Why Most Things Fail: Evolution, Extinction and Economics

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Faber & Faber, 2005 - Business failures - 255 pages
2 Reviews
From the best-selling author of The Death of Economics and Butterfly Economics, a ground-breaking look at a truth all too seldom acknowledged: most commercial and public policy ventures will not succeed. WorldCom, Enron, Yamaichi, Equitable Life, Andersen, Parmalat, Shell ... Around the world, corporate scandal - and full-scale collapse - has caught the headlines in a spectacular way, and investors avidly search for scapegoats. We all express surprise at such catastrophes - yet extinction is an inherent fact of life, and failure comes calling at the door of companies both gigantic and small. Over 17,000 companies will go bust this year in the UK alone. But is this a bad thing? And if so why does the US, with its hugely dynamic economy, see more than 10 per cent of companies disappear each year? In his inimitable fashion, Paul Ormerod draws upon recent advances in biology to help us understand the surprising consequences of the Iron Law of Failure. And he shows what strategies corporations, businesses and governments will need to adopt to stand a chance of prospering in a world where only one thing is certain.

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User Review  - Razinha - LibraryThing

For me, the only thing of value in the book was in two lines in the introduction: "The book's content is firmly grounded in reality. Too much work in the social sciences, whether it is the dense ... Read full review

LibraryThing Review

User Review  - nocto - LibraryThing

The hardback copy of this I read had the subtitle "Evolution, Extinction and Economics" but it looks like the paperback got the subtitle swizzled to "...and how to avoid it". I probably wouldn't have ... Read full review

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About the author (2005)

Paul Ormerod was for several years Head of the Economic Assessment Unit at The Economist. He was Director of Economics at the Henley Centre for Forecasting from 1982 to 1992, and has been a visiting Professor of Economics at London and Manchester. He has published widely in academic journals, lectures around the world, and is currently a director of Volterra Consulting. He is the author of Butterfly Economics and The Death of Economics.

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