Major Flaw in Western Economics

Author: [German] Klaus Schmel (Schmel, K.) wrote, translated by Zhen Nannan, Liu Qiwen, and Xia Qing
Publisher:
Publish Date: 2005-05-01
Features: There are many books about economic success. On bookstore shelves, we can find dozens of books about successful managers, huge-profit-making corporate strategies, and quick-wealth secrets. However, in reality, most of them are meaningless. Various studies have proven that at least 80% of all businesses fail in the process of establishment and product development. Billions of dollars are invested in ambitious projects, only to end up in vain. Although such devastating failures often cause a huge stir in the public opinion, compared to successful cases, the stories of the failures are often ignored in economic texts. This is truly a pity. It is a grand event to bring the dark side of the economy into the spotlight. However, the purpose of this book is not to point fingers or engage in so-called in-depth analysis. In the following chapters, 55 of the most important failed cases in economic history will be introduced. I believe these stories themselves can speak for themselves. While ensuring accuracy and reliability, the text also aims to maintain a sense of fun for readers, because as everyone knows, the joy of gloating is not just about economic issues—it is the most stimulating kind of joy.