The new economics

In this book, W. Edwards Deming outlines the Deming System of Profound Knowledge, which consists of four parts: appreciation for a system, knowledge about variation, theory of knowledge, and psychology.

Deming argues for a transformation from a competitive to a cooperative management style, which he believes increases productivity, quality, and people's joy in work and learning.

The book advises against performance reviews and grades, and encourages a deeper understanding of systems rather than individual performance.

The third edition includes a new chapter and case studies explaining the relevance and implementation of Deming's management method.