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This Tim Harford keynote compares the successes of complex systems and the common thread that is crucial to all of their victories. He argues that randomness and chaos are essential components in novel creativity and that embracing trial and error will lead to more organic innovation and progress.
The speaker is a writer of the Undercover Economist column in the Financial Times and has authored his own book. His analysis of societal and financial structures boils down to one key variable; the world at large has become too concerned with predictability and control, and this stifles pure creative growth.
By embracing failing, he argues, the potential then exists to create something truly novel and unique. Improvisation and adaptability are far more powerful tools in the creative sector than control and rigid structure and only by developing an idea from the ground up does the potential to create something groundbreaking become possible.