Adapt: Why Success Always Starts with Failure

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Overview

When faced with complex problems, we have all become accustomed to looking to our leaders to set out a plan of action, to blaze a path to success.

In this groundbreaking work, Tim Harford shows us a new and inspiring approach to solving the most pressing problems in our lives. Harford argues that today’s challenges simply cannot be tackled with ready-made solutions and expert opinions; the world has become far too unpredictable and profoundly complex. Instead, we must adapt. Deftly weaving together psychology, evolutionary biology, anthropology, physics, and economics, along with compelling stories of hard-won lessons learned in the field, Harford makes a passionate case for the importance of adaptive trial-and-error in tackling issues such as climate change, poverty, and the financial crisis.

What People Are Saying

Alex Bellos
“Tim Harford could well be Britain’s Malcolm Gladwell. An entertaining mix of popular economics and psychology, this excellently written book contains fascinating stories of success and failure that will challenge your assumptions. Insightful and clever.”
—Alex Bellos, author of Here’s Looking at Euclid
Dan Ariely
“Tim Harford has made a compelling and expertly informed case for why we need to embrace risk, failure, and experimentation in order to find great ideas that will change the world. I loved the book.”
—Dan Ariely, author of Predictably Irrational and The Upside of Irrationality
Gillian Tett
“This is a brilliant and fascinating book—Harford’s range of research is both impressive and inspiring, and his conclusions are provocative. The message about the need to accept failure has important implications, not just for policy making but also for people’s professional and personal lives. It should be required reading for anyone serving in government, working at a company, trying to build a career or simply trying to navigate an increasingly complex world.”
—Gillian Tett, author of Fool’s Gold: The Inside Story of J.P. Morgan and How Wall St. Greed Corrupted Its Bold Dream and Created a Financial Catastrophe
Nassim N. Taleb
“Adapt is a highly readable, even entertaining, argument against top-down design. It debunks the Soviet-Harvard command-and-control style of planning and approach to economic policies and regulations and vindicates trial and error (particularly the error part) as a means to economic and general progress. Very impressive!”
—Nassim N. Taleb, Distinguised Professor of Risk Engineering, NYU-Poly Institute and author of The Black Swan
Sheena Iyengar
“Harford’s wide-ranging look at social adaptation is fresh, creative, and timely.”
—Sheena Iyengar, author of The Art of Choosing

Product Details

  • ISBN-13: 9781611745023
  • Publisher: HighBridge Company
  • Publication date: 5/17/2011
  • Format: CD
  • Edition description: Unabridged; 10 hours
  • Sales rank: 826,970
  • Product dimensions: 5.10 (w) x 5.90 (h) x 0.90 (d)

Meet the Author

TIM HARFORD is the Undercover Economist and Dear Economist columnist for the Financial Times. His writing has also appeared in Esquire, Forbes, New York, Wired, The Washington Post, and The New York Times. His previous books include The Undercover Economist and The Logic of Life.

TIM HARFORD is the Undercover Economist and Dear Economist columnist for the Financial Times. His writing has also appeared in Esquire, Forbes, New York, Wired, The Washington Post, and The New York Times. His previous books include The Undercover Economist and The Logic of Life.

Read an Excerpt

Adapting

‘The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.’

– Friedrich von Hayek

‘Cross the river by feeling for stones.’

– Attributed to Deng Xiaoping

 

1 ‘You could easily spend your life making a toaster’

The electric toaster seems a humble thing. It was invented in 1893, roughly halfway between the appearance of the light bulb and that of the aeroplane. This century-old technology is now a household staple. Reliable, efficient toasters are available for less than an hour’s wage.

 

Nevertheless, Thomas Thwaites, a postgraduate design student at the Royal College of Art in London, discovered just what an astonishing achievement the toaster is when he embarked on what he called the ‘Toaster Project’. Quite simply, Thwaites wanted to build a toaster from scratch. He started by taking apart a cheap toaster, to discover that it had over four hundred components and sub-components. Even the most primitive model called for:

 

Copper, to make the pins of the electric plug, the cord, and internal wires. Iron to make the steel grilling apparatus, and the spring to pop up the toast. Nickel to make the heating element. Mica (a mineral a bit like slate) around which the heating element is wound, and of course plastic for the plug and cord insulation, and for the all important sleek looking casing.

 

The scale of the task soon became clear. To get iron ore, Thwaites had to travel to an old mine in Wales that now serves as a museum. He tried to smelt the iron using fifteenth-century technology, and failed dismally. He fared no better when he replaced bellows with hairdryers and a leaf-blower. His next attempt was even more of a cheat: he used a recently patented smelting method and two microwave ovens, one of which perished in the attempt, to produce a coin-sized lump of iron.

 

Plastic was no easier. Thwaites tried but failed to persuade BP to fly him out to an offshore rig to collect some crude oil. His attempts to make plastic from potato starch were foiled by mould and hungry snails. Finally, he settled for scavenging some plastic from a local dump, melting it down and moulding it into a toaster’s casing. Other short cuts followed. Thwaites used electrolysis to obtain copper from the polluted water of an old mine in Anglesey, and simply melted down some commemorative coins to produce nickel, which he drew into wire using a specialised machine from the RCA’s jewellery department.

 

Such compromises were inevitable. ‘I realised that if you started absolutely from scratch, you could easily spend your life making a toaster,’ he admitted. Despite his Herculean efforts to duplicate the technology, Thomas Thwaites’s toaster looks more like a toaster-shaped birthday cake than a real toaster, its coating dripping and oozing like an icing job gone wrong. ‘It warms bread when I plug it into a battery,’ he told me, brightly. ‘But I’m not sure what will happen if I plug it into the mains.’ Eventually, he summoned up the courage to do so. Two seconds later, the toaster was toast.

First Chapter

Adapt

Why Success Always Starts with Failure
By Tim Harford

Farrar, Straus and Giroux

Copyright © 2011 Tim Harford
All right reserved.

ISBN: 9780374100964

Rose crossing a square in Spain, could be Valencia or Granada or any of the places where two girls stay the summer after high school, sleeping under rowboats or in flowerbeds, in hostels or pensions with balustrades and mites made venerable and happy by tourists, but it happens to be a less trafficked area of Barcelona, not far from where Senegalese vendors pray, and Rose is all chrysalis, bruisable and diffident, aware of contours, thrilled by the people she will meet, the ones who will reveal all her possible faces, still hidden in magic invisible cloaksleeves.

She is crossing a newly washed square toward Lana in a white t-shirt called a wife-beater, and does it matter whether she holds aloft two drinks and one straw, or one drink with two straws, and whether the drink is horchata or limonata, and that in a shaded patio Lana sits awaiting Rose with some dark-browed man they have just met?

The man doesn’t matter: he just spells the name of some new adventure together. Rose’s tongue inches forward, all is potential. The surface of her skin could be a plum’s, ripe and ready for anything, because someone just granted her new sap: at that point, Rose is still included in Lana.

All that matters is crossing toward her friend, their bubble mostly unburst, Rose no longer an observer, now someone deserving to take breath and live, every footfall commuting what had been one long and lonely life sentence.

What goads her on could be as happenstance as the single brush of an arm as they stride along a railway platform, enough to act as a million fireflies of encouragement in the dark of all they leave unsaid. Rose, crossing toward Lana, shivers. They will never be lovers, they have been newly set loose on the world, fairly oblivious to everyone else. Masters or meteors: two girls at seventeen.



Continues...

Excerpted from Adapt by Tim Harford Copyright © 2011 by Tim Harford. Excerpted by permission.
All rights reserved. No part of this excerpt may be reproduced or reprinted without permission in writing from the publisher.
Excerpts are provided by Dial-A-Book Inc. solely for the personal use of visitors to this web site.

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  • Anonymous

    Posted April 17, 2012

    Overall liked it

    The writer effectively captured the importance of learning and adaptating based on success and failure. Drawing parellels between the evolution and extinctions of businesses was particularly interesting yet entertaining.

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