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Dec 8, 2020
Profit and Prejudice
The Luddites of the Fourth Industrial Revolution
Summary
Paul Donovan's Profit and Prejudice: The Luddites of the Fourth Industrial Revolution (Routledge, 2020) is a great example of what Robert Shiller has championed as narrative economics--pointing out the power and real-world economic import of stories, of narratives. In this case, Donovan highlights the cost of prejudice and how it will become even more expensive as we enter the fourth industrial revolution, a period in which human capital will be critically important to the success of any endeavor. Prejudice is bad for business and the economy, he concludes. Donovan argues for "Fighting Back"--the title of a chapter--to confront the economic cost of prejudice, but it will be an uphill battle.
To get a 25% discount on Profit and Prejudice, enter the code NBN25 at checkout here.
Daniel Peris is Senior Vice President at Federated Investors in Pittsburgh. Trained as a historian of modern Russia, he is the author most recently of Getting Back to Business: Why Modern Portfolio Theory Fails Investors.
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Daniel Peris
Daniel Peris is Senior Vice President at Federated Hermes in Pittsburgh. He can be reached at DanielxPeris@gmail.com or via Twitter @HistoryInvestor. His History and Investing blog and Keep Calm & Carry On Investing podcast are here.
