economics

William Edwards Deming and Total Quality Management

William Edwards Deming and Total Quality Management

On October 14, 1900, American engineer, statistician, professor, author, lecturer, and management consultant William Edwards Deming was born. Deming often is referred to as the father of “Total Quality Management.” After World War II, he contributed to Japan‘s economic recovery by recommending statistical methods of quality control in industrial production. His method embraced carefully tallying product defects, examining their causes, correcting the problems, and then tracking the results of these changes on…
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Josiah Wedgwood and his Pottery Company

Josiah Wedgwood and his Pottery Company

On July 12, 1730, English potter and founder of the eponymous company Josiah Wedgwood was born. Wedgwood is credited with the industrialisation of the manufacture of pottery. Every new invention that Wedgwood produced – green glaze, creamware, black basalt and jasper – was quickly copied. Having once achieved perfection in production, he achieved perfection in sales and distribution. The Art of Making Porcelain We had already featured the (re-)discovery of the art…
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Frederick W. Taylor – the first Management Consultant

Frederick W. Taylor – the first Management Consultant

On March 20, 1856, American mechanical engineer Frederick Winslow Taylor was born. Taylor is known as the father of scientific management, who sought to improve industrial efficiency. He was one of the first management consultants. Taylor summed up his efficiency techniques in his 1911 book The Principles of Scientific Management. His pioneering work in applying engineering principles to the work done on the factory floor was instrumental in the creation and development…
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Cornelius Vanderbilt’s Railroad and Steamship Empire

Cornelius Vanderbilt’s Railroad and Steamship Empire

On May 27, 1794, American business magnate and philanthropist Cornelius Vanderbilt was born. Vanderbilt’s wealth was build on railroads and shipping. He was also the patriarch of the Vanderbilt family and one of the richest Americans in history. Cornelius Vanderbilt – Starting a Ferry Business Cornelius Vanderbilt was born as the fourth child and second son of Cornelius and Phebe Vanderbilt (née Hand). Vanderbilt left school at the age of eleven. At the age of…
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Bernard Mandeville and the Fable of the Bees

Bernard Mandeville and the Fable of the Bees

Bernard Mandeville’s – The Fable of Bees On November 15, 1670, Dutch philosopher, political economist and satirist Bernard Mandeville was born. He became famous for The Fable of the Bees, a satire that suggests many key principles of economic thought, including division of labor and the “invisible hand“, seventy years before these concepts were more thoroughly elucidated by Adam Smith. Not very much is known about the life of Bernard Mandeville. He probably grew…
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The Yes Men Fix the World

The Yes Men Fix the World

The Yes Men and the Haliburton SurvivaBall – Photo via Yes Men @ SurvivaNet. Jacques Servin and Igor Vamos form the culture jamming duo The Yes Men. Through their actions, they try to raise awareness about problematic social issues, in their sense. In order to do this, The Yes Men impersonate people of high economical or political influence to expose lies and injustices. They maintain fake websites to raise attention, which results in…
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