12 Tim Harford Quotes for You to Enjoy

Tim Harford

English Economist

Born: 1973

Economics Failure Good People Think World

Related authors: Alfred Marshall Dudley North E. F. Schumacher John Maynard Keynes Nicholas Stern Thomas Malthus William Beveridge William Petty

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 process was trial and error. There were a bunch of ideas, and the good ones grew and prospered, and the bad ones were pretty ruthlessly weeded out. Tim Harford

Time Good Failure Phones Amazing Inevitable Cell Phones Trial Trial And Error Complex Out Bad Good Ones Pretty Bad Ones Computers Economy Ideas Well Around How Were Amazing Things Error Bunch Did Cell Grew Happens Process Produce Us Things

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 were pretty ruthlessly weeded out. Tim Harford

Good Phones Amazing Cell Phones Out Bad Good Ones Pretty Bad Ones Computers Economy Ideas Around How Were Amazing Things Bunch Did Cell Grew Produce Us Things

I never understand why 'economist makes forecast' is ever a headline. Whether the economist in question is from the International Monetary Fund, a City forecasting group or the Treasury - a forecast is still not news. Tim Harford

News Group City Never Headline Economist Forecast Forecasting Makes Understand Still Question Whether International Fund Why Ever Monetary Treasury

It's difficult because we tend to overrate the pain of failure. We fear it too much. That's research that emerges from psychology. We think it's going to be worse than it really is. And, I think, as we get a bit older, really after we leave school or college, we quickly stop experimenting. Tim Harford

Failure Fear School Too Much College Pain Research Older Difficult Think Too Worse Bit Emerges Tend Because Leave Quickly Than Get Going Stop After Experimenting Psychology Much Really

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. Tim Harford

Failure Learning Natural Problem Money Energy Our More Fact Throw Emotional Stuff Reaction Real Real Problem Going Behind In Fact Process Working Means Whole Keep Keep Going

I am aiming my books at anybody with no economics background. Tim Harford

Economics Aiming Books Background Am Anybody

In certain businesses, I would say 10 failures to one success is a perfectly acceptable ratio. Because the failures die pretty quickly, they're not that expensive, and the successes can be really huge. Tim Harford

Success Say Would Pretty Ratio Perfectly Failures Acceptable Because Huge Quickly Die Expensive Success Is Successes Really Certain Businesses

I don't think Brian Cox does 'The Wonders of the Solar System' because he believes the world would be a better place if people understood about the rings of Saturn; I just think he finds physics extremely interesting. It brings him joy, and he wants to spread the love. I feel the same about economics. Tim Harford

Love People Physics Joy World Better Solar Economics Think Solar System Extremely System Would Would-Be Rings Finds About Better Place He Feel Him Because Does Spread Understood Cox Same Wonders Just Wants Place Interesting Brian Believes Saturn Brings

Funnily enough, the Federal Reserve produced comics about monetary policy, and there is a good comic book guide to microeconomics and macroeconomics out there. But it is not really appropriate for younger readers; it is really aimed at economics students. Tim Harford

Good Book Economics Enough Appropriate Guide Out About Federal Federal Reserve Students Policy Readers Comic Comic Book Comics Younger Produced Really Reserve Monetary Monetary Policy

The supermarket chain Whole Foods has quite a radical employee empowerment program, where employees get to decide whether another employee can work in their team or not. If they think this person's a slacker, doesn't have good ideas, they can vote and say, no, we don't want this person to be working with us on the vegetable aisle. Tim Harford

Work Good Vote Employees Radical Think Good Ideas Say Aisle Supermarket Foods Vegetable Employee Ideas Empowerment Another Person Get Quite Where Want Decide Whether Us Working Team Whole Chain Whole Foods Program

Cory Doctorow should be too busy for lunch. He's co-editor of, and a prolific contributor to, one of the most influential blogs in the world, Boing Boing. Over the past decade the Canadian-born writer has published 16 books, mostly science fiction novels. He campaigns vigorously on the politics of the digital age. Tim Harford

Politics Science Age World Digital Past Busy Lunch Too Digital Age Books Prolific Writer He Over Most Mostly Science Fiction Blogs Past Decade Campaigns Decade Contributor Fiction Influential Should Novels Published

People today don't become economists to make the world a better place. Tim Harford

Today People World Better Become Better Place Economists Make Place

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