How the economy mimics evolution

There are many similarities between nature and the economy. Both are systems where there is competition for resources, and both have a process of selection where the fittest individuals (i.e. organisms or companies) are more likely to survive and reproduce. While in evolution changes take place by mutation and crossover (reproduction), in business it happens via pivoting, merger, acquisitions, expansion, etc. Additionally, both the economy and evolution are subject to the law of supply and demand. For example, organisms need food (demand), but they can only reproduce so much given that there is enough food (supply).

Both the economy and nature happen in an environment, i.e. earth, but the cause of changes in this environment is different. Environmental change, due to climate change, for instance, will affect natural selection. While this also will affect businesses to some degree, it will affect them much less. Instead, businesses are more influenced by other businesses. The best example of this is the rapid development of the technology sector. It has not just changed how businesses operate but how we live. Arguably, you could make a metaphor between technology and the evolution of humanity. Just like how technology is affecting the playing field of the economy, so are humans affecting the playing field of nature.