Book Review by D. Donovan, Senior Reviewer, Midwest Book Review and Editor, Donovan’s Literary Services
“Objective Prosperity: How Behavioral Economics Can Improve Outcomes for You, Your Business, and Your Nation is a study in contrasts between wealth management processes and business and individual pursuits of prosperity.
“It poses some hard questions that encourage readers to analyze not just their business and wealth objectives, but the wellsprings of their perception of and drive towards prosperity and success.
“This book comes with a caution. It will make even the determined or successful businessperson think about wealth and strategy in new ways that can also be uncomfortable. Those on track to achievement rarely take the time to consider the underlying meaning and influences of that word’s definition, but Objective Prosperity doesn’t just encourage this extra layer of thought — it demands this of its readers.
“The analysis embraces the notion of prosperity for everyone rather than just a few, supporting this vision with a series of real-world examples that receive enlightenment through research studies, analysis, and models of the kinds of business activities that lead to and redefine success.
“During this process, Blackwell and Bailey provide insights that support these revised business and personal visions of achievement: ‘The way to think of your product is the total utility of the bundle of attributes designed to solve a problem. The more pressing a problem, the greater the opportunity to sell a product solving that problem. Your product must scratch where people itch! To prosper as an entrepreneur, you must truly deliver the utility from solving their problem and do it repeatedly and consistently. That is why some people (both entrepreneurs and their employees) prosper — because their products continue to sell, grow revenues, and expand segments served. Selling a product is not the same as fulfilling a need.’”
“The studies of individuals and businesses acknowledge that the process of attaining success is not equally available to all. Many contrasts are provided to illustrate diverse paths to prosperity: ‘The reality is that even people born poor, values such as knowledge and discipline in their life can help them rise from the bottom to the top. Of course, this requires the opportunity to acquire knowledge, which data clearly shows is not equally accessible to all people at birth. While this is certainly something to discuss as a barrier to prosperity, it is worth noting that there are sometimes ways to overcome these barriers. Reading books from local libraries was the way out of poverty for famed neurosurgeon Dr. Ben Carson as he describes in several of his books including Gifted Hands. Moreover, not everyone has the desire to attend a university to obtain the knowledge from a university degree, but there are many other paths to prosperity.’”
“By now, it should be evident that Objective Prosperity operates on different levels: as a personal examination of the strategies and values involved in defining and reaching for prosperity; as a business consideration of consumer needs and how growth and success may be obtained by matching products and services to their visions; and, as a social analysis that considers issues of equality, poverty, wage equity, and more associated issues.”
“Objective Prosperity is not intended to provide a set of simple answers. It lays the foundation for individual reader analysis no matter what path they walk in life, improving the reader’s critical thinking capabilities by expanding the limits and definition of prosperity in all kinds of situations.
“Business libraries looking for wealth strategy and entrepreneurial advice books will find so much more in Objective Prosperity. Its vision of defining and analyzing the elements that constitute success needs to be part of a range of book club discussion groups, whether they are focused on business, personal achievement, or social inspection.”
Objective Prosperity: How Behavioral Economics Can Improve Outcomes for You, Your Business, and Your Nation
by Roger D. Blackwell, Ph.D., Retired Professor, The Ohio State University and Roger A. Bailey, Ph.D., Clinical Assistant Professor, The Ohio State University
Every person comes from a different background, with different skillsets, constraints, weaknesses, and strengths. Identifying ways to increase your prosperity is made even more challenging by the reality that the success of your nation’s economy can dramatically affect your own success. This is why it’s important to understand behavioral economics and how it can improve these outcomes on both a micro and macro level.
Politicians, prickly pundits, and pompous TV personalities will promise answers for you and your nation, but consider this: Are there really one-size-fits-all answers to improve prosperity?
Blackwell’s and Bailey’s Keys to Prosperity can put you on the right path!