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Review title: Valuable exercise in simplicity
Product review: This book contains a delightful exercise of framing existing theories on socio-economic interactions in terms of exit, voice, and loyalty. Exit being the term pre-eminent in economics: when a product is too expensive or not good enough, the customers silently walk out. Voice belongs to politics: its about interacting to change something that is not liked. Loyalty stands for a delay of exit on the expectation that at least someone will invoke voice to change something.Much existing socio-economic theory - well, as of 1970 - is included in the discussion. The result is a lively reframing of theories in these three basic concepts which helps to detach these theories from their original formulations and thus to activate their vocabulary.
