Harford on Adapt and the Virtues of Failure

Author and journalist Tim Harford talks with host Russ Roberts about Adapt, Harford's book on the virtues of failure and the trial and error process. He argues that success is more likely when there is experimentation and trial and error followed by adapting, rather than following a top-down, ex ante plan driven by expertise. The conversation looks at the what war can teach us about information, knowledge, and planning, the challenge of admitting mistakes, and the implications of trial and error for our daily lives.