Another month has passed and here is a new rationality quotes thread. The usual rules are:
- Please post all quotes separately, so that they can be upvoted or downvoted separately. (If they are strongly related, reply to your own comments. If strongly ordered, then go ahead and post them together.)
- Do not quote yourself.
- Do not quote from Less Wrong itself, HPMoR, Eliezer Yudkowsky, or Robin Hanson. If you'd like to revive an old quote from one of those sources, please do so here.
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And one new rule:
- Provide sufficient information (URL, title, date, page number, etc.) to enable a reader to find the place where you read the quote, or its original source if available. Do not quote with only a name.
Or with smart people who profit at the state's expense when it rescues fools from their mistakes. If it's known that folly has no adverse results, people will take more risks.
While this is true, it may also be the case that humans in the default state don't take enough risks. Indeed, an inventor or entrepreneur bears all the costs of bankruptcy but captures only some of the benefits of a new business. By classical economic logic, then, risk-taking is a public good, and undersupplied. Which said, admittedly, not all risk-taking is created equal.