Economics and Evolution: Bringing Life Back into Economics (Economics, Cognition, and Society)

Book Description

Economic theory is currently at a crossroads, where many leading mainstream economists are calling for a more realistic and practical orientation for economic science. Indeed, many are suggesting that economics should be reconstructed on evolutionary lines.

This book is about the application to economics of evolutionary ideas from biology. It is not about selfish genes or determination of our behavior by genetic code. The idea that evolution supports a laissez-faire policy is rebutted. The conception of evolution as progress toward greater perfection, along with the competitive individualism sometimes inferred from the notion of the "survival of the fittest," is found to be problematic. Hodgson explores the ambiguities inherent in biology and the problems involved in applying ideas of past economic thinkers--including Malthus, Smith, Marx, Marshall, Veblen, Schumpeter, and Hayek--and argues that the new evolutionary economics can learn much from the many differing conceptions of economic evolution.

"This is a work of enormous perceptivity and subtlety as well as judiciousness of interpretation and critique . . . [that] establish[es] Hodgson as the leading institutional theorist, and as one of the leading evolutionary theorists, of his generation." --Warren J. Samuels

"A daring and successful attempt to expunge the monopoly of reductionist and mechanistic thinking over evolutionary theory . . . a must for anyone who is interested not only in the foundations of economics, but also in the foundations of social theory." --Elias L. Khalil, Ohio State University

Geoffrey M. Hodgson is University Lecturer in Economics, Judge Institute for Management Studies, University of Cambridge.

Customer Reviews:

Nice, but with confusion over reductionism, and 'mechanism'.......2001-04-08

"People just do not maximize (utility) on a selfish basis every minute....the system would not work if they did...a consequence of that hypothesis would be the end of organized society."

K. Arrow

The author begins with the key question: why, in orthodox economic theory (neo-classical economics) is math superficially raised to such unwarranted heights while attempts to face empirical reality are so weak? Hodgson presents a stimulating (if too philosophic and also nonempiric) discussion of the ideas of Darwin, Smith, Spencer, Marx, Veblen, Marshall, Mayer, Schumpeter, and especially Hayek. A main question is: in a biologic analogy what, if any, are the economic anaogs of genes, the relatively invariant elements, the 'elementary particles' of a local economic system from which 'mutations' and 'selection' by the environment (the rest of the world economic system) can be understood.

Connected with the lack of obvious invariants in economic reality is the question how one can meaningfully divide the global system into 'isolated model equations plus environment.' If nothing can be isolated then it is impossible to discover any rule of mathematical law of time evolution. In particular, we cannot then treat the environment as an external field that 'selects' economically, unless we can empirically-accurately make the arbitrary division into 'system with initial conditions, plus environment'. This is in part a question of time scales.

Another problem is the author's confusion over the idea of 'evolution'. For evolution, meaning motion in time, to occur, organic behavior is not required. Every dynamical system has a time evolution operator that generates the trajectory. That mathematical analogs of mutations can be built into continuous time dynamical systems is likely because even certain Newtonian dynamical systems may be capable of universal computational capacity (maximum computational complexity, equivalent to a Turing machine). Therefore it is, at this stage, superficial to believe that the idea of organism is in conflict with the notion of mechanism. Every mathematical model is an example of 'mechanism' (1), albeit not necessarily Newtonian mechanism.

Third, (and correctly) implicit in the discussion is that complete reductionism (explanation of biology and economics in terms of quarks or atoms, e.g.) is mathematically impossible (in quantum theory, an Ohm meter has no definite reading, while DNA in nature behaves like a classical computer) and that some idea of hierarchy of description is necessary. But, how to identify empirically the necessary approximately invariant element in order to build a theory of this? Dawkins's idea of the reduction of behavior to genes is badly treated, but we really cannot rule out at this stage that some forms of mental behavior, at least, might be genetically determined, just as some known illnesses are genetically determined. Genetics 'looks like' physics precisely because genes are approximately invariant, like inertial masses. This analogy is not an accident. Mendel was trained in physics in Vienna, not in biology or philosophy.

Hayek's extreme free market ideas, usually not to be found in texts in the US, are given two chapters. One chapter is dedicated to his idea of the emergence of spontaneous order, which presumes (without any empirical evidence whatsoever) the existence of a stable, optimal outcome of an unregulated free market (he sketches the history of the emergence of the hierarchy of markets as a possible example). If such an outcome were guaranteed, as Hayek assumed, then we could do away with central banks (and forget Greenspan!), and denationalize money as The Austrian School of Economics advocates. The whole problem of the idea of preferences (utility functionals), however, is that they are neither time- nor path-independent.

In general, the orthodox school (and also Hayek) optimizes something or other (utility, or something else) whereas biological systems seem not to optimize anything, rather they are error-prone and error-correcting via gross redundancy (this was discussed mathematically by von Neumann). Maybe biological systems do not optimize anything. Likewise for economic systems.

The book is excessively philosophic, in the pre-scientific Aristotelian tradition. C. S. Pierce and John Dewey (who guaranteed that US public schools would be anti-academic, in part by making high schools a continuation of primary education instead of a transition to secondary education (see Hannah Arendt's Between 'Past and Future')). The author is dangerously unfriendly to Descartes, Galileo, and Newton (as if deterministic chaos were somehow a nonNewtonian phenomenon!) but based on a lack of understanding of how scientific knowledge is discovered. For a book on modern bioinformatics that makes the necessity of reductionism in biology quite clear, see W. R. Loewenstein's 'The Touchstone of Life: mplecular Information, Cell communication, and the foundations of Life'. This misfortune is connected with the usual failure to understand the difference between mathematical models and mathematical laws of nature that are based on observed local invariance principles, like the principle of relativity (the first physical principle discovered by Galileo). Popperian falsification is also given the short-schrift, praising Pierce against Descartes on the role of belief vs. skepticism!

Finally, metaphors are only used in the early stages of a theory when one understands little or nothing. Newtonian and Maxwellian laws, when generalized to admit 'learning' ala Hopfield's model of neural networks, are capable of universal computational capability. What can come out of these systems mathematically is therefore in principle unlimited. Whether they will be useful in understanding (macro-) biology and/or economics, or whether some simpler form of modelling will be more useful is still an open question.

I found the book to be both enlightening and irritating. The main important question raised the book: is anything out there approximately invariant, or is the use of mathematics and/or biologic ideas in economics relatively hopeless?

superb survey and novel presentation of economic ideas.......1999-02-12

Geoffrey Hodgson's work is a welcome relief from the economic drivel peddled by the interests of the powerful. More importantly, he shows the substantive links bewteen economics and our lives as biological agents in a multdimensional ecology we barely understand. In the process he examines the strengths and weaknesses of many of the great economic thinkers of the past. It is a call to arms for all those who see consequences of bad economic thinking all around them in devastated communities and diminished ecosystems. This is a must read for all those dissatisfied with our current economic world view and want to debate economists on their own terms.

Economics and Evolution: Bringing Life Back into Economics. (book reviews): An article from: Journal of Economic Issues

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Economics and Evolution: Bringing Life Back into Economics. (book reviews): An article from: Journal of Economic Issues
Norman Clark
Manufacturer: Association for Evolutionary Economics
ProductGroup: Book
Binding: Digital
ASIN: B00092XI3A
Release Date: 2005-07-28

Book Description

This digital document is an article from Journal of Economic Issues, published by Association for Evolutionary Economics on September 1, 1994. The length of the article is 1467 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Economics and Evolution: Bringing Life Back into Economics. (book reviews)
Author: Norman Clark
Publication: Journal of Economic Issues (Refereed)
Date: September 1, 1994
Publisher: Association for Evolutionary Economics
Volume: v28 Issue: n3 Page: p939(5)

Article Type: Book Review

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Economics and Evolution: Bringing Life Back into Economics. (book reviews): An article from: Southern Economic Journal

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Economics and Evolution: Bringing Life Back into Economics. (book reviews): An article from: Southern Economic Journal
Munir Quddus
Manufacturer: Southern Economic Association
ProductGroup: Book
Binding: Digital

General | Business & Investing | Subjects | Books

Book Description

This digital document is an article from Southern Economic Journal, published by Southern Economic Association on October 1, 1995. The length of the article is 1085 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Economics and Evolution: Bringing Life Back into Economics. (book reviews)
Author: Munir Quddus
Publication: Southern Economic Journal (Refereed)
Date: October 1, 1995
Publisher: Southern Economic Association
Volume: v62 Issue: n2 Page: p520(2)

Article Type: Book Review

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Economics and Evolution : Bringing Life Back into Economics (Economics, Cognition, and Society)

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Economics and Evolution : Bringing Life Back into Economics (Economics, Cognition, and Society)
Geoffrey Hodgson
Manufacturer: NY
ProductGroup: Book
Binding: Paperback
ASIN: B000MU932E

Book Description

Today's businesses have multiple offices, mobile workers, telecommuters, and virtual offices. How do they all keep in touch, share information, and collaborate? This book offers an easy-to-understand explanation of the technology available for connecting employees. Readers will learn about inexpensive networking alternatives, software, installation, types of connections, security, and administration. The book also discusses how to use the Internet to communicate with instant messaging and file sharing. With the geek-free advice in this book, readers will discover the most economical and efficient way to keep in touch with employees and business contacts.

Customer Reviews:

Networking on a Shoestring.......2002-02-18

I run a small business and don't have the largest bank account. When I read other books and starting applying their advise, I figured it would cost thousands of dollars to get my network setup and ready for use. This book saved me a substantial amount of money, made it easy for me to build a network from scratch, and helped me create a networking environment that really works for my business. No, it doesn't contain a lot of fancy solutions that cost a lot to implement, but that's the point, isn't it? If you want a no-nonsense book that tells you how to build a network without all of the expense, then this is the book to buy.

really simplistic.......2002-02-13

Nothing on routers,switches,broadband. Although the ccopyright
is 2001, this book could have been written 10 years ago.
HOWEVER, if all you have is a dial-up modem, this book will help you.

Good down to earth advice on home networking.......2002-02-04

If you want to connect two or more pc's to share a broadband internet connection or printer, or need to set up a small office network, this is the book for you. Covers a multitude of topics, including wireless, phoneline, 10BaseT Ethernet, etc. Written for the not-too-technical reader.

An excellent book for novice & intermediate users.......2001-11-17

If you are computer literate yet lack the fundamentals on assembling a small to medium size network, then this is the book for you. It is a very readable source of information that helps you determine your needs and then presents a variety of options--from common to sometimes bizarre. There is a lot of good advice on conserving costs while optimizing performance and chapters that explore the basics of network security, software, first aid and performance issues. The text has appropriately necessary diagrams & illustrations, an excellent glossary & appendix of tips, and generous references to online sources for further information. This is probably the best beginner to intermediate level book on the subjects covered, at a reasonable price.

Great book for companies that have remote workers!.......2001-10-26

Although this book is a great publication for the SOHO (Small Office Home Office) user community, it's a even greater buy for companies with any amount of remote workforce. I would go as saying that it should be recommended reading for remote workers or even giving it out as a part of the orientation package for new employees that will be working remotely. The book is easy to read and provides practical information for the novice and even the expert to polish on his/her skills.

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Party with a Purpose

Party with a Purpose: The Psychological Secrets to Recruiting and Retaining Party Plan Partners
Pat Pearson
Manufacturer: INTI Publishing & Resource Books
ProductGroup: Book
Binding: Paperback

General | Business & Investing | Subjects | Books
General | Sales & Selling | Marketing & Sales | Business & Investing | Subjects | Books
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Build It Big: 101 Insider Secrets from Top Direct Selling Experts

Stop Self-sabatoge!: How to Get Out of Your Own Way and Have an Extraordinary Life

Making Millions in Direct Sales: The 8 Essential Activities Direct Sales Managers Must Do Every Day to Build a Successful Team and Earn More Money

Presentations for Profits

More Build It Big: 101 Insider Secrets from Top Direct Selling Experts

ASIN: 1891279149

Customer Reviews:

Party with a Purpose.......2007-08-11

This book put me back in touch with the reasons I joined a Party Plan business. It reminded me how we can have an effect on other's lives by sharing a gift of owning their own business and how precious that gift can be. Pat Pearson knows and shows us how women's emotions and feelings can help or hinder us with our business once we understand how it affects us. With this knowledge, we can certainly make a difference in our lives and others. This book put me and my heart back in my business of helping others build and reach their dreams.
Sincerely, Bobby Frye

Executive Reports: The Industry Guide for Selling Software to Top U.S. Companies: 100+ C-Level Executives (CEO, CFO, CTO, CMO, Partner) From the World's ... of Their Business (Executive Reports)

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Executive Reports: The Industry Guide for Selling Software to Top U.S. Companies: 100+ C-Level Executives (CEO, CFO, CTO, CMO, Partner) From the World's ... of Their Business (Executive Reports)
Aspatore Books
Manufacturer: Aspatore Books
ProductGroup: Book
Binding: Paperback

General | Business & Investing | Subjects | Books

Book Description

This insider look at over 30 major industries and professions is the ideal tool for software executives and salespeople who need to "get smart fast" before a client meeting, sales pitch or other event. Each industry overview has sections written by current, leading C-Level executives (CEOs, CFOs, CTOs, CMOs, Partners) from their respective industries and enables you to speak intelligently with anyone after being "briefed" by a leading executive from that industry. In addition, the book includes parts written by leading CTOs from Global 500 Companies on the types of products, solutions and software that they are looking for to help them succeed. The report is now a "how to sell software report," but rather a report that enables you to understand an industry's/company's pain in order to better sell your products/services. Over 200 executives from Global 1000 companies such as GE, Amex, Coke, AT&T, Duke Energy and companies from every other major industry have contributed to this brief. This report also includes a special section on sales ethics and dealing with clients/prospective clients according to new industry standard ethical guidelines. Pulling from every book, report and journal published by Aspatore Books, Executive Reports are the best way to get an edge and get smart fast on particular industries and topics.

SAMPLE INDUSTRIES COVERED
Aerospace, Accounting, Advertising, Automotive, Consulting, Consumer Durables, Energy, Financial Services, Health Care, Investment Banking, Legal, Marketing, Public Relations, Real Estate, Retail, Semiconductor, Small Business, Technology/Software, Telecommunications/Wireless, Venture Capital

WRITTEN BY C-LEVEL EXECUTIVES FROM COMPANIES AT: Advanced Fibre Communications, American Express, American Standard Companies, AmeriVest Properties, AT Kearney, AT&T Wireless, Bank of America, Barclays, BDO Seidman, BearingPoint (Formerly KPMG Consulting), BEA Systems, Best Buy, BMC Software, Boeing, Booz-Allen Hamilton, Corning, Countrywide, Credit Suisse First Boston, Deutsche Bank, Drake Beam Morin, Duke Energy, Ernst & Young, FedEx, First Consulting Group, Ford Motor Co., Frost & Sullivan, General Electric, IBM, Interpublic Group, KPMG, LandAmerica, Mack-Cali Realty Corporation, Merrill Lynch, Micron Technology, Milliman & Robertson, Novell, Office Depot, On Semiconductor, Oxford Health, PeopleSoft, Perot Systems, Prudential, Salomon Smith Barney, Staples, Tellabs, The Coca-Cola Company, Unilever, Verizon, VoiceStream Wireless, Webster Financial Corporation, Weil, Gotshal & Manges, Yahoo!

SAMPLE CHAPTERS INCLUDE
Frank Campagnoni - GE Global eXchange Services, CTO - Leading Technology during Turbulent Times
Dr. David Whelan - Boeing, Space and Communications, CTO -Developing Best of Breed Technologies and Capabilities
Dr. Carl S. Ledbetter - Novell, CTO - Closing the Gap Between What Technology Can Do and What People Want it to Do
Richard Schroth - Perot Systems, CTO - Creating and Enriching Business Value
Kirill Tatarinov - BMC Software, CTO - Innovation Drives Business Success
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Dr. Scott Dietzen - BEA E-Commerce Server Division, CTO - Managing the Technology Knowledge
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Rick Bergquist - PeopleSoft, CTO - The Art of Being a CTO - Fostering Change
Kevin Vasconi - Covisint, CTO - Technology as a Strategic Weapon
Dan Burgin - Finali, CTO - The Role of the CTO in a Venture-Backed Startup
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Finding a great global partner: customers value their domestic relationships: use that to your advantage. (Power Selling).: An article from: Printed Circuit Design & Manufacture
Dan Beaulieu
Manufacturer: UP Media Group, Inc.
ProductGroup: Book
Binding: Digital

General | Business & Investing | Subjects | Books
Printing | Graphic Design | Computers & Internet | Subjects | Books
General | Business & Investing | Subjects | e-Docs | Formats | Books
ASIN: B0008DQD14
Release Date: 2005-07-31

Book Description

This digital document is an article from Printed Circuit Design & Manufacture, published by UP Media Group, Inc. on July 1, 2003. The length of the article is 930 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Finding a great global partner: customers value their domestic relationships: use that to your advantage. (Power Selling).
Author: Dan Beaulieu
Publication: Printed Circuit Design & Manufacture (Magazine/Journal)
Date: July 1, 2003
Publisher: UP Media Group, Inc.
Volume: 20 Issue: 7 Page: 14(1)

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Herbalife investor liquidating stake: partners who got shares appear to be selling.(SUPPLEMENTS)(J.H. Whitney & Co.): An article from: Los Angeles Business Journal

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Herbalife investor liquidating stake: partners who got shares appear to be selling.(SUPPLEMENTS)(J.H. Whitney & Co.): An article from: Los Angeles Business Journal
Deborah Crowe
Manufacturer: Thomson Gale
ProductGroup: Book
Binding: Digital

General | Business & Investing | Subjects | Books

Supplements | Alternative Medicine | Health, Mind & Body | Subjects | Books

Book Description

This digital document is an article from Los Angeles Business Journal, published by Thomson Gale on June 4, 2007. The length of the article is 1177 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Herbalife investor liquidating stake: partners who got shares appear to be selling.(SUPPLEMENTS)(J.H. Whitney & Co.)
Author: Deborah Crowe
Publication: Los Angeles Business Journal (Magazine/Journal)
Date: June 4, 2007
Publisher: Thomson Gale
Volume: 29 Issue: 23 Page: 1(2)

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On the road to riches : practical hints for clerks and young business men on buying and selling goods ; selling goods on the road ; business correspondence ; drumming ; duties of clerks ; partners, etc. / by William H. Maher

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On the road to riches : practical hints for clerks and young business men on buying and selling goods ; selling goods on the road ; business correspondence ; drumming ; duties of clerks ; partners, etc. / by William H. Maher
William H. Maher
Manufacturer: J. Fred Waggoner, Chicago
ProductGroup: Book
Binding: Hardcover
ASIN: B000R2DPLM

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On the road to riches: Practical hints for clerks and young business men on buying and selling goods ; selling goods on the road ; business correspondence ; drumming ; duties of clerks ; partners, etc
William H Maher
Manufacturer: F.C. Smedley
ProductGroup: Book
Binding: Unknown Binding

General | Business & Investing | Subjects | Books

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ASIN: B000887C3W

Partner Relationship Management Market Trends

Average customer rating:

not worth the price

Partner Relationship Management Market Trends
Faulkner Information Services
Manufacturer: Faulkner Information Services
ProductGroup: Book
Binding: Digital

General | Business & Investing | Subjects | Books

General | Computers & Internet | Subjects | Books

Download Description

Partner Relationship Management (PRM) tools have the potential to significantly improve the productivity of resellers, cut channel costs, and to provide better information about channel operations. Although still in its infancy, the PRM market is experiencing dramatic growth, and is expected to increase from $170 million by the end of 2001 to almost $500 million in 2003.

Customer Reviews:

not worth the price.......2002-01-02

For the price ... - this is a 7 page report with no more information than can be gathered by doing a quick search on PRM on the web for Free.
Looks like the author has some good insight - but 7 pages for over $ ? I am very disappointed- I can't afford to make mistakes kike this again- the number of pages should be clearly marked on the page describing the "book"
Good info- but way overpriced to say the least.

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billw@ireadfaces.com

Partner Selling
Robert E. Frare , and John W. Connors
Manufacturer: Adams Media Corporation
ProductGroup: Book
Binding: Paperback

General | Business & Investing | Subjects | Books

Customer Reviews:

billw@ireadfaces.com.......2000-12-14

This is one of the finest books available on the changes professional salespeople need to make in today's selling climate. Practical. Informative. Thought-provoking. Imaginative. Bob's experience in sales highlights the anecdotes and brings them to life. Very highly recommended.

Prospect Management: How to Make More Money By Avoiding the Ups and Downs of Selling (Participant's Workbook)

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Prospect Management: How to Make More Money By Avoiding the Ups and Downs of Selling (Participant's Workbook)
Horizon Video Partners
Manufacturer: Brumberg Publications
ProductGroup: Book
Binding: Spiral-bound

Management | Management & Leadership | Business & Investing | Subjects | Books

Product Description

Not sure of publication date.

Sales Effectiveness Training: The Breakthrough Method to Become Partners With Your Customers

Average customer rating:

This tops my top 10 list on Best books on Negotiation
When the client runs the show

Sales Effectiveness Training: The Breakthrough Method to Become Partners With Your Customers
Carl D. Zaiss , Thomas Gordon , Eric Conger , and Gayle Humphrey
Manufacturer: Highbridge Audio
ProductGroup: Book
Binding: Audio Cassette

General | Business & Investing | Subjects | Books

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ASIN: 0453008720

Book Description

A bold breakthrough approach to selling, utilizing the proven principles and techniques that have made Gordon Training International's corporate training programs some of the most celebrated and influential forces for productive change in our time. For sales people and managers at all levels, Sales Effectiveness Training offers a remarkable new system for coping with the challenges of selling in today's business arena. It provides a proven method for making every sale a win-win partnership, creating solid alliances with committed managers and co-workers, and building a stimulating work environment that fosters extraordinary performance. This book is an invaluable guide for all who want to increase their own or their organization's success.

Customer Reviews:

This tops my top 10 list on Best books on Negotiation.......1998-01-09

Surprise! A sales book tops my list of negotiation resources. But this sales book focuses on the most basic communication strategies which, if mastered, form the basis of any interaction--including negotiation. Sales Effectiveness Training is an offshoot of Gordon's earlier book, Parental Effectiveness Training (PET), itself an invaluable negotiations resource. But I didn't think that even I could convince people to read a parental training manual to improve their negotiation skills. For extra credit, check out PET; it's well written, by Gordon alone; he develops his examples in greater depth than is done in Sales Effectiveness Training. What's exciting about Sales Effectiveness Training is its unique emphasis on skills we'd otherwise overlook. When most people come to me for advice, they want to know what to say, and how to say it. But the most important thing is how you listen, not what you say. This book puts the importance of listening skills -- both as a technique for understanding and as a method of creating rapport in the context of sales effectiveness. Other Batna.com articles will examine these principles in the specific context of negotiations; but the material in Sales Effectiveness Training is highly valuable as is.

When the client runs the show.......1997-09-20

When in presence of a salesperson I have the impression he/she leads the discussion where he/she wants to go. The main difference with Sales Effectiveness Training is that the client leads: the salesperson acts as a consultant, faciliator to help the client make his/her own decision. That brings trust and make THE difference

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