"In Russia and other transition economies that have implemented voucher privatization programs, how can one account for the puzzling behavior of insider-managers who, in stripping assets from the very firms they own, appear to be stealing from one pocket to fill the other?"--Cover.
Breaking the Vicious Circle is a tour de force that should be read by everyone who is interested in improving our regulatory processes. Written by a highly respected federal judge, who obviously recognizes the necessity of regulation but perceives its failures and weaknesses as well, it pinpoints the most serious problems and offers a creative solution that would for the first time bring rationality to bear on the vital issue of priorities in our era of limited resources.
In The Pension Fund Revolution, originally published nearly two decades ago under the title The Unseen Revolution, Drucker reports that institutional investors, especially pension funds, have become the controlling owners of America's large companies, the country's only capitalists. He maintains that the shift began in 1952 with the establishment of the first modern pension fund by General Motors. By 1960 it had become so obvious that a group of young men decided to found a stock-exchange firm catering exclusively to these new investors. Ten years later this firm (Donaldson, Lufkin & Jenrette) became the most successful, and one of the biggest, Wall Street firms. Drucker's argument, that through pension funds ownership of the means of production had become socialized without becoming nationalized, was unacceptable to the conventional wisdom of the country in the 1970s. Even less acceptable was the second theme of the book: the aging of America. Among the predictions made by Drucker in The Pension Fund Revolution are: that a major health care issue would be longevity; that pensions and social security would be central to American economy and society; that the retirement age would have to be extended; and that altogether American politics would increasingly be dominated by middle-class issues and the values of elderly people. While readers of the original edition found these conclusions hard to accept, Drucker's work has proven to be prescient. In the new epilogue, Drucker discusses how the increasing dominance of pension funds represents one of the most startling power shifts in economic history, and he examines their present-day Impact. The Pension Fund Revolution is now considered a classic text regarding the effects of pension fund ownership on the governance of the American corporation and on the structure of the American economy altogether. The reissuing of this book is more timely now than ever. It provides a wealth of information for sociologists, economists, and political theorists.
"Covers the core concepts and theories of production and operations management in the global as well as Indian context. Includes boxes, solved numerical examples, real-world examples and case studies, practice problems, and videos. Focuses on strategic decision making, design, planning, and operational control"--Provided by publisher.
We usually live our lives in vicious cycles. We hardly can get out of them or break loose from their control. Sometimes they are related to some place, time, person, or event. Other times they are related to an idea so deeply planted inside us that we can't come out of its cocoon. Maybe they are related to a connection that we can't be free from its restrictions. Finally, sometimes they are related to ourselves; body and soul. We invent those circles or they are imposed upon us. Then we live within their borders. We rejoice them first, and then we complain. Or, we complain from them first, and then we give up ourselves to them happily. We try to break loose a lot, although the constraint, unconsciously, makes up happy. Or, we often look for a constraint to protect us from what our souls were created and imprinted to love; the freedom. We struggle with ourselves, others, and life; although we mostly don't know what we really want. Moreover, we do not dare to look for what we want. This is why most of us live in ... vicious circles.
Richard received his education on the East Coast: A Master's degree at the Fletcher School of Law and Diplomacy, and a Ph.D. in Economics at Rutgers University in New Brunswick, N.J. Both Richard and June were raised in the inner city of Newark, went to the same high school, and were married in 1954. June received a bachelor's degree from Portland State University and a Ph.D. from the University of Oregon, both in Sociology. This interconnection between the economic and sociological permeates their basic research focus which, overall, is directed toward an analysis of the dynamics of culture evolution. Richard's and June's current research interests relate to the interrelation between globalization and culture.