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Spotting innovative trends

Coolhunting

By Peter Gloor and Scott Cooper

Translated by Ahn Jin-hwan

(Business Map; 15,000 won; 332 pp.)

Apple`s iPod represents, among other things, "coolness." Its chic design and graceful interface are tempting enough to charm tech-geeks; a surging demand worldwide is generating a huge amount of profits in a sweeping way that mesmerizes even its jealous competitors.

But the definition of "coolness" is less than clear. For a start, the idea that something is cool is constantly changing, and there is no sure-fire method to track down and grab this rapidly moving target.

Peter Gloor and Scott Cooper - veterans at the Sloan School of Management of MIT - tackle this coolness dynamics, and the Korean translation edition of the book, titled "Coolhunting: Chasing Down the Next Big Thing," may not fully satisfy the coolness hunters but at least it attempts to give some general hints, clues and tips.

The concepts introduced by the book revolve around what is known as "collective knowledge," referring to innovation taking shape through online and offline collective channels where creative individuals contribute to the advancement of new technologies and ideas by showing off their cutting-edge coolness. The authors lay out three coolness entities: the "swarm," a future-predicting, trendsetting collectivity; the "coolhunters" who uncover those swarms; and the "coolfarmers," who nurture and drive that fledgling creativity.

But tapping into arcane principles of cool and identifying the profitable trends faster than competitors is easier said than done. Skimming this introductory book may not instantly lead to a dazzling coolness business item such as an iPod, but it will surely serve as a starting point for noticing the importance of new trends.

Truth hidden behind irrationality

The Logic of Life

By Tim Harford

Translated by Lee Jin-won

(Woongjinthinkbig; 13,500 won; 340 pp.)

"Give yourself a pat on the back. You`re not as stupid as everyone says you are, and now there`s a book that proves it," says Tim Harford, author of "The Logic of Life," whose Korean translation is titled "Economics Concert 2."

Harford, who has written the bestseller "The Undercover Economist" and regularly contributes to the Financial Times and Slate.com, starts with the idea that the world seems to be full of irrational human behaviors and illogical developments. From gambling to crime to the teenage sex craze, Harford examines how strongly humans defy logic in their pursuits and desires - on the surface.

Beneath the seemingly illogical veneer, however, Harford argues that there`s a hidden incentive that infuses momentum to human behavior. After all, life is spinning on a solid base that makes more sense than you might believe.

Harford offers an intriguing anecdote about his neighborhood: a thriving district continues to secure a better environment and living conditions while a poor area never pulls out of the rut. This wealth gap, the author claims, reflects the rational decision of the wealthy class, who help improve the district`s overall conditions thanks to their tendency to continue to stay in the affluent district, thus taking rational steps to make it a better place to live. In contrast, those living in the poor district tend to move around frequently, a condition that leaves little incentive to make efforts for better living conditions.

Touching on a multitude of arenas such as marriage, the workplace and racism, the author demonstrates that life is logical after all, though individual rational behavior does not always lead to a logical world on the surface.

Reviewed by Yang Sung-jin (insight@heraldm.com)

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