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50 of 53 people found the following review helpful:
5.0 out of 5 stars
A Blueprint for Adapting, April 4, 2011
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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.
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66 of 73 people found the following review helpful:
3.0 out of 5 stars
Interesting anecdotes, unconvincing thesis, May 22, 2011
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.
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18 of 22 people found the following review helpful:
5.0 out of 5 stars
Tim Harford's "Adapt" a study of failure, reward., April 9, 2011
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Tim Harford's "Adapt: Why Success Always Starts with Failure" is a book about economic case study, written in an engaging, fast-moving way but without losing any of its erudition. Harford discusses many different types of business models, including the United States Army (the chapter about how the Army needed to adapt, pronto, in the Middle East is must-read stuff), various scientific endeavors (including one gentleman who studied mouse genetics, who succeeded by refusing to adapt, realizing that the world would adapt to him, not the reverse), and all sorts of economic pursuits. And in all of them, one thing is continuous: we fail. Again, and again, and again. And a smart manager, or businessman, or Army Captain on up, realizes this and either learns from his mistakes in order to succeed, or he'll fail over, and over, and over again. The trick of life, Harford says, is to learn from your mistakes. This is such a truism that you'd not think anyone could hang a book around it except a feel-good psychologist -- but Harford is an economist (one of his other books is called "The Undercover Economist") and he looks at things more scientifically and rationally than I'd expected when I'd ordered this book. I appreciated the insights being given here in "Adapt" precisely because Harford used case studies that were provable and relevant. It added a great deal to the readability of this book by covering topical subjects (including the TransOcean fiasco which poured billions of gallons of oil into the Gulf of Mexico) in an entertaining, fast-moving, yet brilliant way . . . all I can say is bravo to Harford, and bravissimo to his editor. A shade under five stars (rounded up for Amazon's purposes), highly recommended for anyone who wants to understand the economy a little better -- or better yet, wants to figure out how to learn from his own mistakes in order to succeed the next time out. Barb Caffrey
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