Search This Blog

Friday, March 12, 2010

Biased Decisions – Costly Business


If only we knew how costly decisions based on biased beliefs can be, we might stop making them. For example Jews, God and History, published in the mid-1960s, had sold more than 2.5 million copies by the year 2000. It is now considered a classic continuing to sell close to 3,000 copies per month. The reason for the many rejections of Jews, God and History by prominent publishers was, “There are so many books on Jewish history now we see no point in adding another one.” But, after sales of 3 million plus copies, the error of their thinking has shown them how much money they have lost.

One wonders if there has been any change in their rejection policy. Think of how the brave person who took the time to actually read the unpublished manuscript and sent it on for review feels. I for one would feel quite confident in the ability to know good writing when I saw it. It would be interesting to read the minds of who passed on the opportunity to publish yet “another book on Jewish history.”

This wonderful classic can be ordered on-line at http://tinyurl.com/yldbagb or purchased at any major bookstore.