Edward Conard

Top Ten New York Times Bestselling Author

  • “…a very valuable contribution.” - Larry Summers, former Secretary of the Treasury and director of the National Economic Council, president emeritus, Harvard University
  • “Unintended Consequences provides a provocative interpretation of the causes of the global financial crisis and the policies needed to return to rapid growth. Whether you agree or not, this analysis is well worth reading.” - Nouriel Roubini, New York University; Chairman, Roubini Global Economics
  • “…serious thinking for serious thinkers. …a thought-provoking blueprint for growing middle- and working-class incomes.” - Mitt Romney, former Governor of Massachusetts
  • “…reminds us that inequality sends a signal of what society lacks most, in America’s case, entrepreneurship and risk taking.” - Lawrence Lindsey, CEO, The Lindsey Group, former Director of the National Economic Council
  • “…a comprehensive explanation of the modern economy.” - Julian Robertson, Founder, Tiger Management
  • “Unintended Consequences should be read by anyone who takes for granted the superiority of progressive taxation and has not thought carefully about the trade-offs involved.” - The New Republic
  • “…a fresh argument for the productive value of inequality.” - David Autor, Professor of Economics, Massachusetts Institute of Technology
  • “…a comprehensive explanation of the modern economy.” - Julian Robertson, Founder, Tiger Management
  • “Unintended Consequences represents the most cogent and persuasive analysis of the Financial Crisis to date.” - Andrei Shleifer, 1999 John Bates Clark Medal Winner
  • “…a very valuable contribution.” - Larry Summers, former Secretary of the Treasury and director of the National Economic Council, president emeritus, Harvard University
  • “Unintended Consequences is far smarter and more thought-provoking than most economics written for the general public” - Greg Mankiw, Harvard University, Former Chairman of the Council of Economic Advisors
  • “There are an amazing number of good ideas and interesting points made in Unintended Consequences. The thinking underlying it, and the obvious depth of understanding of the author, are very impressive.” - Steven Levitt, coauthor of Freakonomics; 2004 John Bates Clark Medal
Upside of Inequality Oxford Unintended Consequences

Economist Staff The Economist
Date Posted:
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Researchers who narrowly missed securing grants but persisted in reapplying outperformed those who succeeded initially, achieving 36% more citations & 39% more high-impact papers over a decade.

Researchers who narrowly missed securing grants but persisted in reapplying demonstrated superior long-term performance compared to those who succeeded initially. Over a decade, the near-miss group achieved 36% more citations and published 39% more high-impact papers (top 5% citations) than their initially successful peers. This data suggests that resilience and perseverance can significantly enhance scientific output, highlighting the economic value of grit alongside talent. Such findings may influence funding policies, encouraging support for applicants who show determination despite initial setbacks, potentially leading to greater innovation and productivity in the scientific community.

"...What did surprise was that those in the near-miss group who persevered and continued to apply for grants after their initial failure outperformed their counterparts who had succeeded first time, as measured by the number of citations of their research that they received over the subsequent ten years. On average, they garnered, over that period, 36% more citations and published 39% more “hit” papers (those with citations in the top 5%) than their near-win counterparts....."
Economist Staff, "In science, grit counts as well as talent,"The Economist, May 11, 2019, https://www.economist.com/science-and-technology/2019/05/11/in-science-grit-counts-as-well-as-talent