Economist Andrew Lo talks to the FT's John Authers about his adaptive markets hypothesis, the idea that markets develop and adapt over time and should be modelled using concepts from biology instead of physics. It's the subject of his recent book, Adaptive Markets: Financial Evolution at the Speed of Thought. This interview was originally published on March 24, 2017. Music by Podington Bear.  For information regarding your data privacy, visit acast.com/privacy