Fail = Succeed

Just started reading the Black Swan, sequel to Fooled by Randomness, by Nassim Taleb.

He makes a point I had heard before and which I think is very valid.

People often argue that Capitalism Works because it allows for the right incentives... but Capitalism works more because it allows things to fail. Seth Godin talks about the power of small companies, and maybe that is the biggest lesson from the mess that is happening now. All these huge companies are failing, but they are so big that it sends off tidal waves of repercussions.

I don't claim to be an expert on Ford and GM, but something strikes me as not working if two companies that make cars that no one wants because other people are making better cars, get propped up.

They need propping up because SO many workers will lose their jobs in such a short space of time. But, people lose their jobs all the time, they figure out a way to make do, learn a new skill and move on.

Thing is, if you are entrenched in a behemoth of a company and the entire city revolves around a particular Industry, multi-skilling and moving on is really tough.

But... if things aren't allowed to fail, then we don't carry on trying to find better ways to do things.

I don't know what the answer is... how do you create an environment where people can fail, and businesses can fail, without everything else collapsing. Then they can get back up, and make something even better.

If you remove failure, you remove progress.