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THE END OF RAISES Three years after Milton Friedman’s New York Times essay put financial maximization into the bloodstream, a strange thing happened. People stopped getting raises.
Yancey Strickler • This Could Be Our Future: A Manifesto for a More Generous World
firms are continually confronted with a basic dilemma. On the one hand, they can choose to follow a practice area down its life cycle, adapting organization structures, staffing strategies, pricing, leadership styles, and all else we have discussed above to the new requirements of the marketplace. Of course, in so doing they will be transforming th
... See moreDavid H. Maister • Managing The Professional Service Firm
Sam found lots of trades whose success turned on the idiocy of some other trader or trading algorithm. Asher trades. For a two-week stretch, Canada’s main stock market index behaved weirdly at the opening every morning. At 9:30 it would pop higher or drop lower with unusual violence and then, at 9:31, revert to its previous levels.
Michael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
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Michael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
Growing by 25 percent and adding 25 percent more partners is not a bad result but it does not further the goal of improving profit per partner. To do that, we must break one of the two conditions imposed; either bring in work that has higher fee levels than the firm’s current average, or find ways to service the firm’s work with higher leverage. Th
... See moreDavid H. Maister • Managing The Professional Service Firm
much larger client base exists for what I term Grey Hair approaches to practice. These types of client recognize that their problems have probably been faced and dealt with by other companies, require less complete customization, and are probably not crisis
David H. Maister • Managing The Professional Service Firm
Cost, reliability, speed, and other such characteristics would come to the fore, and practice development tactics would involve highly targeted and…
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David H. Maister • Managing The Professional Service Firm
George Stigler, a thirty-five-year-old economist at the University of Minnesota. Inflation had diluted the 40-cent minimum wage, and people were calling for an increase to 60 or even 75 cents an hour, which translates to $9.51 and $11.88 in June 2022 dollars. “Economists have not been very outspoken on this type of legislation,” Stigler wrote. “It
... See moreMatthew Desmond • Poverty, by America
future. One of the main lessons of behavioral economics is that small changes to the environment we live in matter.