Lessons in Adaptation: Winning the War in Iraq, A Guest Post by Tim Harford
Here is another guest post on failure from author and Financial Times columnist Tim Harford, from his new book Adapt: Why Success Always Starts with Failure. In his first post, Harford wrote about why failure is often the mark of a healthy economy. Here, Harford writes about the process by which the U.S. military slowly learned from its early failures in the Iraq War. Hint: good ideas often come from the bottom and work their way up the chain of command.
Lessons in Adaptation: Winning the War in Iraq
By Tim Harford
In the spring of 1980, President Jimmy Carter gave the go-ahead for a daring special-operations mission called Eagle Claw. Fifty-two American hostages had been trapped for months in Tehran under a newly hostile revolutionary government, and negotiations appeared to have broken down. The operation called for helicopters and refueling aircraft to fly into the Iranian desert at night, under the radar screen, rendezvous in the middle of nowhere, refuel, and hide during the daylight hours. Read More »
Success and Succession
Peter Buffett, son of the investment giant Warren Buffett, admits that he won the “ovarian lottery.” But perhaps the best part of this genetic jackpot is that his dad didn’t pressure him to get involved at Berkshire Hathaway. Instead, the Buffett heir was encouraged to pursue his own interests, like composing music and philanthropy. This Read More »
The Morality of Economists
L’affaire Strauss-Kahn underscores my view that we economists are as immoral—but also as principled—as any other professionals. Innocent until proven guilty, and all that; but I now know of, or even know personally, economists who have engaged in sexual assault, embezzlement, murder and, of course, clearly immoral acts that are not criminal.
Yet it is also true that we are as generous as any other group. As Yezer, Goldfarb and Poppen showed in the Journal of Economic Perspectives, 1996, learning economics makes you no less charitable in your actions (although not in what you profess) than does studying any other discipline. And each of us can recount instances of personal charity and sacrifice by well-known economists, often on behalf of younger, less well-known colleagues.
As with so many other pairs of individual characteristics, the correlation between morality and, in this case, occupational choice is very low.
Lawyers Always Win, or: That’s Why It’s Called a Plea Bargain
From a Wall Street Journal article about Raj Rajaratnam‘s failed insider-trading defense strategy:
Mr. Rajaratnam is estimated to have paid as much as $40 million for his defense, according to people familiar with the matter and some lawyers not affiliated with the case, about two-thirds of the amount prosecutors said Galleon made from the insider trading addressed in the charges.
I bet I could have gotten him convicted on all 14 counts for $5 million, and I’m not even a lawyer. Read More »
and 
. If you haven’t seen it yet, the movie features Steven Levitt and Stephen Dubner, and was made by a dream team of documentary directors. Paste Magazine named it one of the 