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How Economics PhDs Took Over the Federal Reserve

Harvard Business Review

The other main contenders seemed to be Harvard economics professor Martin Feldstein, Stanford economics professor John Taylor, and of course Columbia Business School dean (and economics professor) Glenn Hubbard, whose students made an awesome viral video about his purported disappointment at being passed over.

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Reflections on the Fabric of the Toyota Production System

Deming Institute

In either case, the extra effort (loss to the do-it-yourselfer ) is both finite and real, just as the use of hammers to assemble parts at the Ford plant were finite and real to Frank Pipp and his assembly team. According to Genichi Taguchi, Toyota’s efforts with the Quality Loss Function date back to his consultation role in the early 1950s.

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