MB: Managers Bookshelf

“The Age Curve: How to Profit
From the Coming Demographic Storm,”
by Kenneth W. Gronbach;
Amacom, New York, New York;
2008; 268 pages; $24.95.

During the late 1960s marketing gurus often said that the Baby Boomers would advance through demographic statistics like a pig through a python. They meant by this that those born between 1945 and 1964 would create a huge bulge in the population affecting every market and market segment. Sure enough, the Boomers who adopted the slogan of “never trust anyone over 30” during their early years, are now saying “never trust anyone under 30.” The reason for this new mistrust has become clear.
The author first takes us for a quick look backward at what has taken place. The generation of Americans born between 1905 and 1924 (called the “GI Generation” because it fought World War II) was reasonably large. It gave us the “Silent Generation,” (born between 1924 and 1944). Called “Silent” because it was the smallest generational cohort in a hundred years, the folks who were kids during the Second World War and their parents got busy and begat the Boomers, short for the people born during the “Baby Boom” between 1945 and 1964, until that time the largest population cohort born in the U.S. The combination of the Silents and the Boomers produced “Generation X,” born between 1965 and 1984. Despite the size of the Boomer cohort, the Gen-Xers are 10 percent or so fewer as a population group than their parents.
Author Kenneth Gronbach offers one more generational listing before he ends his near-biblical social census of 20th Century America. That cohort is “Generation Y,” which includes everyone born between 1985 and 2010.
Generation Y is noteworthy for one major reason: it is actually larger than the huge Boomer generation. Gen-Y the cohort that politicians have in mind when they mention a possible failure in 40 years of Social Security, Medicare, and other government-administered programs for the public well-being.
More to the point, it’s also the reason why the Boomers aren’t trusting anyone under 30. Not because our kids and grandkids are some kind of collective bad seed. In fact some of the changes will be improvements, others will fly in the face current political correctness, and still more will make the Boomers and Gen-Xers downright uncomfortable. Gronbach puts it this way:
“Because of their massive numbers and the small infrastructure left behind by the Xers, this generation will need to create its own world and compete for everything just as the Boomers did. Its members will of necessity become entrepreneurs and start a sea of small businesses to meet their own needs—just as the Boomers did. They are already redefining the automobile (small, powerful Asian-car hot rods). As a homegrown labor force of epic size, they will stop immigration cold and even restore manufacturing.
It was the paltry Generation X that drove manufacturing offshore. Generation Y will bring it back. Generation Y is already filling the nation’s technical schools with its best and brightest.”
Author Gronbach is a demographer and recognized generational marketing specialist, not an ethicist or politician. Even so, he has missed an opportunity to draw some ethical conclusions that might have definite impact on business. For example, if Gen-Yers will restore manufacturing, what will the impact be on the development of power sources, forms of transportation, and emphasis on training and education? Will the “Rust Belt” of the north-central and northeastern states by revived? What are the implications for small business? What types of small business?
Although Gronbach often makes a convincing case for his generational approach to marketing where things will be, not where they were, there are several annoying, though really unimportant errors scattered throughout the book. The problem is that petty errors undercut credibility and persuasiveness. One example of this is citing the B-52 bomber as a World War II aircraft. For the record it was a product first used by the Silent Generation, not the GI Generation.
“The Age Curve,” has one overwhelming reason to read and digest the book: it will make you re-think what you thought was obvious.
-- Henry Holtzman

Here are the current top 10 bestselling books for business. The list is compiled based on information received from retail bookstores throughout the U.S.A.

1. “The Post-American World” by Fareed Zakaria (W.W. Norton & Co $25.95) (2)*
Why the 21st Century will not be “the American Century.”
2. “Winners Never Cheat: Everyday Values We Learned As Children (But May Have Forgotten),” by Jon M. Huntsman
(Wharton School Publishing…$19.95)(1)
Why playing by the rules is still the only way to win.
3. “The Logic of Life: The Rational Economics of An Irrational World,” by Tim Harford (Random House…$19.95) (3)
Why economics always appears logical when nothing else does.
4. “21 Distinctions of Wealth: How to Create Unlimited Abundance in Your Life,” by Peggy McColl (John Wiley & Sons…$15.95) (8)
How to become wealthy and stay that way.
5. “Debt Cures “They” Don’t Want You to Know About,” by Kevin Trudeau (Equity Press…$25.95) (7)
What banks and credit card companies prefer you not to know.
6. “Launching a Leadership Revolution: Mastering the Five Levels of Influence,” by Chris Brady and Orrin Woodward (Business Plus…$23.99) (4)
Detailed view of how to develop leadership skills.
7. “The Dip: A Little Book That Teaches You When to Quit (and When to Stick)” by Seth Godin and Hugh Macleod [Illustrator] (Penguin Group – USA…$12.95) (5)
Why winners often quit while losers stick.
8. “When Markets Collide: Investment Strategies for the Age of Global Economic Change,” by Mohamed El-Erian (McGraw Hill…$27.95)**
New investment strategies as seen by the global investment guru.
9. “Women and Money: Owning the Power to Control Your Destiny,” by Suze Orman (Random House…$24.95) (6)
Guru of women’s financial empowerment tells how it’s done.
10. “Freakonomics: A rogue Economist Explores the Hidden Side of Everything,” by Steven D. Levitt (HarperCollins…$25.95) (6)
Why you shouldn’t accept the official version of anything.
____________________
(2)* -- Indicates a book’s previous position on the list.
** -- Indicates a book’s first appearance on the list.
*** -- Book previously on the list is on the list once again.


“The Age Curve: How to Profit From the Coming Demographic Storm,” by Kenneth W. Gronbach; Amacom, New York, New York; 2008; 268 pages; $24.95. During the late 1960s marketing gurus often said that the Baby Boomers would advance through demographic statistics like a pig through a python. They meant by this that those born between 1945 and 1964 would create a huge bulge in the population affecting every market and market segment. Sure enough, the Boomers who adopted the slogan of “never trust anyone over 30” during their early years, are now saying “never trust anyone under 30.” The reason for this new mistrust has become clear. The author first takes us for a quick look backward at what has taken place. The generation of Americans born between 1905 and 1924 (called the “GI Generation” because it fought World War II) was reasonably large. It gave us the “Silent Generation,” (born between 1924 and 1944). Called “Silent” because it was the smallest generational cohort in a hundred years, the folks who were kids during the Second World War and their parents got busy and begat the Boomers, short for the people born during the “Baby Boom” between 1945 and 1964, until that time the largest population cohort born in the U.S. The combination of the Silents and the Boomers produced “Generation X,” born between 1965 and 1984. Despite the size of the Boomer cohort, the Gen-Xers are 10 percent or so fewer as a population group than their parents. Author Kenneth Gronbach offers one more generational listing before he ends his near-biblical social census of 20th Century America. That cohort is “Generation Y,” which includes everyone born between 1985 and 2010. Generation Y is noteworthy for one major reason: it is actually larger than the huge Boomer generation. Gen-Y the cohort that politicians have in mind when they mention a possible failure in 40 years of Social Security, Medicare, and other government-administered programs for the public well-being. More to the point, it’s also the reason why the Boomers aren’t trusting anyone under 30. Not because our kids and grandkids are some kind of collective bad seed. In fact some of the changes will be improvements, others will fly in the face current political correctness, and still more will make the Boomers and Gen-Xers downright uncomfortable. Gronbach puts it this way: “Because of their massive numbers and the small infrastructure left behind by the Xers, this generation will need to create its own world and compete for everything just as the Boomers did. Its members will of necessity become entrepreneurs and start a sea of small businesses to meet their own needs—just as the Boomers did. They are already redefining the automobile (small, powerful Asian-car hot rods). As a homegrown labor force of epic size, they will stop immigration cold and even restore manufacturing. It was the paltry Generation X that drove manufacturing offshore. Generation Y will bring it back. Generation Y is already filling the nation’s technical schools with its best and brightest.” Author Gronbach is a demographer and recognized generational marketing specialist, not an ethicist or politician. Even so, he has missed an opportunity to draw some ethical conclusions that might have definite impact on business. For example, if Gen-Yers will restore manufacturing, what will the impact be on the development of power sources, forms of transportation, and emphasis on training and education? Will the “Rust Belt” of the north-central and northeastern states by revived? What are the implications for small business? What types of small business? Although Gronbach often makes a convincing case for his generational approach to marketing where things will be, not where they were, there are several annoying, though really unimportant errors scattered throughout the book. The problem is that petty errors undercut credibility and persuasiveness. One example of this is citing the B-52 bomber as a World War II aircraft. For the record it was a product first used by the Silent Generation, not the GI Generation. “The Age Curve,” has one overwhelming reason to read and digest the book: it will make you re-think what you thought was obvious. -- Henry Holtzman Here are the current top 10 bestselling books for business. The list is compiled based on information received from retail bookstores throughout the U.S.A. 1. “The Post-American World” by Fareed Zakaria (W.W. Norton & Co $25.95) (2)* Why the 21st Century will not be “the American Century.” 2. “Winners Never Cheat: Everyday Values We Learned As Children (But May Have Forgotten),” by Jon M. Huntsman (Wharton School Publishing…$19.95)(1) Why playing by the rules is still the only way to win. 3. “The Logic of Life: The Rational Economics of An Irrational World,” by Tim Harford (Random House…$19.95) (3) Why economics always appears logical when nothing else does. 4. “21 Distinctions of Wealth: How to Create Unlimited Abundance in Your Life,” by Peggy McColl (John Wiley & Sons…$15.95) (8) How to become wealthy and stay that way. 5. “Debt Cures “They” Don’t Want You to Know About,” by Kevin Trudeau (Equity Press…$25.95) (7) What banks and credit card companies prefer you not to know. 6. “Launching a Leadership Revolution: Mastering the Five Levels of Influence,” by Chris Brady and Orrin Woodward (Business Plus…$23.99) (4) Detailed view of how to develop leadership skills. 7. “The Dip: A Little Book That Teaches You When to Quit (and When to Stick)” by Seth Godin and Hugh Macleod [Illustrator] (Penguin Group – USA…$12.95) (5) Why winners often quit while losers stick. 8. “When Markets Collide: Investment Strategies for the Age of Global Economic Change,” by Mohamed El-Erian (McGraw Hill…$27.95) New investment strategies as seen by the global investment guru. 9. “Women and Money: Owning the Power to Control Your Destiny,” by Suze Orman (Random House…$24.95) (6) Guru of women’s financial empowerment tells how it’s done. 10. “Freakonomics: A rogue Economist Explores the Hidden Side of Everything,”** by Steven D. Levitt (HarperCollins…$25.95) (6) Why you shouldn’t accept the official version of anything. ____________________ (2)* -- Indicates a book’s previous position on the list. -- Indicates a book’s first appearance on the list. * -- Book previously on the list is on the list once again.
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