufacturing employment, meta analysis, meta-analysis, new economy, New Urbanism, Norman Mailer, Northern Rock, post-work, postindustrial economy, purchasing power parity, Results Only Work Environment, Silicon Valley, social intelligence, Stanford prison experiment, Steven Pinker, union organizing, upwardly mobile, white picket fence, women in the workforce, young professional

At the forum he was lamenting that we teach our men to be “disposable” when we send them out to battle and cheer them at football games even though we know they might get injured. Farrell often tells the story of how he was in such a hurry to get through his studies and assume his breadwinning role that he failed some of his PhD exams. This experience taught him that men need to be liberated from their constricted sense of manhood. Some aspects of his visions have already come to pass: The younger generation of men does in fact aim for some job satisfaction and decent balance in their lives. Our expectation of fatherhood has changed dramatically since the seventies. There may not be all that many stay-at-home dads, but a father who is never home for family dinner or bedtime is out of tune with the times. Still, men have not yet fully embraced the message. There are many engaged fathers these days, but no men marching in the streets to demand paternity leave or flexible schedules.


pages: 336 words: 95,773

The Theft of a Decade: How the Baby Boomers Stole the Millennials' Economic Future by Joseph C. Sternberg

Affordable Care Act / Obamacare, Airbnb, American Legislative Exchange Council, Asian financial crisis, banking crisis, Basel III, Bernie Sanders, blue-collar work, centre right, corporate raider, Detroit bankruptcy, Donald Trump, Edward Glaeser, employer provided health coverage, Erik Brynjolfsson, eurozone crisis, future of work, gig economy, Gordon Gekko, hiring and firing, Home mortgage interest deduction, housing crisis, job satisfaction, job-hopping, labor-force participation, low skilled workers, Lyft, Marc Andreessen, Mark Zuckerberg, minimum wage unemployment, mortgage debt, mortgage tax deduction, Nate Silver, new economy, obamacare, oil shock, payday loans, pension reform, quantitative easing, Richard Florida, Ronald Reagan, Saturday Night Live, Second Machine Age, sharing economy, Silicon Valley, sovereign wealth fund, TaskRabbit, total factor productivity, Tyler Cowen: Great Stagnation, uber lyft, unpaid internship, women in the workforce

The number of 1099 forms that record self-employment income for tax purposes has shot up by 22 percent since 2000, compared to a 3.5 percent decline in the W-2 tax filings that employers use to report pay for regular employment. There was a notable increase in 1099 issuance after 2008.47 The gig economy could encompass a whopping 43 percent of American workers by 2020, according to an estimate by Intuit CEO Brad Smith in 2017.†48 Certainly there are different kinds of gig work that allow different levels of skill development and provide different levels of job satisfaction. The problem is that the gig economy seems to be taking over large sections of the labor market, and Millennials will live with the consequences for the rest of their lives. The most important benefit Millennials are missing out on as they get locked out of traditional employment is an employer’s investment in their training and skills. Millennials as a cohort might have more education than any previous generation at this stage in our lives, but like any previous generation we still need to learn how to translate that education into real, on-the-job competence in the working world.


pages: 410 words: 101,260

Originals: How Non-Conformists Move the World by Adam Grant

Albert Einstein, Apple's 1984 Super Bowl advert, availability heuristic, barriers to entry, business process, business process outsourcing, Cass Sunstein, clean water, cognitive dissonance, creative destruction, cuban missile crisis, Daniel Kahneman / Amos Tversky, Dean Kamen, double helix, Elon Musk, fear of failure, Firefox, George Santayana, Ignaz Semmelweis: hand washing, Jeff Bezos, job satisfaction, job-hopping, Joseph Schumpeter, Kickstarter, Lean Startup, Louis Pasteur, Mahatma Gandhi, Mark Zuckerberg, meta analysis, meta-analysis, minimum viable product, Nelson Mandela, Network effects, pattern recognition, Paul Graham, Peter Thiel, Ralph Waldo Emerson, random walk, risk tolerance, Rosa Parks, Saturday Night Live, Silicon Valley, Skype, Steve Jobs, Steve Wozniak, Steven Pinker, The Wisdom of Crowds, women in the workforce

Detert, and Dan S. Chiaburu, “Quitting Before Leaving: The Mediating Effects of Psychological Attachment and Detachment on Voice,” Journal of Applied Psychology 93 (2008): 912–22. exit, voice, persistence, and neglect: Caryl E. Rusbult, Dan Farrell, Glen Rogers, and Arch G. Mainous III, “Impact of Exchange Variables on Exit, Voice, Loyalty, and Neglect: An Integrative Model of Responses to Declining Job Satisfaction,” Academy of Management Journal 31 (1988): 599–627; Michael J. Withey and William H. Cooper, “Predicting Exit, Voice, Loyalty, and Neglect,” Administrative Science Quarterly 34 (1989): 521–39. these choices are based on feelings of control and commitment: Subrahmaniam Tangirala and Rangaraj Ramanujam, “Exploring Nonlinearity in Employee Voice: The Effects of Personal Control and Organizational Identification,” Academy of Management Journal 51 (2008): 1189–1203.


pages: 316 words: 101,950

With the End in Mind by Kathryn Mannix

job satisfaction, pattern recognition, Stephen Hawking

Pins and needles spike my fingertips as I gather my bags; they have less in them than when I arrived, but somehow they feel heavier. They are filled with admiration and awe for this almost-woman, this great-hearted human, who has lived and loved so fully in a lifetime cut short, whose cup is half full – no, in fact, so full it is running over. Lullaby Offering a palliative care service to strangers is an intellectually stimulating challenge, filled with job satisfaction. It’s very different to be walking a palliative care route alongside our own dear friends and family, especially when the disease is stripping away the delights of childhood from a much-loved baby. This story is about the wonderful resilience of families in the most heartbreaking of circumstances, and a legacy that preserves a beloved child’s name as a word associated with comfort and care.


pages: 322 words: 99,918

A Year of Living Danishly: My Twelve Months Unearthing the Secrets of the World's Happiest Country by Helen Russell

Affordable Care Act / Obamacare, Downton Abbey, happiness index / gross national happiness, income inequality, job satisfaction, Kickstarter, obamacare, offshore financial centre, remote working, selective serotonin reuptake inhibitor (SSRI), sensible shoes, Silicon Valley, Skype, Stephen Hawking

I ask whether Peter counts himself among the happy Danes I’m researching and he tells me that he’s very happy indeed: ‘I think people in Denmark generally are, although we do like to moan – we’re spoilt! Personally, I’d say I’m a nine out of ten. Maybe ten out of ten professionally.’ And there you have it. Even a man who spends his days defending giraffe deaths and getting hate mail comparing him to Hitler is happy in Denmark. Now that’s job satisfaction. Still bemused by all I’ve seen and heard over the past few days but determined to get my own animal behaving a bit more Danishly, I come home intent on finding a canine camp to teach him some manners. ‘You’re going to school,’ I tell him. ‘yeowungggggg,’ he protests. ‘It’s not just me who has to give this living Danishly thing a go. You do too. We’re four months in and I haven’t seen any evidence of Danish integration…’ I scold.


The Pirate's Dilemma by Matt Mason

"side hustle", Albert Einstein, augmented reality, barriers to entry, citizen journalism, creative destruction, don't be evil, Donald Trump, Douglas Engelbart, East Village, Firefox, future of work, glass ceiling, global village, Hacker Ethic, haute couture, Howard Rheingold, Internet of things, invisible hand, Isaac Newton, jimmy wales, job satisfaction, John Markoff, Joseph Schumpeter, Kickstarter, Lao Tzu, Marshall McLuhan, means of production, Naomi Klein, new economy, New Urbanism, patent troll, peer-to-peer, prisoner's dilemma, RAND corporation, RFID, Richard Florida, Richard Stallman, SETI@home, Silicon Valley, South China Sea, Stephen Hawking, Steve Jobs, Steve Wozniak, Steven Levy, Stewart Brand, Tim Cook: Apple, urban sprawl, Whole Earth Catalog

He was also referring to the fact that he had recently been made president and CEO of the record label he had been signed to for years: Def Jam Records. The move looked like a publicity stunt at first, and *According to a 2006 survey by the Junior Achievement Worldwide organization, more than 70 percent of teenagers are interested in starting their own businesses, and 83 percent think self-employment will provide greater job satisfaction. 190 | THE PIRATE’S DILEMMA this was not lost on Jay-Z. “I know people think that this is a vanity job or that I’m the guy that just brings in talent and I’m out of the office three months a year and I only come in once in a while, you know, like the real president,” he joked to The New York Times. “But yes, I’m really there.” It may have seemed crazy, but it makes perfect sense. If rappers are experts at extending brands, as Jay-Z certainly is, why not hire a rapper as CEO?


Free Money for All: A Basic Income Guarantee Solution for the Twenty-First Century by Mark Walker

3D printing, 8-hour work day, additive manufacturing, Affordable Care Act / Obamacare, basic income, Baxter: Rethink Robotics, Capital in the Twenty-First Century by Thomas Piketty, commoditize, financial independence, full employment, happiness index / gross national happiness, industrial robot, intangible asset, invisible hand, Jeff Bezos, job automation, job satisfaction, John Markoff, Kevin Kelly, laissez-faire capitalism, longitudinal study, market clearing, means of production, new economy, obamacare, off grid, plutocrats, Plutocrats, precariat, profit motive, Ray Kurzweil, rent control, RFID, Rodney Brooks, Rosa Parks, science of happiness, Silicon Valley, surplus humans, The Future of Employment, the market place, The Wealth of Nations by Adam Smith, too big to fail, transaction costs, universal basic income, working poor

It should be apparent that this argument holds only on two assumptions: first, that those who are most likely to drop out of the work force work in occupations that 192 FREE MONEY FOR ALL might be automated, and second, that there is not a lot of withdrawal from the labor market by robotic developers or others that might be instrumental in increasing automation. So, for example, it would be a terrible outcome if BIG induced only those with PhDs in robotics to drop out and surf all day long. Much better for a robotic future is if fast-food workers are more likely to drop out. Given the pay differential and the difference in job satisfaction between roboticists and fast-food workers, it is safe to assume that any decline in the workforce participation rate is more likely to come from the ranks of the latter. The Rawlsian view that threatens the perennial Malibu surfer is badly mistaken. Perennial surfers ought to be celebrated as heroes of the nation. Without them, the contradiction of late-stage capitalism is only exacerbated.


pages: 393 words: 91,257

The Coming of Neo-Feudalism: A Warning to the Global Middle Class by Joel Kotkin

Admiral Zheng, Andy Kessler, autonomous vehicles, basic income, Bernie Sanders, call centre, Capital in the Twenty-First Century by Thomas Piketty, carbon footprint, Cass Sunstein, clean water, creative destruction, deindustrialization, demographic transition, don't be evil, Donald Trump, edge city, Elon Musk, European colonialism, financial independence, Francis Fukuyama: the end of history, gig economy, Gini coefficient, Google bus, guest worker program, Hans Rosling, housing crisis, income inequality, informal economy, Jane Jacobs, Jaron Lanier, Jeff Bezos, job automation, job satisfaction, Joseph Schumpeter, land reform, liberal capitalism, life extension, low skilled workers, Lyft, Mark Zuckerberg, market fundamentalism, Martin Wolf, mass immigration, megacity, Nate Silver, new economy, New Urbanism, Occupy movement, Parag Khanna, Peter Thiel, plutocrats, Plutocrats, post-industrial society, post-work, postindustrial economy, postnationalism / post nation state, precariat, profit motive, RAND corporation, Ray Kurzweil, rent control, Richard Florida, road to serfdom, Robert Gordon, Sam Altman, Satyajit Das, sharing economy, Silicon Valley, smart cities, Steve Jobs, Stewart Brand, superstar cities, The Death and Life of Great American Cities, The Future of Employment, The Rise and Fall of American Growth, Thomas L Friedman, too big to fail, trade route, Travis Kalanick, Uber and Lyft, uber lyft, universal basic income, unpaid internship, upwardly mobile, We are the 99%, Wolfgang Streeck, women in the workforce, working-age population, Y Combinator

New York Times, October 14, 2017, https://www.nytimes.com/2017/10/14/opinion/sunday/millennials-freedom-fear.html. 52 Ronald Brownstein, “Millennials to pass baby boomers as largest voter-eligible age group and what it means,” CNN, July 25, 2017, https://www.cnn.com/2017/07/25/politics/brownstein-millennials-largest-voter-group-baby-boomers/index.html. 53 Li Sun, Rural Urban Migration and Policy Intervention in China (Singapore: Palgrave, 2019), 133; Zhiming Cheng, Haining Wang, and Russell Smyth, “Happiness and job satisfaction in urban China: A comparative study of two generations of migrants and urban locals,” Urban Studies, vol. 51:10 (November 2013), 2160–84. 54 Rob Schmitz, “In China, The Communist Party’s Latest, Unlikely Target: Young Marxists,” NPR, November 21, 2018, https://www.npr.org/2018/11/21/669509554/in-china-the-communist-partys-latest-unlikely-target-young-marxists?fbclid=IwAR2Qubw2ENnDLE_G1GHwGwsDaOUtwmBfRZalygyhQmO-Au7xAAd28CLXGwc; “Officials in Beijing worry about Marx-loving students,” Economist, September 27, 2018, https://www.economist.com/china/2018/09/27/officials-in-beijing-worry-about-marx-loving-students. 55 Guy Standing, “A ‘Precariat Charter’ is required to combat the inequalities and insecurities produced by global capitalism,” London School of Economics and Political Science, May 5, 2014, http://blogs.lse.ac.uk/europpblog/2014/05/05/a-precariat-charter-is-required-to-combat-the-inequalities-and-insecurities-produced-by-global-capitalism/; Aaron M.


pages: 335 words: 104,850

Conscious Capitalism, With a New Preface by the Authors: Liberating the Heroic Spirit of Business by John Mackey, Rajendra Sisodia, Bill George

Berlin Wall, Buckminster Fuller, business process, carbon footprint, collective bargaining, corporate governance, corporate social responsibility, creative destruction, crony capitalism, cross-subsidies, en.wikipedia.org, Everything should be made as simple as possible, Fall of the Berlin Wall, fear of failure, Flynn Effect, income per capita, invisible hand, Jeff Bezos, job satisfaction, lone genius, Mahatma Gandhi, microcredit, Nelson Mandela, Occupy movement, profit maximization, Ralph Waldo Emerson, shareholder value, six sigma, social intelligence, Social Responsibility of Business Is to Increase Its Profits, Steve Jobs, Steven Pinker, The Fortune at the Bottom of the Pyramid, The Wealth of Nations by Adam Smith, too big to fail, union organizing, wealth creators, women in the workforce, zero-sum game

But we believe that the millennial generation (those born between approximately 1980 and 2000) that is coming of age right now will be the primary creators of change.1 From their ranks will emerge the entrepreneurs who will create the future conscious businesses and conscious nonprofits that will radically accelerate our collective social and economic evolution. According to Jeanne Meister and Karie Willyerd, “Millennials view work as a key part of life, not a separate activity that needs to be ‘balanced’ by it … They want work to afford them the opportunity to make new friends, learn new skills, and connect to a larger purpose. That sense of purpose is a key factor in their job satisfaction; according to our research, they’re the most socially conscious generation since the 1960s.”2 A Shared Dream Our dream for the Conscious Capitalism movement is simple: One day, virtually every business will operate with a sense of higher purpose, integrate the interests of all stakeholders, develop and elevate conscious leaders, and build a culture of trust, accountability, and caring.


pages: 334 words: 104,382

Brotopia: Breaking Up the Boys' Club of Silicon Valley by Emily Chang

23andMe, 4chan, Ada Lovelace, affirmative action, Airbnb, Apple II, augmented reality, autonomous vehicles, barriers to entry, Bernie Sanders, Burning Man, California gold rush, Chuck Templeton: OpenTable:, David Brooks, Donald Trump, Elon Musk, equal pay for equal work, Ferguson, Missouri, game design, gender pay gap, Google Glasses, Google X / Alphabet X, Grace Hopper, high net worth, Hyperloop, Jeff Bezos, job satisfaction, Khan Academy, Lyft, Marc Andreessen, Mark Zuckerberg, Maui Hawaii, Menlo Park, meta analysis, meta-analysis, microservices, paypal mafia, Peter Thiel, post-work, pull request, ride hailing / ride sharing, rolodex, Saturday Night Live, shareholder value, side project, Silicon Valley, Silicon Valley startup, Skype, Snapchat, Steve Jobs, Steve Wozniak, Steven Levy, subscription business, Tim Cook: Apple, Travis Kalanick, uber lyft, women in the workforce

CHAPTER 9: SILICON VALLEY’S SECOND CHANCE “I’ve never seen anything quite”: Meg Whitman, “Meg Whitman Says Sexual Harassment Cases May Change Workplace,” interview by author, Bloomberg, Nov. 28, 2017, https://www.bloomberg.com/news/articles/2017-11-28/hpe-s-whitman-says-sexual-harassment-cases-may-change-workplace. Research shows that companies: Susan Sorenson, “How Employee Engagement Drives Growth,” Gallup, June 20, 2013, http://news.gallup.com/businessjournal/163130/employee-engagement-drives-growth.aspx. Higher morale and a more: Eric G. Lambert, Nancy Lynne Hogan, and Shannon M. Barton, “The Impact of Job Satisfaction on Turnover Intent: A Test of a Structural Measurement Model Using a National Sample of Workers,” Social Science Journal 38, no. 2 (Summer 2001): 233–50, https://doi.org/10.1016/S0362-3319(01)00110-0. Another way to look at this: Michael Kimmel, “Why Gender Equality Is Good for Everyone—Men Included,” TED talk, May 2015, https://www.ted.com/talks/michael_kimmel_why_gender_equality_is_good_for_everyone_men_included.


pages: 367 words: 108,689

Broke: How to Survive the Middle Class Crisis by David Boyle

anti-communist, banking crisis, Berlin Wall, Big bang: deregulation of the City of London, Bonfire of the Vanities, bonus culture, call centre, collateralized debt obligation, corporate raider, Credit Default Swap, credit default swaps / collateralized debt obligations, deindustrialization, delayed gratification, Desert Island Discs, Eugene Fama: efficient market hypothesis, eurozone crisis, Fall of the Berlin Wall, financial deregulation, financial independence, financial innovation, financial intermediation, Francis Fukuyama: the end of history, Frederick Winslow Taylor, housing crisis, income inequality, Jane Jacobs, job satisfaction, Kickstarter, knowledge economy, knowledge worker, market fundamentalism, Martin Wolf, mega-rich, mortgage debt, Neil Kinnock, Nelson Mandela, new economy, Nick Leeson, North Sea oil, Northern Rock, Occupy movement, off grid, offshore financial centre, pension reform, pensions crisis, Plutonomy: Buying Luxury, Explaining Global Imbalances, Ponzi scheme, positional goods, precariat, quantitative easing, school choice, Slavoj Žižek, social intelligence, too big to fail, trickle-down economics, Vanguard fund, Walter Mischel, wealth creators, Winter of Discontent, working poor

The shopkeepers became increasingly middle-class, and they were joined by a whole range of middle-class professions: solicitors, vicars, stockbrokers, bankers, local government officials, teachers, magistrates and many more. This was the world that I was born into in 1958. You could go to university and aspire to be one of these professionals, and be paid enough for a comfortable life and live out your days with status and job satisfaction. It didn’t matter if you lived hundreds of miles from London SW1 or EC1, there were all around you middle-class professionals living relatively comfortable lives, having reached as far as they could go in their career. My godmother’s husband was a stockbroker in Bristol in the 1950s. Paul Woolley, the City thinker we met in chapter 4, was a stockbroker in Birmingham in the 1960s. There were teachers, solicitors, factory managers, cinema and brewery owners and newspaper editors.


pages: 363 words: 109,417

Big Dead Place: Inside the Strange and Menacing World of Antarctica by Nicholas Johnson

Joan Didion, job satisfaction, Milgram experiment, post-work, Ronald Reagan, telerobotics, trade route, young professional

I suddenly understood why boredom was a problem in Antarctica. I met him again while loading half-ton triwalls of food waste into a milvan with the pickle. Two triwalls barely fit side-by-side in a milvan, so a maladjusted pallet can require fancy work to avoid splitting one of them open. I had been loading waste for a few hours and thus was in the Zone, where speed and quality of physical labor unite in job satisfaction. Inside the pickle, and in the winter dark, you are essentially blind and deaf to the rear. Because the pickles are old, everything in the cab rattles, adding to the loud engine noise. I rolled backwards from the milvan, barely seeing a red-coated figure in the dark walking around. Workers know not to fuck around near machines without making eye contact with the operator. I was annoyed. I put the parking brake on and opened the door, and looked out at the figure.


pages: 502 words: 107,657

Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die by Eric Siegel

Albert Einstein, algorithmic trading, Amazon Mechanical Turk, Apple's 1984 Super Bowl advert, backtesting, Black Swan, book scanning, bounce rate, business intelligence, business process, butter production in bangladesh, call centre, Charles Lindbergh, commoditize, computer age, conceptual framework, correlation does not imply causation, crowdsourcing, dark matter, data is the new oil, en.wikipedia.org, Erik Brynjolfsson, Everything should be made as simple as possible, experimental subject, Google Glasses, happiness index / gross national happiness, job satisfaction, Johann Wolfgang von Goethe, lifelogging, Machine translation of "The spirit is willing, but the flesh is weak." to Russian and back, mass immigration, Moneyball by Michael Lewis explains big data, Nate Silver, natural language processing, Netflix Prize, Network effects, Norbert Wiener, personalized medicine, placebo effect, prediction markets, Ray Kurzweil, recommendation engine, risk-adjusted returns, Ronald Coase, Search for Extraterrestrial Intelligence, self-driving car, sentiment analysis, Shai Danziger, software as a service, speech recognition, statistical model, Steven Levy, text mining, the scientific method, The Signal and the Noise by Nate Silver, The Wisdom of Crowds, Thomas Bayes, Thomas Davenport, Turing test, Watson beat the top human players on Jeopardy!, X Prize, Yogi Berra, zero-sum game

For example: Your purchases relate to your shopping history, online behavior, and preferred payment method, and to the actions of your social contacts. Data reveals how to predict consumer behavior from these elements. Your health relates to your life choices and environment, and therefore data captures connections predictive of health based on type of neighborhood and household characteristics. Your job satisfaction relates to your salary, evaluations, and promotions, and data mirrors this reality. Financial behavior and human emotions are connected, so, as we’ll reveal later in this chapter, data may reflect that relationship as well. Data always speaks. It always has a story to tell, and there’s always something to learn from it. Data scientists see this over and over again across PA projects. Pull some data together and, although you can never be certain what you’ll find, you can be sure you’ll discover valuable connections by decoding the language it speaks and listening.


pages: 380 words: 109,724

Don't Be Evil: How Big Tech Betrayed Its Founding Principles--And All of US by Rana Foroohar

"side hustle", accounting loophole / creative accounting, Airbnb, AltaVista, autonomous vehicles, banking crisis, barriers to entry, Bernie Madoff, Bernie Sanders, bitcoin, book scanning, Brewster Kahle, Burning Man, call centre, cashless society, cleantech, cloud computing, cognitive dissonance, Colonization of Mars, computer age, corporate governance, creative destruction, Credit Default Swap, cryptocurrency, data is the new oil, death of newspapers, Deng Xiaoping, disintermediation, don't be evil, Donald Trump, drone strike, Edward Snowden, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, Etonian, Filter Bubble, future of work, game design, gig economy, global supply chain, Gordon Gekko, greed is good, income inequality, informal economy, information asymmetry, intangible asset, Internet Archive, Internet of things, invisible hand, Jaron Lanier, Jeff Bezos, job automation, job satisfaction, Kenneth Rogoff, life extension, light touch regulation, Lyft, Mark Zuckerberg, Marshall McLuhan, Martin Wolf, Menlo Park, move fast and break things, move fast and break things, Network effects, new economy, offshore financial centre, PageRank, patent troll, paypal mafia, Peter Thiel, pets.com, price discrimination, profit maximization, race to the bottom, recommendation engine, ride hailing / ride sharing, Robert Bork, Sand Hill Road, search engine result page, self-driving car, shareholder value, sharing economy, Shoshana Zuboff, Silicon Valley, Silicon Valley startup, smart cities, Snapchat, South China Sea, sovereign wealth fund, Steve Jobs, Steven Levy, subscription business, supply-chain management, TaskRabbit, Telecommunications Act of 1996, The Chicago School, the new new thing, Tim Cook: Apple, too big to fail, Travis Kalanick, trickle-down economics, Uber and Lyft, Uber for X, uber lyft, Upton Sinclair, WikiLeaks, zero-sum game

Lyft, Uber’s biggest competitor, has always been known as the kinder, gentler ridesharing company, in part because its CEO Logan Green has been more inclined to discuss the downsides of the sharing economy in a thoughtful and open way (that and the fact that he hasn’t been caught on a dashcam screaming at his own drivers). Green is, for example, concerned about the potential mass displacement of drivers in the United States (which represents the largest single category of work for men with a high school degree or less) by autonomous vehicles. Drivers themselves have reported being able to make more money on Lyft relative to Uber, and have higher levels of job satisfaction. (Lyft was first to allow tipping to drivers.)11 Unfortunately, these things fall at the margins. At the end of the day, the business models of the two companies are almost exactly identical; both create tremendously asymmetrical relationships between companies and workers in ways that make the latter ever more insecure. This speaks to the fact that the problems with sharing-economy companies are less about the CEO than the fundamental business model.


Pour Your Heart Into It by Howard Schultz

Albert Einstein, barriers to entry, clean water, corporate raider, Exxon Valdez, fear of failure, job satisfaction, market design, Ray Oldenburg, shareholder value, The Great Good Place, urban renewal, working poor, zero-sum game

ARC conducted fifteen focus groups in seven cities and surveyed 900 partners by telephone. Their overall findings confirmed my belief that we have managed to maintain an extraordinary culture that truly values people: 88 percent were satisfied with their jobs, 85 percent thought Starbucks showed concern for its employees, 89 percent were proud to work at Starbucks, and 100 percent thought “working for a company that you respect” was an important factor in job satisfaction. The professionals at ARC, who survey many companies, told us that these marks were extraordinarily high. The poll also revealed that a high percentage of our baristas were in their late teens or early twenties, and many saw working at Starbucks as an acceptable “way station” on the road to a meaningful career. Baristas took pride in the coffee skills they had learned and judged a Starbucks job as much higher in status than working at a fast-food outlet.


pages: 374 words: 111,284

The AI Economy: Work, Wealth and Welfare in the Robot Age by Roger Bootle

"Robert Solow", 3D printing, agricultural Revolution, AI winter, Albert Einstein, anti-work, autonomous vehicles, basic income, Ben Bernanke: helicopter money, Bernie Sanders, blockchain, call centre, Capital in the Twenty-First Century by Thomas Piketty, Chris Urmson, computer age, conceptual framework, corporate governance, correlation does not imply causation, creative destruction, David Ricardo: comparative advantage, deindustrialization, deskilling, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, everywhere but in the productivity statistics, facts on the ground, financial intermediation, full employment, future of work, income inequality, income per capita, industrial robot, Internet of things, invention of the wheel, Isaac Newton, James Watt: steam engine, Jeff Bezos, job automation, job satisfaction, John Markoff, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, John von Neumann, Joseph Schumpeter, Kevin Kelly, license plate recognition, Marc Andreessen, Mark Zuckerberg, market bubble, mega-rich, natural language processing, Network effects, new economy, Nicholas Carr, Paul Samuelson, Peter Thiel, positional goods, quantitative easing, RAND corporation, Ray Kurzweil, Richard Florida, ride hailing / ride sharing, rising living standards, road to serfdom, Robert Gordon, Robert Shiller, Robert Shiller, Second Machine Age, secular stagnation, self-driving car, Silicon Valley, Simon Kuznets, Skype, social intelligence, spinning jenny, Stanislav Petrov, Stephen Hawking, Steven Pinker, technological singularity, The Future of Employment, The Wealth of Nations by Adam Smith, Thomas Malthus, trade route, universal basic income, US Airways Flight 1549, Vernor Vinge, Watson beat the top human players on Jeopardy!, We wanted flying cars, instead we got 140 characters, wealth creators, winner-take-all economy, Y2K, Yogi Berra

According to McKinsey, the aspects of a job – any job – that are least susceptible to automation are creativity and sensing emotion. Admittedly, the firm says that in the US economy only 4 percent of work activities require creativity. But for “sensing emotion” the figure is 29 percent. These figures suggest that there is great scope for jobs for humans to be transformed in a way that majors in skills that humans uniquely possess, and in the process to create more job satisfaction.20 This word “creativity” needs interpretation. We are not talking only about the ability to do what Beethoven or Van Gogh did. At the most mundane level, all humans exhibit creativity in their everyday lives. Children exhibit this in abundance in the way they play. It includes the ability to innovate, and to develop new ways of doing old things. Actually, to McKinsey’s two key criteria for human “comparative advantage” I would add a third: the need for the exercise of common sense.


pages: 309 words: 114,984

The Digital Doctor: Hope, Hype, and Harm at the Dawn of Medicine’s Computer Age by Robert Wachter

"Robert Solow", activist fund / activist shareholder / activist investor, Affordable Care Act / Obamacare, AI winter, Airbnb, Atul Gawande, Captain Sullenberger Hudson, Checklist Manifesto, Chuck Templeton: OpenTable:, Clayton Christensen, collapse of Lehman Brothers, computer age, creative destruction, crowdsourcing, deskilling, disruptive innovation, en.wikipedia.org, Erik Brynjolfsson, everywhere but in the productivity statistics, Firefox, Frank Levy and Richard Murnane: The New Division of Labor, Google Glasses, Ignaz Semmelweis: hand washing, Internet of things, job satisfaction, Joseph Schumpeter, Kickstarter, knowledge worker, lifelogging, medical malpractice, medical residency, Menlo Park, minimum viable product, natural language processing, Network effects, Nicholas Carr, obamacare, pattern recognition, peer-to-peer, personalized medicine, pets.com, Productivity paradox, Ralph Nader, RAND corporation, Second Machine Age, self-driving car, Silicon Valley, Silicon Valley startup, six sigma, Skype, Snapchat, software as a service, Steve Jobs, Steven Levy, the payments system, The Wisdom of Crowds, Thomas Bayes, Toyota Production System, Uber for X, US Airways Flight 1549, Watson beat the top human players on Jeopardy!, Yogi Berra

“These are highly competitive, highly educated people who really don’t like the idea of being behind the curve at all. Except, you hear this from everybody, so they’re evidently not talking about it with each other.” The survey results weren’t all bad news for electronic health record boosters: 61 percent of physicians felt their EHR improved the quality of care they delivered to patients. But only one in three felt it had improved their job satisfaction, and one in five said they would go back to paper if they could. Tellingly, the more advanced the EHR (for example, systems that offered reminders, alerts, and messaging capability), the greater the unhappiness. Many physicians pointed to data entry as the greatest source of heartburn. A separate 2013 survey reported that, since going digital, 85 percent of office-based doctors felt they were now spending more time on documentation, and two-thirds of them were seeing fewer patients.


pages: 561 words: 114,843

Startup CEO: A Field Guide to Scaling Up Your Business, + Website by Matt Blumberg

activist fund / activist shareholder / activist investor, airport security, Albert Einstein, bank run, Ben Horowitz, Broken windows theory, crowdsourcing, deskilling, fear of failure, high batting average, high net worth, hiring and firing, Inbox Zero, James Hargreaves, Jeff Bezos, job satisfaction, Kickstarter, knowledge economy, knowledge worker, Lean Startup, Mark Zuckerberg, minimum viable product, pattern recognition, performance metric, pets.com, rolodex, Rubik’s Cube, shareholder value, Silicon Valley, Skype

., the next sale, software deployment, capital raise or satisfied customer) and honor them. Celebrating these will keep your team and you energized. 4. Add meaning to your endeavor by making it about more than money. Be sure you can describe how your business will make your clients or customers and potentially the world better off. Research makes it clear that individuals who find their work meaningful beyond financial rewards report higher job satisfaction, higher job performance, less job stress and longer tenure. This includes the CEO! While not a psychologist or social scientist, perhaps Teddy Roosevelt said it best. It is not the critic who counts: not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming but who knows the great enthusiasms, the great devotions, who spends himself for a worthy cause; who, at the best, knows, in the end, the triumph of high achievement and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat.


pages: 387 words: 120,155

Inside the Nudge Unit: How Small Changes Can Make a Big Difference by David Halpern

Affordable Care Act / Obamacare, availability heuristic, carbon footprint, Cass Sunstein, centre right, choice architecture, cognitive dissonance, collaborative consumption, correlation does not imply causation, Daniel Kahneman / Amos Tversky, different worldview, endowment effect, happiness index / gross national happiness, hedonic treadmill, hindsight bias, IKEA effect, illegal immigration, job satisfaction, Kickstarter, libertarian paternalism, light touch regulation, longitudinal study, market design, meta analysis, meta-analysis, Milgram experiment, nudge unit, peer-to-peer lending, pension reform, presumed consent, QR code, quantitative easing, randomized controlled trial, Richard Thaler, Right to Buy, Ronald Reagan, Rory Sutherland, Simon Kuznets, skunkworks, the built environment, theory of mind, traffic fines, twin studies, World Values Survey

Even in business, outside of marketing more nuanced thinking about what really motivates people and attracts their attention is surprisingly rare. For example, managers tend to focus too much on extrinsic rewards, notably money, and much less on all the other factors that tend to motivate people to take up a job or to work hard. Itself illustrating a behavioural effect, managers tend to think of themselves as being motivated by a wide range of factors, such as job satisfaction, but when thinking of others they tend to neglect these intrinsic factors and instead focus overly on pay and rewards. Often they would be better off walking the floor and saying thank you than worrying about the annual bonuses. Like other nudges, ‘attract!’ will be most effective where you are prompting or reminding someone to do something that they know they should probably do anyway, such as slowing down as they approach a school or paying an overdue fine.


pages: 378 words: 120,490

Roads to Berlin by Cees Nooteboom, Laura Watkinson

Berlin Wall, centre right, Deng Xiaoping, Fall of the Berlin Wall, job satisfaction, Johann Wolfgang von Goethe, Martin Wolf, means of production, Mikhail Gorbachev, Peace of Westphalia, Potemkin village, rent control

Was he looking out of a sense of duty, conviction, boredom? Did he believe in what he was doing? There was, as far as I could tell, no way that anything could ever occur between those two walls, not in that place, certainly nothing initiated by me. So what was the point of watching? Did he spend hours of unutterable boredom in the tower? Or was it pure conviction? Did heading off to that tower every morning give him a sense of job satisfaction? What I really wanted to do was go up into the tower and have a chat with him, but there was no chance of that happening. The Wall at Lübars, West Berlin, April 1989 Maybe I even had a proper look at him yesterday, without realizing that it was him. Yesterday was May Day, and I watched East German television in the evening, as I often do. This is a useful exercise in many things, but particularly semantics: how the same news is expressed in different words and therefore becomes different news.


pages: 384 words: 112,971

What’s Your Type? by Merve Emre

Albert Einstein, anti-communist, card file, correlation does not imply causation, Frederick Winslow Taylor, God and Mammon, Golden Gate Park, hiring and firing, index card, Isaac Newton, job satisfaction, late capitalism, means of production, Menlo Park, mutually assured destruction, Norman Mailer, p-value, Panopticon Jeremy Bentham, Ralph Waldo Emerson, Socratic dialogue, Stanford prison experiment, traveling salesman, upwardly mobile, uranium enrichment, women in the workforce

., 28, 29, 30, 59, 119 Michigan, 1, 4, 5, 30 Michigan Agricultural College, 1, 2, 4, 16, 40 Milgram, Stanley, 155 military, personality testing in, xvi, 142, 150, 253 Mill, John Stuart, 9 millennials, 258–59 Mills College, 197 Minima Moralia: Reflections on a Damaged Life (Adorno), 155 Moby-Dick (Melville), 94, 109 modernity, xvi, xx, 75, 105, 126, 156 see also industrial modernity moral code, disregard for, 84, 95, 101, 105, 117 Morgan, Christiana: Jung and, 98–99 Murray and, 94–96, 98–99, 101 picture cards by, 99 Moses, Barbara, 254 motherhood: grief in, 5–6, 41, 57, 100, 237–39 Helson, Ravenna and, 194, 196–97 Isabel and, 57–59, 64, 66–67, 69, 70, 118, 123, 129, 211, 237–39 Jung’s view of, 95, 98–99 and Katharine as Isabel’s critic, 56, 60, 132–33 and Katharine as Isabel’s guide, 51, 63–64, 67–69, 118–19, 124–25, 127, 132 and Katharine’s diary of child-rearing, 5, 7, 11, 13, 15, 16, 18, 62 Katharine’s parenting advice columns on, 16–18 and Katharine with Isabel as young adult, 18–19, 20, 21–25, 26–27, 28, 32–33, 42 as “profession” for Katharine, 6–7, 8–9, 10–13, 11, 14–18, 67–69 thinking vs. feeling types in, 41 see also family, as origin of MBTI Mumford, Lewis, 92, 98, 106, 107 “Murder Mystery” game, 153–54 Murder Yet to Come (Myers), 59–63, 64, 69, 81 Murphy, Gardner, 203 Murray, Henry: “Analysis of the Personality of Adolph [sic] Hitler, An,” 107, 111, 113 and ETS, 201, 202, 203 Explorations in Personality, 96 goals of, 92, 93, 94, 96, 106 on Hitler, 105–6, 107–11, 111–15 as Isabel’s first client, 139 as Jung’s friend and skeptic, 91–95, 101–2 Katharine, in comparison to, 92–93, 94, 95–96, 97–98, 100, 105–6 methodologies of, 97–101, 142, 144–45, 149–50, 152–55 on nuclear weapons, 116 and personology, 96–97, 98, 112–13, 115, 156 on predictions, 111–13, 143–44 spies, selection of, 140, 142–45, 149–50, 152–55 and TAT, 100–101, 107, 184, 201, 229 Myers, Ann: death of, 237–39 family life of, 57, 62, 221 typing of, 57, 129, 130–31, 133, 239 Myers, Clarence Gates “Chief”: as actor, 65–66 as father, 129, 238, 244 Isabel, conflict with, 129, 132, 137 Isabel, description of, 26–27 Isabel, love and marriage with, 20, 21, 22–23, 24, 26–32, 51, 61, 137 Isabel, support for, 61, 65–66, 174, 211, 240 on Isabel’s type indicator, 129, 132 Katharine, conflict with, 21, 22, 23–25, 26–27, 28, 31 political beliefs of, 26, 31–32, 115 work of, 28, 30, 31, 32, 62, 68 Myers, Isabel Briggs: overview of, xii, xiii, xvii, xix as amateur counselor, 165–66, 235 archives of, xii, xv, 262, 265 cancer and death of, 239, 240, 244 charm of, 30, 54 Chief, love and marriage with, 21, 22–23, 24, 26–27 Chief, wife of, 28–32, 51–52, 65–69, 70, 118, 123, 129, 137, 174 as child, 5–6, 10–11, 11, 14–16, 17–19, 100 college as freedom for, 20–21, 23, 25–26 descriptions of, 24, 26–27, 66, 205, 206, 222, 232, 234 ETS, work with, see ETS (Educational Testing Service) family losses of, 220–21, 227, 237–39 as Hay’s employee, 121, 122–25, 159 income and investments of, 62–63, 122, 159–60, 210, 221, 222, 233–34 and IPAR testing at “house party,” 180, 186, 194, 199–200 Jung, approach to, see Myers-Briggs Type Indicator (MBTI), Jung’s theories as basis for Jung, meeting with, 102–3 Katharine as critic of, 56, 60, 132–33 Katharine as guide for, 51, 63–64, 67–69, 118–19, 124–25, 127, 132 literary education of, 22 McCaulley and, 230–37, 242–44 as mother, 57–59, 64, 66–67, 69, 70, 118, 123, 129, 237–39 motivations of, 31–32, 34, 93, 117–19, 124, 142, 232 paranoia of, 211, 212 political positions of, 25–26, 31–32, 125 publishing award of, 61–64 questionnaires by, xiii, 7, 43, 93, 128–32, 135–36, 214 self-doubts of, 64–65, 69, 117, 160, 219, 221 type business, building, see business, growth of MBTI in type indicator, developing, 117–19, 127–34 type indicator, pitching, 134–35, 206–7 type of, 49, 57, 129, 132, 230, 239 types in fiction of, 56, 60–61 typing, origin of, see family, as origin of MBTI vision of, 79 as writer, 51–52, 56–57, 58–65, 69–70, 118 Myers, Isabel Briggs, writings of: Death Calls for Margin, 65–66 “Diary of an Introvert Determined to Extravert, Write, & Have a Lot of Children,” 51–52, 53, 56, 118 Gifts Differing, 29 Give Me Death, 69–70, 118, 134 Murder Yet to Come, 59–63, 64, 69, 81 Type as the Index to Personality, 137 Myers, Jonathan Briggs, 223–24 Myers, Kathy (wife of Peter), 243, 252, 257–58 Myers, Peter: adulthood, 163, 221, 243, 244, 252 childhood, 57, 62, 79, 81, 122 typing of, 57, 129, 130–31, 133 Myers & Briggs Foundation, 262 Myers-Briggs Type Indicator (MBTI): overview of, xii, xiii–xiv, xvii, xix–xx attraction of, xvi, xvii–xviii, xix, 45 business growth of, see business, growth of MBTI in certification programs for, xii–xv, 252, 262–67, 268 cheating on, 170–73 in corporations, see corporations CPP as publisher for, xv, 186, 241–44, 248–49, 252, 257 critiques of, 149, 161, 172–73, 210, 214–19, 267–68 development of, 117–19, 127–34 dilution of, 242, 256–60 ETS as publisher for, see ETS (Educational Testing Service) and executives, 164–65, 253, 254 global influence of, xvi, xviii, 256 grids of types for, 46, 47, 138 Hay and Associates as publisher for, 134–35, 137, 159, 163–64, 166, 228 index cards, use of, 127, 207, 213, 214 initials, origin of use in, 131, 138, 205 and intelligence differences, 167 and IPAR “house party” testing, 180, 181, 184, 185, 186, 194, 199–200 ironic view of, 256–60 job satisfaction and, 124–25, 135–36, 160–62, 166–67, 264 Jung’s theories and, see Myers-Briggs Type Indicator (MBTI), Jung’s theories as basis for knock-off versions of, 259–60 as language, xii–xv, xviii marketing of, 245, 251, 252, 257, 260 and McCaulley, 232–37, 241–44, 257, 269 name of, 119, 204 origins of, see family, as origin of MBTI pricing of, 137, 164, 262 publishers of, see publishers, of MBTI racialized interpretation of, 169–70, 233 rationale for, 124, 125, 134–35, 205–7, 219–20 as religion substitute, xvi, xviii, 44, 133 results, immutability of, xiv–xv, xxi–xxii, 45, 149, 263–64 results, inconsistency of, 168–70, 241–42, 248–49, 263–64 scoring of, 135, 195, 208, 210–11, 213, 232–33, 243 self-scoring version of, 243 and “speaking type,” xiii–xv, 56, 263 for spy selection in World War II, 142, 147, 149, 150 vs.


Sam Friedman and Daniel Laurison by The Class Ceiling Why it Pays to be Privileged (2019, Policy Press)

affirmative action, Boris Johnson, discrete time, Donald Trump, Downton Abbey, equal pay for equal work, gender pay gap, gig economy, Gini coefficient, glass ceiling, Hyperloop, if you build it, they will come, income inequality, invisible hand, job satisfaction, knowledge economy, longitudinal study, meta analysis, meta-analysis, nudge unit, old-boy network, performance metric, psychological pricing, school choice, Skype, starchitect, The Spirit Level, unpaid internship, upwardly mobile

Dutton & Co. Jonsson, J.O., Grusky, D.B., Di Carlo, M., Pollak, R. and Brinton, M.C. (2009) ‘Microclass mobility: Social reproduction in four countries’, American Journal of Sociology, 114(4), 9771036 (https://doi.org/10.1086/592200). Judge, T.A. and Bono, J.E. (2001) ‘Relationship of core selfevaluations traits – self-esteem, generalized self-efficacy, locus of control, and emotional stability – with job satisfaction and job performance: A meta-analysis’, Journal of Applied Psychology, 86(1), 80-92 (https://doi.org/http://dx.doi. org/10.1037/0021-9010.86.1.80). Kant, I. ([1790] 1987) Critique of judgment, UK: Hackett Publishing Co. Kanter, R.M. (1993) Men and women of the corporation (2nd edn), New York: Basic Books. Kehal, P.S. (no date) ‘Racializing meritocracy: Ideas of excellence and exclusion in faculty diversity’, Unpublished PhD disseration, Brown University, RI.


pages: 573 words: 115,489

Prosperity Without Growth: Foundations for the Economy of Tomorrow by Tim Jackson

"Robert Solow", bank run, banking crisis, banks create money, Basel III, basic income, bonus culture, Boris Johnson, business cycle, carbon footprint, Carmen Reinhart, Cass Sunstein, choice architecture, collapse of Lehman Brothers, creative destruction, credit crunch, Credit Default Swap, David Graeber, decarbonisation, dematerialisation, en.wikipedia.org, energy security, financial deregulation, Financial Instability Hypothesis, financial intermediation, full employment, Growth in a Time of Debt, Hans Rosling, Hyman Minsky, income inequality, income per capita, Intergovernmental Panel on Climate Change (IPCC), Internet of things, invisible hand, job satisfaction, John Maynard Keynes: Economic Possibilities for our Grandchildren, Joseph Schumpeter, Kenneth Rogoff, Kickstarter, laissez-faire capitalism, liberal capitalism, Mahatma Gandhi, mass immigration, means of production, meta analysis, meta-analysis, moral hazard, mortgage debt, Naomi Klein, new economy, offshore financial centre, oil shale / tar sands, open economy, paradox of thrift, peak oil, peer-to-peer lending, Philip Mirowski, profit motive, purchasing power parity, quantitative easing, Richard Thaler, road to serfdom, Robert Gordon, Ronald Reagan, science of happiness, secular stagnation, short selling, Simon Kuznets, Skype, smart grid, sovereign wealth fund, Steve Jobs, The Chicago School, The Great Moderation, The Rise and Fall of American Growth, The Spirit Level, The Wealth of Nations by Adam Smith, Thorstein Veblen, too big to fail, universal basic income, Works Progress Administration, World Values Survey, zero-sum game

‘Unburnable Carbon: wasted capital and stranded assets’. London: Carbon Tracker. Online at www.carbontracker.org/wp-content/uploads/2014/09/Unburnable-Carbon-2-Web-Version.pdf (accessed 23 July 2016). Carbon Trust 2006. The Carbon Emissions in All That We Consume. London: Carbon Trust. Castel, D., C. Lemoine and A. Durand-Delvigne 2011. ‘Working in cooperatives and Social Economy: Effects on Job Satisfaction and the Meaning of Work’. Perspectives interdisciplinaires sur le travail et la santé 13(2). Online at http://pistes.revues.org/2635. Chambers, Robert and Gordon Conway 1992. ‘Sustainable rural livelihoods: practical concepts for the 21st century’. IDS Discussion Paper 296PASSAGE Working Paper 14-03. Brighton: Institute for Development Studies. Online at www.ids.ac.uk/publication/sustainable-rural-livelihoods-practical-concepts-for-the-21st-century (accessed 3 February 2016).


pages: 364 words: 119,398

Men Who Hate Women: From Incels to Pickup Artists, the Truth About Extreme Misogyny and How It Affects Us All by Laura Bates

4chan, Ada Lovelace, Boris Johnson, cognitive dissonance, coherent worldview, Dominic Cummings, Donald Trump, feminist movement, Filter Bubble, gender pay gap, glass ceiling, Grace Hopper, job satisfaction, Kickstarter, off grid, recommendation engine, ride hailing / ride sharing, Snapchat, young professional

Assuming the household role of head, provider and protector. Treating female spouses and children as vulnerable secondary dependents, extensions of the self or property, instead of equal partners and sources of support. Prioritising strength, physical prowess and sexual triumph over intellect, emotional intelligence and friendship. Secretive self-flagellation and self-medication over admission of failure. Money and status over job satisfaction. Career over parental involvement. Society over self. All this is true. But it is too often assumed that the potential damage we highlight is only damage to women and children, when the truth is that the damage toxic masculinity causes to men and boys is also enormous. The problem, I am repeatedly told by boys, men and activists, is that, when we say ‘toxic masculinity’, people hear ‘toxic men’.


pages: 463 words: 115,103

Head, Hand, Heart: Why Intelligence Is Over-Rewarded, Manual Workers Matter, and Caregivers Deserve More Respect by David Goodhart

active measures, Airbnb, Albert Einstein, assortative mating, basic income, Berlin Wall, Bernie Sanders, big-box store, Boris Johnson, Branko Milanovic, British Empire, call centre, Cass Sunstein, central bank independence, centre right, computer age, corporate social responsibility, COVID-19, Covid-19, David Attenborough, David Brooks, deglobalization, deindustrialization, delayed gratification, desegregation, deskilling, different worldview, Donald Trump, Elon Musk, Etonian, Fall of the Berlin Wall, Flynn Effect, Frederick Winslow Taylor, future of work, gender pay gap, gig economy, glass ceiling, illegal immigration, income inequality, James Hargreaves, James Watt: steam engine, Jeff Bezos, job automation, job satisfaction, John Maynard Keynes: Economic Possibilities for our Grandchildren, knowledge economy, knowledge worker, labour market flexibility, longitudinal study, low skilled workers, Mark Zuckerberg, mass immigration, new economy, Nicholas Carr, oil shock, pattern recognition, Peter Thiel, pink-collar, post-industrial society, post-materialism, postindustrial economy, precariat, reshoring, Richard Florida, Scientific racism, Skype, social intelligence, spinning jenny, Steven Pinker, superintelligent machines, The Bell Curve by Richard Herrnstein and Charles Murray, The Rise and Fall of American Growth, Thorstein Veblen, twin studies, Tyler Cowen: Great Stagnation, universal basic income, upwardly mobile, wages for housework, winner-take-all economy, women in the workforce, young professional

Jobs that have a high level of satisfaction but not necessarily a high level of pay, such as working as a National Trust park ranger, are already highly sought after. And in the countryside, as conventional farming is increasingly replaced by organic farming, with its more labor-intensive concern for nature and animal welfare, new agricultural Heart jobs will be created. Public policy, so far as possible, should have a bias toward work that produces high job satisfaction. That often means working in a team solving problems together against a common adversary. Many of the craft jobs that disappeared over the course of the twentieth century, such as stonemason or thatcher, are now making a comeback. Beautiful old buildings require a skilled workforce to keep them standing. The art of weaving was showcased for the first time at the Frieze London art show in 2019.


pages: 389 words: 112,319

Think Like a Rocket Scientist by Ozan Varol

Affordable Care Act / Obamacare, Airbnb, airport security, Albert Einstein, Amazon Web Services, Andrew Wiles, Apple's 1984 Super Bowl advert, Arthur Eddington, autonomous vehicles, Ben Horowitz, Cal Newport, Clayton Christensen, cloud computing, Colonization of Mars, dark matter, delayed gratification, different worldview, discovery of DNA, double helix, Elon Musk, fear of failure, functional fixedness, Gary Taubes, George Santayana, Google Glasses, Google X / Alphabet X, Inbox Zero, index fund, Isaac Newton, James Dyson, Jeff Bezos, job satisfaction, Johannes Kepler, Kickstarter, knowledge worker, late fees, lateral thinking, lone genius, longitudinal study, Louis Pasteur, low earth orbit, Marc Andreessen, Mars Rover, meta analysis, meta-analysis, move fast and break things, move fast and break things, multiplanetary species, obamacare, Occam's razor, out of africa, Peter Thiel, Pluto: dwarf planet, Ralph Waldo Emerson, Richard Feynman, Richard Feynman: Challenger O-ring, Ronald Reagan, Sam Altman, Schrödinger's Cat, Search for Extraterrestrial Intelligence, self-driving car, Silicon Valley, Simon Singh, Steve Ballmer, Steve Jobs, Steven Levy, Stewart Brand, Thomas Kuhn: the structure of scientific revolutions, Thomas Malthus, Upton Sinclair, Vilfredo Pareto, We wanted flying cars, instead we got 140 characters, Whole Earth Catalog, women in the workforce, Yogi Berra

With help from the ground, astronauts figured out a way—using tube socks and duct tape, among other random objects—to fit a square peg into a round hole.83 There are important lessons here for us all. When we face uncertainty, we often manufacture excuses for not getting started. I’m not qualified. I don’t feel ready. I don’t have the right contacts. I don’t have enough time. We don’t start walking until we find an approach that’s guaranteed to work (and preferably one that comes with job satisfaction and a six-figure salary). But absolute certainty is a mirage. In life, we’re required to base our opinions on imperfect information and make a call with sketchy data. “We didn’t know what we were doing when we landed” on Mars, Squyres admits. “How can you know what you’re doing when no one has done it before?” If our group had postponed until the choices presented themselves with perfect clarity—until we had perfect information about our landing sites so we could design the perfect set of tools for them—we never would have gotten to Mars.


pages: 482 words: 122,497

The Wrecking Crew: How Conservatives Rule by Thomas Frank

affirmative action, anti-communist, barriers to entry, Berlin Wall, Bernie Madoff, British Empire, business cycle, collective bargaining, corporate governance, Credit Default Swap, David Brooks, edge city, financial deregulation, full employment, George Gilder, guest worker program, income inequality, invisible hand, job satisfaction, Mikhail Gorbachev, Mont Pelerin Society, mortgage debt, Naomi Klein, Nelson Mandela, new economy, P = NP, plutocrats, Plutocrats, Ponzi scheme, Ralph Nader, rent control, Richard Florida, road to serfdom, rolodex, Ronald Reagan, school vouchers, shareholder value, Silicon Valley, stem cell, Telecommunications Act of 1996, the scientific method, too big to fail, union organizing, War on Poverty

These inconceivable expenditures—this greatest security effort ever, mounted by the mightiest nation in history—and it was all for nothing. We might as well have piled the banknotes up in a pasture somewhere and set them afire. From first to last the New Orleans disaster was a test of Bush’s “market-based” government. To start with, we have FEMA as it was in 2000, a well-run, freestanding federal agency whose employees reported high morale and job satisfaction; candidate George W. Bush even praised the agency in one of his debates with Al Gore. President George W. Bush then put FEMA under the charge of Joe Allbaugh, a Texas winger with no disaster experience but a long history at Bush’s side; Allbaugh proceeded to fill the place with political appointees and incompetent pals like the soon-to-be-notorious Michael Brown. Two years later Allbaugh left “Brownie” in charge and opened a lobby shop, representing companies that specialized in disaster relief and big reconstruction projects, much needed in Iraq in those days.


pages: 516 words: 128,667

Up and Down Stairs: The History of the Country House Servant by Jeremy Musson

clean water, invention of the telegraph, job satisfaction, period drama

Looking back on those pre-war days, Mrs Birkbeck feels that in many ways she was ‘brought up by the servants’ and stresses her personal view of them: ‘they were wonderful people – my grateful memories of their friendship, loyalty and love know no bounds.’120 Sir Peregrine Worsthorne, former editor of the Telegraph, recalled in his recent memoirs the butler who served his mother and his grandmother, James Burton: ‘James embodied job satisfaction long before it was invented . . . Having him as a member of our family brought us many advantages over and above the advantages of what he did as a butler so well. If we broadened his horizons, he certainly broadened ours.’121 Sir Peregrine also recalled how James, a First World War veteran of the trenches, became as butler: ‘an expert on the care and maintenance of beautiful furniture, pictures silver, objets d’art as well as wines – notably champagnes.’


pages: 448 words: 117,325

Click Here to Kill Everybody: Security and Survival in a Hyper-Connected World by Bruce Schneier

23andMe, 3D printing, autonomous vehicles, barriers to entry, bitcoin, blockchain, Brian Krebs, business process, cloud computing, cognitive bias, computer vision, connected car, corporate governance, crowdsourcing, cryptocurrency, cuban missile crisis, Daniel Kahneman / Amos Tversky, David Heinemeier Hansson, Donald Trump, drone strike, Edward Snowden, Elon Musk, fault tolerance, Firefox, Flash crash, George Akerlof, industrial robot, information asymmetry, Internet of things, invention of radio, job automation, job satisfaction, John Markoff, Kevin Kelly, license plate recognition, loose coupling, market design, medical malpractice, Minecraft, MITM: man-in-the-middle, move fast and break things, move fast and break things, national security letter, Network effects, pattern recognition, profit maximization, Ralph Nader, RAND corporation, ransomware, Rodney Brooks, Ross Ulbricht, security theater, self-driving car, Shoshana Zuboff, Silicon Valley, smart cities, smart transportation, Snapchat, Stanislav Petrov, Stephen Hawking, Stuxnet, The Market for Lemons, too big to fail, Uber for X, Unsafe at Any Speed, uranium enrichment, Valery Gerasimov, web application, WikiLeaks, zero day

(ISC)² (accessed 24 Apr 2018), “(ISC)² information security certifications,” https://www.isc2.org/Certifications. 140The International Organization for Standardization (ISO): International Organization for Standardization (accessed 24 Apr 2018), “ISO/IEC 27000 family: Information security management systems,” http://www.iso.org/iso/home/standards/management-standards/iso27001.htm. 141Various reports forecast 1.5 million: Julie Peeler and Angela Messer (17 Apr 2015), “(ISC)² study: Workforce shortfall due to hiring difficulties despite rising salaries, increased budgets and high job satisfaction rate,” (ISC)² Blog, http://blog.isc2.org/isc2_blog/2015/04/isc-study-workforce-shortfall-due-to-hiring-difficulties-despite-rising-salaries-increased-budgets-a.html. Jeff Kauflin (16 Mar 2017), “The fast-growing job with a huge skills gap: Cyber security,” Forbes, https://www.forbes.com/sites/jeffkauflin/2017/03/16/the-fast-growing-job-with-a-huge-skills-gap-cyber-security. ISACA (Jan 2016), “2016 cybersecurity skills gap,” https://image-store.slidesharecdn.com/be4eaf1a-eea6-4b97-b36e-b62dfc8dcbae-original.jpeg.


pages: 397 words: 121,211

Coming Apart: The State of White America, 1960-2010 by Charles Murray