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In this ground breaking contribution to Marxist economic theory, Peter H. Jones provides a comprehensive analysis of profit rates in the lead up to the Great Recession. The Falling Rate of Profit and the Great Recession of 2007-2009 develops a new interpretation of Marx's labour theory of value rooted in non-equilibrium, and applies this theory to US national accounting data. In so doing Jones shows that, when measured correctly, the profit rate falls in the lead up to the Great Recession due to the rising organic composition of capital-the primary reason for crises in Marx's own account. From there Jones also details a new theory of finance, showing how cycles in the profit rate relate to stock market booms and slumps, and movements in the interest rate. He then discusses the implications of this analysis, and Marx and Engels' work generally, for a democratic socialist strategy.
This book was written as a response to the positive and heartening reception to a series of articles published (online and print) on innovative interventions in organizations. The core message of We Tried to Warn You is that every day, micro-failures of communication and their cover-ups can accumulate, and enable a network of decisions that lead to systemic-level failures of organizations. I report on first hand experiences as an organizational participant, and more recently as a design/management consultant, informed by the substantive research published over the years by key authors I have learned from, and cite in the book. We Tried to Warn You presents a case study in compact form, with identifying details obscured to protect the great and the guilty alike. I focus emphasis on the knowledge-based practices that enable organizations to sense and make decisions from critical feedback from customers in the field, especially the multidisciplinary field now known as "user experience" (or UX). UX has become a primary conduit for understanding "real users" and their needs in current organizations worldwide. UX is often involved throughout all phases of a project, from user research, to product concept design, to final design and user testing. As a still-emerging knowledge discipline, UX practices were developed in the case organization as a response to a systemic failure, with outstanding positive results. The book also shares lessons learned from a process called socialization, which distributes leadership and skill development among organizational players in the formation of key strategic practices such as UX.
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