Less is more? Think again EXEMPLAR
Topic: Diversity
by Jocelyn, 2020 Cohort
We live in a world today where minimalism is a trend. Live simple! Less is more! But less of what? Are we usually wanting more of the same things, or are we just wanting to diversify what we already have?
Let’s say you’re shopping for your new bedroom. You could buy multiple beds, but you wouldn’t be any better off. This is because every time something of the same type is added to a system, it is less valuable than the first. This is known as diminishing returns in economics.
Meanwhile, if you buy a dresser, lamp and a bed, the diverse functions of these components make your room more comfortable and functional.
When the phrase ‘less is more’ is thrown around however, this differentiation is neglected, which can make us overlook how valuable and necessary diversity is in our world.
In fact, its undeniable that the complex physical, ecological, economic, political and social systems we live in and interact with, all consist of diverse, interdependent components. But just why are they so diverse? The answer: diversity makes our systems more resilient and functional.
Firstly, diverse environments ensure the survival of species. A species goes into decline when it uses up too much of its food source, or the number of its predator increases. However, diverse environments and independent systems enable organisms to rely on multiple resources for survival. Therefore, diverse systems prevent them from becoming extinct.
What about those born less fit, how do they add to our diversity? Some organisms may explore new habitats, or become minorities in their use of resources in the ecosystem. Instead of competing with the fittest, they can scavenge for less favourable resources that have a lower consumption rate. Whilst minorities may have a harder time surviving due to less resources available, a flourishing majority could overexploit the resources they strongly depend on. When environmental conditions change, they would be more robust than the formerly fit population.
Likewise, research has shown that workplace diversity brings many benefits. Diverse, highly inclusive teams are better decision makers than individuals by 87% and more likely to hit their financial target goals by up to 120%. This is because strong homogeneous cultures, consisting of people with similar cultures, perspectives and socioeconomic circumstances reinforce the natural cognitive pressure to conform. Diverse workplaces meanwhile, can reduce individuals’ fear of being rejected for who they are and the ideas they voice. Therefore, on top of the increased perspectives and ideas a wider talent pool provides, diversity encourages people to think outside their comfort zone, stimulating creativity and innovation.
Overall, diversity helps our complex systems thrive. When diversity is reduced in natural or human systems, they become less resilient and more vulnerable to collapse. The 2008 financial crisis was largely caused by a lack of diversity in financial products and strategies. The 19th century Irish potato famine resulted from monocultural farming that had repeatedly led to crop failures. So, we can’t put all our eggs in one basket. The complexity of systems in our world is accelerating, and we face widely anticipated global challenges. Diversity will be crucial to survive and prosper.
So, less is more?
Think again.
Disclaimer#
This content has been contributed by a student as part of a learning activity.
If there are inaccuracies, or opportunities for significant improvement on this topic, feedback is welcome on how to improve the resource.
You can improve articles on this topic as a student in "Unravelling Complexity", or by including the amendments in an email to: Chris.Browne@anu.edu.au