Adapt: Why Success Always Starts with Failure [Kindle Edition]

Tim Harford (Author)

Book Description

In this groundbreaking book, Tim Harford, the Undercover Economist, shows us a new and inspiring approach to solving the most pressing problems in our lives. When faced with complex situations, we have all become accustomed to looking to our leaders to set out a plan of action and blaze a path to success. Harford argues that today’s challenges simply cannot be tackled with ready-made solutions and expert opinion; 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 the compelling story 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 financial crises—as well as in fostering innovation and creativity in our business and personal lives.  

Taking us from corporate boardrooms to the deserts of Iraq, Adapt clearly explains the necessary ingredients for turning failure into success. It is a breakthrough handbook for surviving—and prospering— in our complex and ever-shifting world.

Editorial Reviews

Review

“One of the best writers who also happens to be an economist.”—Stephen Dubner, Freakonomics blog

 

“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

 

“Harford’s wide-ranging look at social adaptation is fresh, creative, and timely.”—Sheena Iyengar, author of The Art of Choosing

“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

“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 

“Tim Harford could well be Britain's Malcolm Gladwell. An entertaining mix of popular economics and p...

Review

“[Harford] offers a very useful guide for people preparing to live in the world as it really is.” — David Brooks, The New York Times

“Brainy . . . Harford has a knack for making complicated ideas sound simple.” — James Pressley, Bloomberg News

“Tim Harford’s terrific new book urges us to understand profit from our muddling . . . Harford is a gifted writer whose prose courses swiftly and pleasurably. He has assembled a powerful combination of anecdotes and data to make a serious point: companies, governments and people must recognise the limits of their wisdom and embrace the muddling of mankind.” — Edward Glaeser, Financial Times

“Harford’s case histories are well chosen and artfully told, making the book a delight to read. But its value is greater than that. Strand by strand, it weaves the stories into a philosophical web that is neat, fascinating and brilliant . . . It advances the subject as well as conveying it, drawing intriguing conclusions about how to run companies, armies and research labs.” —Matt Ridley, Nature

 

“One of the best writers who also happens to be an economist.”—Stephen Dubner, Freakonomics blog

 

“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

 

“Harford’s wide-ranging look at social adaptation is fresh, creative, and timely.”—Sheena Iyengar, author of The Art of Choosing

“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

“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 

“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

See all Editorial Reviews

Product Details

• File Size: 494 KB
• Print Length: 321 pages
• Page Numbers Source ISBN: B0053YQ3T0
• Publisher: Farrar, Straus and Giroux (May 10, 2011)
• Sold by: Macmillan
• Language: English
• ASIN: B004OA62UO
• Text-to-Speech: Enabled
• X-Ray: Not Enabled
• Lending: Not Enabled
• Amazon Best Sellers Rank: #136,355 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
  • #72 in Kindle Store > Kindle eBooks > Business & Investing > Economics > Theory

Most Helpful Customer Reviews

60 of 64 people found the following review helpful

5.0 out of 5 stars A Blueprint for Adapting April 4, 2011

By John Chancellor TOP 500 REVIEWERVINE™ VOICE

Format:Hardcover|Amazon Vine™ Review (What's this?)

You may wonder about the need for adapting. Tim Harford, the author makes a very strong case for learning to adapt. "We face a difficult challenge: the more complex and elusive our problems are, the more effective trial and error becomes, relative to the alternatives. Yet it is an approach that runs counter to our instincts. The aim of this book is to provide an answer to that challenge."

There is no doubt that the world and our individual lives are becoming more complex and challenging. The conventional approach to solving problems does not seem to work.

Mr. Harford builds a case for an unconventional approach - an experimental approach involving trial and error.

The book puts forth that there are three essential steps for successful adapting: The first is to try new things with the knowledge that some will fail; to make failure survivable since some of the attempts will surely fail and to make sure you know when you have failed.

The essential steps seem fairly straightforward. But Mr. Harford takes the reader on a journey through history, recalling many failures - Robert McNamara's handling of the war in Vietnam; Donald Rumsfeld's stubbornness dealing with the war in Iraq; The Piper Alpha rig explosion in the North Sea; and the Lehman Brothers financial meltdown.

He also recalls many things that worked and contrasts the different approaches used by the successful - trial and error and adapting.

There is a wonderful collection of historical events, psychological experiments and insights that we can put to use in our daily lives.

Some of the insights deal with large organizations and governments.... Here the average reader may become a bit discouraged that those in charge, those who should know, get so attached to their own decisions that they can't/won't let go of them. Rumsfeld and McNamara come to mind.

Chapter six is particularly interesting. It deals with the recent financial meltdown and in particular the Lehman Brothers failure. There is a great insight in the need for decoupling. The concept is quite simple, separate (decouple)the transactions of financial institutions so that the failure of any one will not bring down others. Unfortunately so many banks and investments banks were so tightly connected that any adverse occurrence in one had an impact on the entire system. The decoupling concept applies not only to financial institutions but to safety concerns - think the Horizon disaster - Three Mile Island, etc.

Chapter seven and eight brings all the concepts together. Chapter seven takes all the concepts concerning organizations and chapter eight deals with the concepts as it applies to individuals.

The lessons concerning the adaptive organization might seem a little beyond the average reader. But there is no doubt that we all will benefit greatly from the lessons contained in Adapting and You (Chapter 8).

We should understand that the key to success in an ever changing world is adapting. And the key to adapting is: Try new things, try them in a context where failure is survivable and learn how to react to the failures we do encounter.

A very enjoyable read with lots of great lessons. For the individual, the last chapter is the most valuable. Read more ›

85 of 93 people found the following review helpful

3.0 out of 5 stars Interesting anecdotes, unconvincing thesis May 22, 2011

By PriceTheory

Format:Hardcover

As always, Tim Harford finds the most interesting economic research and explains it well. As I read Adapt, I was frequently inspired to go online and look up the economics he reports on. The section on evolved virtual creatures prompted me to visit YouTube and watch for myself how animal-like forms evolved through computer simulations. After reading about the unintended consequences of some foreign aid programs, I had to see what a Play Pump looks like and watch the interviews with teachers who preferred the old borehole pumps. Adapt is an excellent collection of quotes, stories, and research findings on innovation and economic evolution.

However, the book falls short in a few ways. First, although Harford's writing is generally clear, he employs some annoying rhetorical devices that should have been edited out. One is that he repeatedly withholds the name of the person whose work he's discussing until he has built up all the details of the story. Only once he's laid out the research results does he reveal that the anonymous manager is a famous figure or someone we met in the last chapter. It's as if Harford isn't confident that the research will hold anyone's attention, so he has to play games with the reader. Equally irksome is his tendency to repeat points again and again, reminding readers of things he mentioned two pages back that no one could have forgotten.

The chapter on the financial crisis was also a disappointment. It devolved into boring jargon and obscure terms for different loans and contracts. Maybe it's not possible to make subprime mortgages entertaining, and I don't know if any other writer could have done a better job. But the book would have been more enjoyable without that tedious interlude....

But the main drawback is that Harford's thesis that economic progress parallels evolution in the natural world is not fully developed or defended. Certainly, economic progress is like evolution in that bad products disappear and good technology, like good genes, is passed along. Harford's assertion that isolation is a necessary precondition of creativity seems less persuasive. He gives examples from evolutionary biology in which populations adapted differently because they were separated by physical barriers. Harford then offers the example of researchers who moved out to Utah or Arizona to get some space as proof that human innovators must be similarly isolated. But is that really true in the world of human ideas? I'm not convinced. Virtually all innovators of the last century had some kind of intellectual peer group, either through a university or social circle. And modern communications enable researchers in Utah to keep abreast of the latest ideas and theories. They're not separated intellectually from their peers the way guppies in different ponds are separated physically. Furthermore, Harford does not fully explain what process in the economy corresponds to sexual reproduction in the natural world. How do good ideas spread if they're not identified by a manager from the top? Harford alludes to imitation by other economic actors, but doesn't show how or why this occurs.

Adapt is worthwhile reading as a starting-point for investigating economic research on innovation, but its model of economic development as a corollary to biological evolution is not completely satisfactory. Read more ›

16 of 18 people found the following review helpful

5.0 out of 5 stars Important book May 10, 2011

By Aretae VINE™ VOICE

Format:Hardcover

Adapt is a well written book with compelling examples that covers, in my opinion, the single most important topic in how to think about thinking:

To a first approximation, rational deduction fails 100% of the time, when applied to the messy real world. The ONLY path to success is to try, fail, and adapt.

The examples are engaging, the writing is pleasant, and there are soundbites throughout that are wonderful. My favorite in the second half of the book was a joke making fun of self-help and business books.

The flow of the book goes roughly:

1. What's the likelihood of getting something wrong? (~100%)
2. What can we do? (Feedback + Adaptation)
3. What about situations where we have to get it right (Nuclear power plants?)
4. How do organizations adapt (Low central control).
5. How do individuals adapt (It's hard).

The book was generally very strong. The variety of examples throughout was particularly impressive. Anyone who doesn't already understand the idea that we all are wrong up front most of the time should have this book stapled to their hands. Considering myself well read in this space, I saw a new example I was unfamiliar with every third page.

Among my favorite of the little examples that I was unfamiliar with:
Paul Ormerod ran math models of corporate extinctions that lined up pretty well with math models of species extinctions.... However, the math models only worked (had decent predictivity) if the assumption was that none of them were any good at all at predicting the future:

"It was possible to build a model that mimicked the real extinction signature of firms, and it was possible to build a model that represented firms as moderately successful planners; but it was not possible to build a model that did both."

2-3 years ago, I concluded that there was a wide open market for a book on the twin topics of ubiquitous error and feedback. I started a blog partly because the topic needed addressed, and it hadn't been addressed in the modern literature. Indeed, it was contradicted by most of the modern discussions. on any topic.

This book is easily the most important of the modern big idea-books. Malcolm Gladwell's minor insights are tiny details in comparison.

Quibbles:

I was less than impressed by his treatment of point 3 above...but I'm less than impressed by my treatment of the topic as well...I don't think there is a good answer, and while Harford seems to admit as much at the end of the chapter (6), the rest of the chapter seems to be attempting to suggest a solution.

If I had written the book...I'd have pulled in 2 additional topics:

What does this mean for government?
My favorite prior thinkers in this direction are: John Boyd, W. Edwards Deming, and Kent Beck, and Frederich Hayek. Only Hayek is referenced, and lightly.

Minor quibbles aside...the book is required reading. Read more ›

More About the Author

Tim Harford is the author of the bestseller The Undercover Economist and The Logic of Life and a member of the editorial board of the Financial Times, where he also writes the "Dear Economist" column. He is a regular contributor to Slate, Forbes, and NPR's Marketplace. He was the host of the BBC TV series Trust Me, I'm an Economist and now presents the BBC series More or Less. Harford has been an economist at the World Bank and an economics tutor at Oxford University. He lives in London with his wife and two daughters.