New Museum of Failure

A new Museum of Failure in Sweden stands as a tribute to the notion that failure is just an opportunity for learning, powering growth and future innovation. I thought no group could appreciate that as much as Credit Slips readers. Europe is still in the process of shaking off its ages old stigma with respect to failure, especially in the context of individual entrepreneurialism. It's amazing how difficult real reform of both business and personal insolvency law has been and continues to be there (and elsewhere outside the Anglo-American world). I've long thought that shaking off these hangups, embracing failure, and facilitating fresh innovation are among the core attitudes that have made America great. Three cheers for failure!

Comments

[RaCo]

AS cultures are not so much about second chances, it is all about property rights of the creditors, there are still holdouts against Argentina. I am sure that every creditor will holdout when it comes to the debt restructuring of Venezuela. Only when it is about Americans then suddenly a law is created to make holding out difficult/impossible (Promesa).

Sure Argentina and Venezuela have failed but so has Puerto Rico.

And there are plenty of from rags to rags stories in the US, despite the three cheers for failure. Life expectancy is decreasing in the US, despite the three cheers for failure.

[Phillip Allen]

I believe that RaCo has massively missed the point. #Bravo