This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
. - Thomas Merton Your most unhappy customers are your greatest source of learning. Henry Ford To succeed in your career, it''s less important what you know or even who you know than who truly knows you and how they know you. Bill Gates Good management consists of showing average people how to do the work of superior people.
Compared with my colleague, I had accomplished so little over such a long career; my two measly books were more like an embarrassment, given his output. Robert Merton was 46 when he won the award. Merton had the office on the other side of my office. You see the problem.
Chance plays a much greater role in our careers than we might wish or even realize. But the downside — the thought of our careers as the playthings of fate — is almost unbearable. If you imagine a game of “career roulette,” you end up a starving artist 99 times for every time you end up a rockstar.
The sociologist Robert Merton dubbed this "The Matthew Effect," where the rich (in every sense of the word, from money to status to fame) get richer just because advantages beget more advantages. Another key strategy is to match the person to the situation. Another key strategy is to match the person to the situation.
I was thinking about that story by Thomas Merton during a recent board meeting. Early on in our careers, we might speak up without concern or context. It was said of Abbot Agatho that for three years he carried a stone in his mouth until he learned to be silent. The CEO and CFO were marching through their 112-slide presentation.
In slightly more formal terms, Id suggest that they were able to take on, at least in tiny part, five of Robert Merton and Zvi Bodies six standard functions of a financial system: settling payments, providing information, setting incentives, pooling resources, and transferring resources.
Ask them if they apply much else from else from economics in their actual business careers, and you’re likely to hear “not much.”. They might be surprised at how certain economic notions have been directly applied in business, with largely positive results. Here a few notable examples.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content