'Arguing with Zombies' by Paul Krugman encourages readers, including business leaders, to base their decisions on solid economic research rather than political beliefs or popular but unfounded ideas. This approach can influence corporate strategies and business models by promoting evidence-based decision-making. It can lead to counterintuitive solutions that may be more effective than traditional methods. However, the specific influence on corporate strategies or business models would depend on the individual interpretation and application of the ideas presented in the book.

stars icon
Questions and answers
info icon

A company in a traditional sector like manufacturing can apply the innovative approaches discussed in "Arguing with Zombies" by basing their policies and strategies on solid economic research rather than political beliefs or popular opinion. This involves ignoring "zombie ideas" that refuse to die despite evidence disproving them. Instead, they should listen to real experts and consider counterintuitive solutions that may arise from rigorous research. This approach can help them avoid amateurism and make informed decisions that can lead to a better future.

In 'Arguing with Zombies', Paul Krugman uses various examples to debunk economic myths, often referred to as 'zombie ideas'. These are ideas that, despite being disproven by evidence, continue to influence political policy. For instance, he discusses the myth of austerity, arguing that cutting government spending during a recession can actually worsen the economy, not improve it. He also tackles the myth of tax cuts for the rich stimulating economic growth, providing evidence that this is not the case. The broader implications of these examples are that policy decisions should be based on solid economic research, not on debunked ideas that refuse to die.

1. Base decisions on solid research: Entrepreneurs and managers should make decisions based on solid research and not just on popular opinion or beliefs. This helps in making informed and effective decisions.

2. Be open to counterintuitive solutions: Many issues may have solutions that are not immediately apparent or are contrary to common beliefs. Being open to such solutions can lead to innovative approaches and strategies.

3. Avoid amateurism: There is too much at stake in business to risk amateurism. Entrepreneurs and managers should strive for professionalism and expertise in their fields.

View all questions
stars icon Ask another question
This question was asked on the following resource:

Arguing with Zombies: Economics, Politics, and the Fight for a Better Future

“Zombie ideas” simply refuse to die despite mountains of evidence to disprove them. How do you fight...

View summary
resource preview

Download and customize more than 500 business templates

Start here ⬇️

Go to dashboard to view and download stunning resources

Download