Tim Harford on hit-and-miss success

Another gem from TED.

Voting for failure and the triumph of serendipity

Tim Harford is the author of “The Undercover Economist”, an outstanding book which explains practical economics without using formulae. Here on TED he tells us why trial and error beats teams of PhDs and why those political candidates’ promises are totally empty.

Tim Harford studies complex systems — and finds a surprising link among the successful ones: they were built through trial and error. In this sparkling talk from TEDGlobal 2011, he asks us to embrace our randomness and start making better mistakes.