Efficiency vs innovation

Total efficiency constrains us. We become super invested in maintaining the status quo because that is where we excel. Innovation is a threat. Change is terrifying. Being perfect at something is dangerous if it’s the only thing you can do.

—The Farnham Street Blog, in ‘Getting Ahead By Being Inefficient

The fifth risk

Jacques Delors, a former head of the European Commission who championed closer integration, rightly pointed out that “nobody can fall in love with the single market”. There is nothing flashy about reworking bankruptcy rules or tax regimes.

—The Economist in ‘A singular opportunity


This is very relevant in the times of Trump, BoJo and social media memes. Michael Lewis’ book, The Fifth Risk, touches on this in the US context. But like Jacques points out, it’s unglamorous work and his writing can only make it so much more interesting.