Why Most Things Fail by Paul Ormerod is the essential book on why some businesses fail . . . and how to avoid it.
Paul Ormerod is a theoretical economist who is currently researching complexity, complex systems, nonlinear feedback, the boom and bust cycle of business and economic competition. Ormerod uses a multidisciplinary approach, making use of biology, physics, mathematics, statistics and psychology as sources of results that can be applied to economics. He has written the books The Death of Economics and Butterfly Economics as well as many articles.
"'Engrossing and entertaining... A careful, comprehensible analysis of the limits of human rationality's ability to control the world.' Alasdair Palmer, Sunday Telegraph 'Gripping stuff.' Krishna Guha, Financial Times"