The New Economics for Industry, Government, Education Paperback – 5 Oct. 2018

Very interesting

I came across Dr W Edwards Deming several months ago. Although, looking back at some books I read several years ago, Deming was in the bibliography section but I missed it at the time. For me, the four principles of Deming's System of Profound Knowledge make total sense. In his 'Out of the Crisis' Deming introduces us to his 14 points for transformation, but in 'The New Economics', written a decade or so later, he breaks these down into the four principles (appreciation of a system, knowledge of variation, theory of knowledge and psychology). Each is simple to grasp in its rawest sense and Deming has a direct style to explain his thinking which makes it seem obvious to the reader. Although he doesn't prescribe solutions (How could he know?), he provides enough detail about the problems he identifies and how the principles solve these problems that the reader can apply his approach to their own situation.This is very much a book for decision makers and leaders who can influence the direction of an organisation (or a system). It is dated in terms of the reference points he uses. Yet, the examples he uses still seem relevant in today's economy. His famous red bead and funnel experiments are detailed in this book and provides an insight into how the system has natural variation bounded by upper and lower limits outside of which individuals have no ability to influence, despite doing their best.I have totally bought into the philosophy of Deming, maybe because I have a background in DevOps which deals with similar issues that Deming faced albeit in more modern software development practices that Deming was not familiar with.This book is a must-read for anyone who wants to run an organisation for longer term growth.

W E Deming is one of my heroes. This is again another well-written book. that really sheds light on how a business and country should operate. Deming describes the value corporations need to put on continuous education and improvement. In the case of the COVID - 19 crisis....would we be so dependant on China if we kept key industries intact....vs. looking to squeeze the most profit?

A must read for every manager and quality improvement consultant

Clearly a stalwart of quality. For me, this book opened my eyes to his deep understanding of systems. The integration and cross connections that bring desperate components into a cohesive functional system. Ranks in the must read category.

A must read for anyone interested in continuous improvement

I’ve re-read the New Economics at least twice a year since 2012. I learn more and gain deeper insights with each reading. There is no better source of leadership wisdom available.