Category: Books

“The World Is Not Only Stranger than We Imagine, It Is Stranger than We Can Imagine”

(p. 238) The British geneticist J. B. S. Haldane once commented, “The world is not only stranger than we imagine, it is stranger than we can imagine.” This famous quote is often used to support the notion that the mysteries of the universe are beyond our understanding. Here is another way to interpret his insight: Because so much is out there that is beyond our imagination, it is likely that we will discover new truths only when we accidentally stumble upon them. Development can then proceed apace.

Source:
Meyers, Morton A. Happy Accidents: Serendipity in Modern Medical Breakthroughs. New York: Arcade Publishing, 2007.
(Note: I have corrected a typo in the Haldane quote. Meyers mistakenly has “that” for the second “than.”)

“What Valuable Company Is Nobody Building?”

(p. A15) Peter Thiel is larger than life even for a Silicon Valley billionaire. He co-founded PayPal, was the first investor in Facebook , and funded LinkedIn, Spotify, SpaceX and Airbnb. Now he has written a much-needed explanation of the information economy, masquerading as a breezy how-to book for entrepreneurs. “Zero to One: Notes on Startups, or How to Build the Future” is based on lectures Mr. Thiel gave at Stanford.
He hopes more entrepreneurs will focus on big ideas for health, energy and transportation; his venture firm’s tag line is “They promised us flying cars and all we got was 140 characters,” a reference to Twitter. His explanation of innovation is also a primer on how free markets work. He encourages entrepreneurs to ask: “What valuable company is nobody building?”

For the full commentary, see:
L. GORDON CROVITZ. “INFORMATION AGE; Three Cheers for ‘Creative Monopolies’.” The Wall Street Journal (Mon., Oct. 13, 2014): A15.
(Note: the online version of the commentary has the date Oct. 12, 2014.)

The book praised in the passage quoted above is:
Thiel, Peter, and Blake Masters. Zero to One: Notes on Startups, or How to Build the Future. New York: Crown Business, 2014.

Alertness to What Problem Can Be Solved with Unexpected Results

(p. 208) “Every scientist must occasionally turn around and ask not merely, ‘How can I solve this problem?’ but, ‘Now that I have come to a result, what problem have I solved?” This use of reverse questions is of tremendous value precisely at the deepest parts of science.”–NORBERT WIENER, INVENTION:THE CARE AND FEEDING OF IDEAS

Source:
Norbert Wiener as quoted in Meyers, Morton A. Happy Accidents: Serendipity in Modern Medical Breakthroughs. New York: Arcade Publishing, 2007.

Churchill Was More than an Epiphenomenon

(p. C2) It is easy to see why so many historians and historiographers have taken the Tolstoyan line, that the story of humanity isn’t the story of great people and shining deeds. It has been fashionable to say that those so-called great men and women are just epiphenomena, meretricious bubbles on the vast tides of social history. The real story, on this view, is about deep economic forces, technological advances, changes in the price of sorghum, the overwhelming weight of an infinite number of mundane human actions.
The story of Winston Churchill is a pretty withering retort to all that malarkey.

For the full essay, see:
BORIS JOHNSON. “He Still Stands Alone.” The Wall Street Journal (Sat., Nov. 8, 2014): C1-C2.
(Note: the online version of the essay has the date Nov. 7, 2014, and has the title “Churchill Still Stands Alone.”)

The passage quoted above is related to Johnson’s book:
Johnson, Boris. The Churchill Factor: How One Man Made History. New York: Riverhead, 2014.

Forssmann’s Courage Rewarded with “Professional Criticism and Scorn”

(p. 197) Forssmann’s report in the leading German medical journal garnered him not hosannas but instead fierce professional criticism and scorn. In response to a senior physician who claimed undocumented priority for the procedure, the twenty-five-year-old Forssmann was forced to provide an addendum to his publication one month later. Rigid dogmatism and an authoritarian hierarchy characterized the German medicine of that day. The human heart, as the center of life, was considered inviolable by instrumentation and surgery.

Source:
Meyers, Morton A. Happy Accidents: Serendipity in Modern Medical Breakthroughs. New York: Arcade Publishing, 2007.

Edison Claimed an Inventor Needs “a Logical Mind that Sees Analogies”

(p. C3) Thomas Edison famously said that genius requires “1% inspiration and 99% perspiration.” Edison’s third criterion for would-be innovators is less well-known but perhaps even more vital: “a logical mind that sees analogies.”
. . .
The art of analogy flows from creative re-categorization and the information that we extract from surprising sources. Take the invention of the moving assembly line. Credit for this breakthrough typically goes to Henry Ford, but it was actually the brainchild of a young Ford mechanic named Bill Klann. After watching butchers at a meatpacking plant disassemble carcasses moving past them along an overhead trolley, Klann thought that auto workers could assemble cars through a similar process by adding pieces to a chassis moving along rails.
Overcoming significant management skepticism, Klann and his cohorts built a moving assembly line. Within four months, Ford’s line had cut the time it took to build a Model T from 12 hours per vehicle to just 90 minutes. In short order, the moving assembly line revolutionized manufacturing and unlocked trillions of dollars in economic potential. And while in retrospect this innovation may seem like a simple, obvious step forward, it wasn’t; the underlying analogy between moving disassembly and moving assembly had eluded everyone until Klann grasped its potential.

For the full essay, see:
JOHN POLLACK. “Four Ways to Innovate through Analogies; Many of history’s most important breakthroughs were made by seeing analogies–for example, how a plane is like a bike.” The Wall Street Journal (Sat., Nov. 8, 2014): C3.
(Note: ellipsis added.)
(Note: the online version of the essay has the date Nov. 7, 2014, and has the title “Four Ways to Innovate through Analogies; Many of history’s most important breakthroughs were made by seeing analogies–for example, how a plane is like a bike.”)

The passages quoted above are related to Pollack’s book:
Pollack, John. Shortcut: How Analogies Reveal Connections, Spark Innovation, and Sell Our Greatest Ideas. New York, NY: Gotham Books, 2014.

Denied Approval to Catheterize Hearts, Forssmann Catheterized His Own

(p. 195) Forssmann received his medical degree from the University of Berlin in 1929. That year, he interned at a small hospital northwest of Berlin, the Auguste-Viktoria-Heim in Eberswalde. He pleaded with his superiors for approval to try a new procedure–to inject drugs directly into the heart–but was unable to persuade them of his new concept’s validity. Undaunted, Forssmann proceeded on his own. His goal was to improve upon the administration of drugs into the central circulation during emergency operations.
The circumstances of the incident on November 5, 1929, revealed by Forssmann in his autobiography, could hardly have been (p. 196) more dramatic. The account reflects Forssmann’s dogged determination, willpower, and extraordinary courage. He gained the trust of the surgical nurse who provided access to the necessary instruments. So carried away by Forssmann’s vision, she volunteered herself to undergo the experiment. Pretending to go along with her, Forssmann strapped her down to the table in a small operating room while his colleagues took their afternoon naps. When she wasn’t looking, he anesthetized his own left elbow crease. Once the local anesthetic took effect, Forssmann quickly performed a surgical cutdown to expose his vein and boldly manipulated a flexible ureteral catheter 30 cm toward his heart. This thin sterile rubber tubing used by urologists to drain urine from the kidney was 65 cm long (about 26 inches). He then released the angry nurse.
They walked down two flights of stairs to the X-ray department, where he fearlessly advanced the catheter into the upper chamber (atrium) on the right side of his heart, following its course on a fluoroscopic screen with the aid of a mirror held by the nurse. (Fluoroscopy is an X-ray technique whereby movement of a body organ, an introduced dye, or a catheter within the body can be followed in real time.) He documented his experiment with an X-ray film. Forssmann was oblivious to the danger of abnormal, potentially fatal heart rhythms that can be provoked when anything touches the sensitive endocardium, the inside lining of the heart chambers.

Source:
Meyers, Morton A. Happy Accidents: Serendipity in Modern Medical Breakthroughs. New York: Arcade Publishing, 2007.

Lippmann Attacked FDR’s Socialist National Industrial Recovery Act

(p. A13) . . . Duke economic historian Craufurd D. Goodwin employs the writings of the once-famous newspaper columnist Walter Lippmann to describe the fervid U.S. debates that began with the 1929 stock-market crash.
. . .
Lippmann established his intellectual credentials in the 1920s, writing several well-received books. They included “Public Opinion,” which excoriated the press for sloppy coverage of government policies and actions. The book is often seen as a call for top-down rule by experts, but Mr. Goodwin argues that Lippmann had something else in mind–that he was eager for expert opinion and “reasoned study” to be widely disseminated so that self-government would be more fully informed and the citizenry less easily manipulated.
. . .
At first, Lippmann embraced the Keynesian argument that government could ameliorate downswings in business cycles through deficit spending, but he later had second thoughts about economic engineering and became more attuned to the free-market ideas of Friedrich Hayek, whom he knew and consulted.   . . .    Lippmann attacked as ill-conceived the most ambitious New Deal brainstorm, the 1933 National Industrial Recovery Act, which attempted to organize all business and industry into cartels to boost prices.

For the full review, see:
GEORGE MELLOAN. “BOOKSHELF; The Umpire of American Public Debate; Certain that a return of investment confidence would restore prosperity, Lippmann criticized those that blamed Wall Street for the malaise.” The Wall Street Journal (Tues., Oct. 14, 2014): A13.
(Note: ellipses added.)
(Note: the online version of the review has the date Oct. 13, 2014, and has the title “BOOKSHELF; Walter Lippmann: Umpire of American Public Debate; Certain that a return of investment confidence would restore prosperity, Lippmann criticized those that blamed Wall Street for the malaise.”)

The book under review, is:
Goodwin, Craufurd D. Walter Lippmann: Public Economist. Cambridge, MA: Harvard University Press, 2014.

Major Cancer Drugs Have Come from Unexpected Sources

(p. 182) Starting in the last decades of the twentieth century, last decades of the twentieth century, sophisticated genetics and molecular biology have been aimed toward a more precise understanding of the cell’s mechanisms. Yet, even here, chance has continued to be a big factor. Surprising discoveries led to uncovering cancer-inducing genes (oncogenes) and tumor-suppressing genes, both of which are normal cellular genes that, when mutated, can induce a biological effect that predisposes the cell to cancer development. A search for blood substitutes led to anti-angiogenesis drugs. Veterinary medicine led to oncogenes and vaccine preparations to tumor-suppressor genes. In one of the greatest serendipitous discoveries of (p. 183) modern medicine, stem cells were stumbled upon during research on radiation effects on the blood.
Experience has clearly shown that major cancer drugs have been discovered by independent, thoughtful, and self-motivated researchers–the cancer war’s “guerrillas,” to use the reigning metaphor–from unexpected sources: from chemical warfare (nitrogen mustard), nutritional research (methotrexate), medicinal folklore (the vinca alkaloids), bacteriologic research (cisplatin), biochemistry research (sex hormones), blood storage research (angiogenic inhibitors), clinical observations (COX-2 inhibitors), and embryology (thalidomide).

Source:
Meyers, Morton A. Happy Accidents: Serendipity in Modern Medical Breakthroughs. New York: Arcade Publishing, 2007.

Affordable Care Act Reduces GDP, Employment and Labor Income

(p. A17) Whether the Affordable Care Act lives up to its name depends on how, or whether, you consider its consequences for the wider economy.
. . .
I estimate that the ACA’s long-term impact will include about 3% less weekly employment, 3% fewer aggregate work hours, 2% less GDP and 2% less labor income. These effects will be visible and obvious by 2017, if not before. The employment and hours estimates are based on the combined amount of the law’s new taxes and disincentives and on historical research on the aggregate effects of each dollar of taxation. The GDP and income estimates reflect lower amounts of labor as well as the law’s effects on the productivity of each hour of labor.
. . .
The Affordable Care Act is weakening the economy. And for the large number of families and individuals who continue to pay for their own health care, health care is now less affordable.

For the full commentary, see:
CASEY B. MULLIGAN. “OPINION; The Myth of ObamaCare’s Affordability; The law’s perverse incentives will have the nation working fewer hours, and working those hours less productively.” The Wall Street Journal (Tues., SEPTEMBER 9, 2014): A17.
(Note: ellipses added.)
(Note: the online version of the commentary has the date SEPTEMBER 8, 2014.)

Mulligan’s research on the effects of Obamacare is detailed in his Kindle e-book:
Mulligan, Casey B. Side Effects: The Economic Consequences of the Health Reform. Flossmoor, IL: JMJ Economics, 2014.