In many spheres of human endeavor, from science to business to education to economic policy, good decisions depend on good measurement.
Ben BernankeRead
I think one of the lessons of the Depression - and this is something that Franklin Roosevelt demonstrated - was that when orthodoxy fails, then you need to try new things. And he was very willing to try unorthodox approaches when the orthodox approach had shown that it was not adequate.
Interpretation
What this quote means
The quote emphasizes the importance of innovation and adaptability in times of crisis.
Ben Bernanke reflects on the lessons learned during the Great Depression, highlighting Franklin Roosevelt's willingness to abandon traditional methods and embrace innovative solutions when faced with failure. This adaptability is portrayed as essential for overcoming challenges, suggesting that rigid adherence to established practices can be detrimental in times of need.
Themes
InnovationAdaptabilityCrisisChangeLeadership
In practice
Example use cases
In a business meeting discussing strategies for economic recovery.
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