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December 2014
Today, on Black Friday, and right before Cyber Monday—the biggest shopping days of the year—Ed and I thought it would be fun to discuss the interesting, funny, and thought-provoking book by Joel Waldfogel: Scroogenomics: Why You Shouldn’t Buy Presents for the Holidays.
November 2014
I can remember finding a rare first edition of Stanley Marcus’ book Quest for the Best in a used bookstore in San Diego. I had been searching for this book for a couple of years, since this was before the Internet, and was elated when I stumbled across it by chance. As soon as I skimmed through it and learned it was in good condition, and autographed by Stanley himself, I would have been willing to pay $100 for it. Of course, the bookstore owner had no idea, nor does he even know me or of my desire to own this rare book. He priced it at $10. I can assure you I did not offer to split the difference between my value price and his asking price. I left the store, as an economist would say, $90 wealthier, keeping the entire consumer surplus to myself.
October 2014
Companies lose knowledge from people leaving, forgetting, retiring, and so on. Knowledge also becomes obsolete (what Alvin Toffler calls obsoledge) and must be constantly replenished. No one knows what the cost of this lost knowledge might be. Given the coming demographic trends, how can knowledge organizations capture some of that valuable knowledge before it is lost, like the lost Library of Alexandria?
Before we can leverage this knowledge, we must first understand how knowledge is possessed.
September 2014
AUGUST 2014
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