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I recently re-read Karaoke Capitalism by Jonas Ridderstrale and Kjell Nordstrom. The book is a follow-up to -- and really just a remixed, remastered version of -- their better known Funky Business.

It's hard to categorize these books. You will probably find them in the business/economics sections of the bookstore, but they touch on many other aspects of popular culture, biology, psychology, philosophy, etc.

I like the eccentric, eclectic style of writing/thinking in these books. Moreover, I gained insights from the arguments of the authors -- a pair of Swedish economists. I am sure I will read Karaoke Capitalism again in the future. You learn different things from the same book as your own life experience evolves and your perspective changes.

Here is my take on some of the book's key insights:

• It's not just a cliche; the world is changing rapidly. Places across the globe that were once culturally diverse are now much more similar.
• Companies and organisations across the world are able to copy each other. It's hard to get a competitive edge.
• In fact, the only way to get a competitive edge is with knowledge. Brainpower is becoming the most important element in contemporary organisations.
• But brainpower is a liability, not an asset. You don't own your employees, and you certainly don't own their brains.
• Thus, employees with the most brainpower (the most talented, the most innovative, the ones who make things happen) will demand far higher rewards than other mere mortals.
• In many businesses, we're going to trends that we currently see in Premiership football -- where an elite set of exceptionally talented individuals (or primadonnas, depending on your view) get to demand an awful lot more than everyone else.
• The demands of talented individuals may not be (solely) monetary. Like pop stars who will only bathe in Evian water (from bottles), talented individuals will make decisions on who to work for/with based on who best meets their peculiar needs.
• All of this, of course, will impact on the bottom line. Profits will also be squeezed by consumers who, because of our flatter world, ever-cheaper technology and ever-increasing competition, have greater choice.

The authors' messages are not all negative. Where there's change, they argue, there are opportunities. But you will have to uncover those opportunities yourself.

Tags: economics, society