Why Most Things Fail
(Paul Ormerod)
This excellent, short work by Paul Ormerod is a worthy successor to his remarkably successful Butterfly Economics. As he did in that work, he draws here on lessons from biology to explain phenomena in economics. He covers a wide range of subjects, time periods and theories, all tied together (though not without some straining at the rope) by an inquiry into failure. Although Ormerod makes every effort to keep the work accessible, that scarcely makes it is easy reading. Readers who lack at least a nodding acquaintance with scientific writings and economic studies may find this hard slogging indeed. With that caveat, I think that readers who have a background in this field should pay serious attention to Ormerod''s ideas. The notion that failure is inherent and inevitable for many systems ought to guide business strategies and - especially - government regulation
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