About this book
Dr. Deming is universally known as the statistician who developed a systems approach to management called Quality, the foundation for any sustainable productivity. In his final book, published in 1992 a few months before his demise, he defines the whole spectrum of his monumental legacy to the world.
‘The New Economics’ paints the picture of a completely new approach to lasting prosperity, one based on cooperation and win-win solutions. Dr. Deming builds his “Theory of Profound Knowledge” (TPK) on the interplay among four foundational bodies of Knowledge and how these should inform the work of Industry, Education and Government.
‘The New Economics’ advocates this Knowledge as the ultimate antidote to the fallacy of prevailing management practices based on fragmentation and the pursuit of local optima and as guiding light for an economics based on “whole systems optimization”, through better and better interdependencies.
Every line in this short, dense and stern little book contains (and partially disguises) an underpinning mathematical and philosophical outlook that will elude many; and yet it would be an invaluable reading for anyone tasked with taking important decisions. It is a bridge towards meaningfulness.
‘The New Economics’ is Dr. Deming’s testament to a lifetime spent developing the knowledge necessary to cope with the ever evolving complexity of our times. When he was asked how he would like to be remembered he replied “as somebody who tried to prevent America from committing suicide”.
Dr. Deming's systemic approach is more relevant than ever. It has been the foundational inspiration and content of all our work at Intelligent Management since 1996.