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Adapt: Why Success Always Starts with Failure Hardcover – Bargain Price, May 10, 2011


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Hardcover, Bargain Price, May 10, 2011
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Product Details

  • Hardcover: 320 pages
  • Publisher: Farrar, Straus and Giroux (May 10, 2011)
  • Language: English
  • ISBN-10: 0374100969
  • ASIN: B0085RZFAU
  • Product Dimensions: 9 x 6.3 x 1.3 inches
  • Shipping Weight: 1 pounds
  • Average Customer Review: 4.1 out of 5 stars  See all reviews (72 customer reviews)
  • Amazon Best Sellers Rank: #1,334,288 in Books (See Top 100 in Books)

Editorial Reviews

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

About 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 magazine, Wired, The Washington Post, and The New York Times. His previous books include The Undercover Economist and The Logic of Life. Harford presents the popular BBC radio show More or Less and is a visiting fellow at London's Cass Business School. He is the winner of the 2006 Bastiat Prize for economic journalism and the 2010 Royal Statistical Society Award for excellence in journalism.


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.

Customer Reviews

4.1 out of 5 stars
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9
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See all 72 customer reviews
If you've always done something a particular way, it's probably wrong.
Carrol Wolverton
I found the book interesting throughout, possibly because I like reading anecdotes and give life to the points authors try to make.
S. Jamal
Also useful is the fact that many examples are very very current and the academic references are very up to date.
Stefano Bertolo

Most Helpful Customer Reviews

63 of 67 people found the following review helpful By John Chancellor TOP 500 REVIEWERVINE VOICE on April 4, 2011
Format: Hardcover Vine Customer Review of Free Product ( 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.
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92 of 101 people found the following review helpful By PriceTheory on May 22, 2011
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.
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18 of 20 people found the following review helpful By Aretae VINE VOICE on May 10, 2011
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.
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