A study of failure within business, economics and government. It argues that failure is the distinguishing feature of corporate life and uses it to link economic models with models of biological evolution. It illuminates the ways in which companies and policy-setting sectors of government behave like living organisms: unless they evolve, they die.
Paul Ormerod, a theoretical economist and successful businessman, has served as the head of the Economic Assessment Unit at The Economist and the director of economics at the Henley Centre for Forecasting in England. He has taught economics at the University of London and the University of Manchester. Ormerod is founder of the consulting firm Volterra and is an alumnus of Oxford University and Cambridge University.