The Up Side of Down: Why Failing Well Is the Key to Success by Megan McArdle (Viking, $27.95, 299 pages)
Yes, it’s OK to fail as long as you learn from your failure and keep on trying. Megan McArdle advocates a remarkable approach to achieving mastery and success in The Up Side of Down, an unusually titled book that is part pop culture/psychology, part memoir, and contains a whole bunch of useful information.
The book opens with an easy-to-understand definition of failure. Building upon the definition, McArdle expands the reader’s knowledge base by exploring the way societies operate. Her examples are spot on (e.g., California’s disastrous electric power deregulation and the collapse of the Soviet Union). Both of these events resulted in catastrophic failures – contrary to the economic theory of “creative destruction.”
McCardles’s example of mastery and success is charming. She sets up scenarios where the results of teamwork exercises are compared. The comparison is between a group of kindergartners and teams of MBAs and engineers. The task assigned to these teams is the construction of a tower of spaghetti. You’ll need to read the book to find out which team won.
While the book has a lively mix of pertinent examples of failure in each chapter category (virtuous society, experimenters, crisis), the threads that tie them together are admittedly sketchy at best.
A review copy was provided by the publisher.