Source: Adam Smith Institute
by Madsen Pirie
“Biological evolution, scientific progress and the market economy run on the same engine. Something new is tried. Most attempts fail. The few that survive are kept and built upon. Genes, theories and businesses all advance this way, by trial and the elimination of error. The obvious objection is that nature is random while science and commerce are purposive. Mutations happen by accident. Scientists and entrepreneurs act by design. Surely that changes everything? It changes less than it seems. What is random in nature is the variation, not the selection.” (11/03/26)
https://www.adamsmith.org/blog/genes-guesses-and-going-concerns