Oph Topik: Destroying Success By Preventing Failure

"We can't allow banks to fail." "We can't allow unemployment to rise." "We can't allow the stock market, or any other market to endure a correction phase." We will succeed by preventing failure!

We've probably heard the first three quotes quite often, especially in these uncertain times. The last phrase, however, seems to be the implication of the other three - that we can prevent failure and thus create success. But what is success? And furthermore, what is growth?

The human body offers some insight to growth, especially when we evaluate muscles. Muscles grow when we bring them to failure. That's right: by pushing our muscles to the point at which they can't go further, they grow stronger than before their failure. By preventing failure, we prevent growth. If growth is our measure of success, we stopped it. Now don't me wrong, experiencing muscle failure isn't fun - the muscles hurt and they may remain sore for several days. But they're growing, stronger. And when they recover, they can handle larger loads.

The economy differs very little. A strong economy, which is growing, comes from poor ideas failing and good ideas succeeding. If we rewarded the bad ideas, which failed, our economy would fail. Yet look around: isn't that what we're doing with bailouts?

This week, media have discussed more bailouts for institutions that continue to act recklessly. On top of that, some countries need more money than the original bailout they received. Why? Their business and economic models failed to provide them with a sound system, and when they received bailouts, they continued their unsound model with a few "tweeks." The justification for continued bailouts is pure fear: things will get much worse if we allow these institutions or countries to fail. This fear of failure thus becomes the underlying reason why we try to prevent failure, thinking that this will equal success.

But make no mistake, we all fear failure, whether we fear it on an individual, economic or government level. And many will stop at nothing to avoid failure. Yet man's apotheosis comes not from his success, but when he learns and rises on his own strength after he fails.