Summary: Success arises when we transform significantly, not just do marginally better. We must give ourselves and our teams mandates, time and incentives to ponder and execute such transformations.
Last month, MIT professor and economist Esther Duflo won the prestigious John Bates Clark award, for the person under 40 who contributed most to economics. There is an inspiring profile of her in The New Yorker (May 17, 2010). Dr Duflo performs economic experiments in developing countries, exploring important problems statistically (for example, that quotas requiring proportional representation for women in elections do, in fact, reduce societal bias). Such experiments give us clearer direction for future action. Continue reading