Why most things fail : evolution, extinction and economics / Paul Ormerod.Material type: TextPublisher: New York : Pantheon Books, c2005Edition: 1st American edDescription: xi, 255 p. : ill. ; 22 cmISBN: 0375424059; 9780375424052Subject(s): Business failures | Evolution (Biology) | Extinction (Biology)DDC classification: 330.1 | 338.74 LOC classification: HG3761 | .O76 2005
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|Book||University of Texas At Tyler Stacks - 3rd Floor||HG3761 .O76 2005 (Browse shelf)||Available||0000001839380|
Includes bibliographical references (p. -245) and index.
1. The Edwardian explosion -- 2. A formula for failure -- 3. Up a bit, then down a bit -- 4. Making sense of segregation -- 5. Playing by the rules -- 6. A game of chess -- 7. "The best-laid schemes ..." -- 8. Doves and hawks -- 9. Patterns in the dark -- 10. The powers that be -- 11. Take your pick? -- 12. Resolving the dilemma -- 13. Why things fail -- 14. What is to be done?
With the same originality and astuteness that marked his widely praised Butterfly Economics, Paul Ormerod now examines the "Iron Law of Failure" as it applies to business and government-and explains what can be done about it. "Failure is all around us," asserts Ormerod. For every General Electric-still going strong after more than one hundred years-there are dozens of businesses like Central Leather, which was one of the world's largest companies in 1912 but was liquidated in 1952. Ormerod debunks conventional economic theory-that the world economy ticks along in perfect equilibrium according to the best-laid plans of business and government-and delves into the reasons for the failure of brands, entire companies, and public policies. Inspired by recent advances in evolutionary theory and biology, Ormerod illuminates the ways in which companies and policy-setting sectors of government behave much like living organisms: unless they evolve, they die. But he also makes clear how desirable social and economic outcomes may be achieved when individuals, companies and governments adapt in response to the actual behavior and requirements of their customers and constituents. Why Most Things Fail is a fascinating and provocative study of a truth all too seldom acknowledged.