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“Throughout his last half-dozen books, for example, Arthur Koestler has been conducting a campaign against his own misunderstanding of Darwinism. He hopes to find some ordering force, constraining evolution to certain directions and overriding the influence of natural selection. [...] Darwinism is not the theory of capricious change that Koestler imagines. Random variation may be the raw material of change, but natural selection builds good design by rejecting most variants while accepting and accumulating the few that improve adaptation to local environments.”

“Innovators have to be open. They have to be able to imagine things that others cannot and be willing to challenge their own preconceptions. They also need to be conscientious. An innovator who has brilliant ideas but lacks the discipline and persistence to carry them out is merely a dreamer ... But crucially, innovators need to be disagreeable ... They are people willing to take social risks-to do things that others might disapprove of.”

“The government can always rescue the markets or interfere with contract law whenever it deems convenient with little or no apparent cost. (Investors believe this now and, worse still, the government believes it as well. We are probably doomed to a lasting legacy of government tampering with financial markets and the economy, which is likely to create the mother of all moral hazards. The government is blissfully unaware of the wisdom of Friedrich Hayek: "The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.")”