1st Edition
Profit and Prejudice The Luddites of the Fourth Industrial Revolution
Acknowledgements
Chapter 1: Profit and Prejudice
Chapter 2: The revolutions we have had
Chapter 3: The revolution has started
Chapter 4: Change and prejudice
Chapter 5: Does technology make prejudice worse? The good news
Chapter 6: Does technology make prejudice worse? The bad news
Chapter 7: The economic damage of prejudice – Part 1: Firms
Chapter 8: The economic damage of prejudice – Part 2: The economy
Chapter 9: The economic damage of gender prejudice
Chapter 10: The economic damage of sexuality prejudice
Chapter 11: Fighting back
Chapter 12: Profit and prejudice
Bibliography
Index
Biography
Paul Donovan joined UBS in 1992 as an intern. He is a managing director, and Chief Economist for UBS Global Wealth Management. Paul is responsible for formulating and presenting views on economics and policy.
"With his trademark wit and deep insights, Paul Donovan tackles topics of enormous importance and relevance in Profit and Prejudice. Against the backdrop of worldwide protests against racism, sexism and other forms of prejudice, Paul explores the connections between capitalism, behavioral psychology and society to illuminate how conscious and unconscious bias lowers human welfare. Remarkably, he does so in easy-to-understand, jargon-free terms. This is a must read for anyone interested in how and why markets fail." — Larry Hatheway, Co-Founder, Jackson Hole Economics
"In this engaging and timely book on the properties and problems of prejudice in the economy, Paul Donovan makes a compelling case for an upcoming generation embracing the fourth industrial revolution to turn its back on this particular type of irrational and damaging behaviour." — George Magnus, Associate at Oxford University's China Centre and Research Associate at SOAS, London
"Through engaging personal stories and thoughtful economic analyses, Paul explores how the turmoil of an economic revolution feeds prejudice and exclusion. He draws deep links between increasing economic inequality, status loss, and exclusion, but also reveals how to bridge the divide between industrial revolution and economic inclusion by sharing the gains of technology more equitably." — Vivienne Ming, CEO & Co-Founder, Socos Labs.
"With wit and a wonderfully straightforward style, Paul makes the case that prejudice of any kind prevents societies, organisations and people from fulfilling their potential. As Global politics and fake news become more polarising, and tap into the base fear of majority groups that they might lose out in a more inclusive world, Paul challenges us to be smart enough to heed the lessons of history and make different choices." — Carolanne Minashi, Global Head of Diversity & Inclusion UBS.
"Profit and Prejudice: The Luddites of the Fourth Industrial Revolution is the brilliant new book by Paul Donovan, chief economist of UBS Global Wealth Management. In the book, Donovan sets out the reasons why avoiding prejudice will be critical to economic success in a period of profound transition. He explains why the proper use of technology, with diverse decision-making, can be the difference between success and failure in a changing world." — The Bulletin with UBS, Monocle Radio, Episode 322, December 2020.
