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Why Most Things Fail: Evolution, Extinction and Economics
     

Why Most Things Fail: Evolution, Extinction and Economics

by Paul Ormerod
 

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Failure is the most fundamental feature of biological, social and economic systems. Just as species fail—and become extinct—so do companies, brands and public policies. And while failure may be hard to handle, understanding the pervasive nature of failure in the world of human societies and economies is essential for those looking to succeed.

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Overview

Failure is the most fundamental feature of biological, social and economic systems. Just as species fail—and become extinct—so do companies, brands and public policies. And while failure may be hard to handle, understanding the pervasive nature of failure in the world of human societies and economies is essential for those looking to succeed.

Linking economic models with models of biological evolution, Why Most Things Fail identifies the subtle patterns that comprise the apparent disorder of failure and analyzes why failure arises. Throughout the book, author Paul Ormerod exposes the flaws in some of today's most basic economic assumptions, and examines how professionals in both business and government can help their organizations survive and thrive in a world that has become too complex. Along the way, Ormerod discusses how the Iron Law of Failure applies to business and government, and reveals how you can achieve optimal social and economic outcomes by properly adapting to a world characterized by constant change, evolution and disequilibrium.

Filled with in-depth insight, expert advice and illustrative examples, Why Most Things Fail will show you why failure is so common and what you can do to become one of the few who succeed.

Product Details

ISBN-13:
9780470089194
Publisher:
Wiley
Publication date:
02/26/2007
Pages:
272
Sales rank:
984,791
Product dimensions:
5.55(w) x 7.50(h) x 0.60(d)

What People are Saying About This

Praise from Great Britain for Why Most Things Fail:

"This is a fascinating analysis. Few economists have such a sure grasp of physics and biology . . . [Ormerod’s book] deserves a wide readership."
---The Times

Paul Ormerod begins construct[ing] a new way of looking at human affairs . . . The real importance of what he is saying goes far beyond economics."
---New Statesman

"This engrossing and entertaining book is much more than a mordant moan on mortality. It is a careful, comprehensible analysis of the limits of human rationality’s ability to control the world and of the implications for public policy of the failure of most rational calculation to produce its intended results."
---The Sunday Telegraph

"Ormerod writes fluently, with a merciful lack of equations . . . [He offers] an intriguing argument, well explained."
---Financial Times

"Interesting and entertaining . . . The scale and breadth of Ormerod’s analysis deserve commendation."
---Nature

Meet the Author

Paul Ormerod, a theoretical economist and successful businessman, has served as the head of the Economic Assessment Unit at The Economist and the director of economics at the Henley Centre for Forecasting in England. He has taught economics at the University of London and the University of Manchester. Ormerod is founder of the consulting firm Volterra and is an alumnus of Oxford University and Cambridge University.

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