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5min chapter
Inside Humanity's Infinite Improbability Drive - Matt Ridley
The Joe Walker Podcast
The Connection Between Innovation and Uncertainty
Mervyn King has a new book out with John Kay called Radical Uncertainty. It summarizes both Knight and Keynes on the connection between innovation and entrepreneurship, but also uncertainty. The key ingredient of entrepreneurs and innovators was a preparedness to risk failing. That primordial soup from which innovation arises is also a recipe for uncertainty. If you send everybody to jail just because their business fails, you're sending the wrong incentives to entrepreneurs.
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