• The New Economics, Third Edition

  • For Industry, Government, Education
  • By: W. Edwards Deming
  • Narrated by: David Stifel
  • Length: 8 hrs and 15 mins
  • 4.5 out of 5 stars (304 ratings)

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Publisher's Summary

In this book, W. Edwards Deming details the system of transformation that underlies the "14 Points for Management" presented in Out of the Crisis. The "Deming System of Profound Knowledge", as it is called, consists of four parts: appreciation for a system, knowledge about variation, theory of knowledge, and psychology. Describing the prevailing management style as a prison, Deming reveals how applying the System of Profound Knowledge increases productivity, quality, and people's joy in work and joy in learning. Another outcome is short-term and long-term success in the market. Indicative of Deming's philosophy is his advice to abolish performance reviews on the job, to look deeper than spreadsheets for opportunities, and even to rethink how we teach and manage our schools. Moreover, Deming's method enables organizations to make accurate predictions, which is a valuable tool in today's uncertain economic climate.

This third edition features a new chapter (contributed by business consultant and Deming expert Kelly L. Allan) that explains the relevance of Deming's management method, case studies from organizations that have adopted Deming's System of Profound Knowledge, and offers guidance on how organizations can effectively "do Deming".

PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio.

©2018 W. Edwards Deming (P)2018 Blackstone Audio, Inc.

What listeners say about The New Economics, Third Edition

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Great Ideas Mixed into Socialist Leaning Worldview

I'm very anti-socialist! The ideas of abolishing performance pay and grades seems very bad. Also cooperation with your competition outside of your company is a very slippery slope to things like price fixing. The book was worth my time but think very critically as you listen.

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Out Of The Crisis pleease!

Wow! Well, what can I say, this is Dr. Deming, the father of quality.
I and other readers of this book, would really like to hear the Authors' previous book "Out Of The Crisis".
David Stifel does a good job.

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Excellent content, excellent reading

I’ve been waiting a long time for Deming to be available on audiobook. It was worth the wait. Excellent reading that really helped elucidate the content. I hope we can get Out of the Crisis and other Deming-related works soon!

4 people found this helpful

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has some great ideas but wrote in an egoism way

has some great ideas but wrote in an egoism way that make it too much to continue listening to it

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Fundamental wisdom for any business and individual

The best compilation of Dr Deming’s wisdom! His last book is an excellent start for anyone new to Deming, and a privilege for all that knew him (or think they know). May the world learn this System of Profound Knowledge soon!

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Boring

I usually like books like these but the voice actor and the writing style are both so dry that I got half-way through the book and decided I couldn’t take anymore.

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Edifying

Listening to this book by W. Edwards Deming was enjoyable and engaging. I wished I had found it earlier. I will definitely read it again.

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Best Book for Set up, Growth, and Continuance

Hands down Deming wins every time! This is a truly great book for business, education, parenting, or anything else that takes doing and managing.

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great foundational MGMT. principles. relevant for

relevant for today. great look at the beginning of quality movement. Deming ideas last . trying to do is harder

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unexpected gem still very applicable

I felt that this was really in line with my beliefs and I noticed in many places that this is still not the way the world works. there are many parts of this book that expresses how we should keep looking to the roots. There are of course things which are out of date but you must take it with a grain of salt because you just replace what you hear with something else and you see how relevant it is today.

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  • Michael Walsh
  • 11-13-21

Very relevant 30 years on - eye opening

really enjoyed it. it's amazing how the principles continue to apply today, decades later. will read Demings other titles.

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  • Mr Nick McIvor
  • 01-26-22

Essential Reading

Definitely a must read for anyone trying to change organisations.
Timeless knowledge that is always relevant, though rarely followed.