“ How did the economy produce all these amazing things that we have around us - computers and cell phones and so on? There were a bunch of ideas, and the good ones grew and prospered. And the bad ones w… Tim Harford
“ If the whole process of learning from failure means discarding stuff that's not working, but in fact, our natural reaction is to keep going, to throw more money behind it, to throw more emotional ener… Tim Harford
“ Failure's inevitable. It happens all the time in a complex economy. And how did the economy produce all these amazing things that we have around us, computers and cell phones and so on? Well, the proc… Tim Harford
“ Consider the situation: Money that was provided because of social networks rather than need; a project designed for prestige rather than to be used; a lack of monitoring and accountability; and an arc… Tim Harford
“ Accepting trial and error means accepting error. It means taking problems in our stride when a decision doesn't work out, whether through luck or misjudgment. And that is not something human brains se… Tim Harford
“ We still don't have a good word to describe what is missing in Cameroon, indeed in poor countries across the world. But we are starting to understand what it is. Some people call it 'social capital, o… Tim Harford
“ What, then, should you do? With an excellent hand, you should bet: You lose nothing if your opponent folds, while giving yourself a good chance of winning a big pot if he calls. But with a middling ha… Tim Harford
