Tim Harford Quotes
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 energy behind it... that's a real problem.
Harford, Tim. "Why Is It So Hard To Accept Failure?" TED Radio Hour, NPR, 26 June 2015.
Actually learning psychology has demonstrated that learning can take place with success or failure, the learning is faster and more effective if the reinforcement is positive—not negative.
The Bay of Pigs
Two of the 20th centuries greatest political leaders were Mao Tse-Tung and Franklin Delano Roosevelt. In most respects, these two were polar opposites. However, they had one characteristic in common. They were both willing to try things they were not certain of. If they succeeded, make it a part of the national program. If it failed, try something else. See FDR 52,743.
Timothy Douglas Harford OBE is an English economist, broadcaster and journalist who lives in Oxford.