Trial, error, and economics: Tim Harford, Undercover Economist

Colin Marshall talks to Tim Harford, also known as the Undercover Economist. He wrote the book of the same name as well as The Logic of Life and now Adapt: Why Success Always Starts with Failure. In this latest book, Harford examines the value of numerous small-scale experiments — numerous enough to try many different things, and small-scale enough to fail without serious consequence — in business, technology, medicine, finance, climate change, and even his own life and career.