Reporter James Fussell is right on (3/7, FYI, “The success of failure; Cushioning the falls — for our children or our banks — might cause more harm in the long run”). History is important to understand what happened and the consequences. It is useful to learn from these consequences and change the behavior that caused the bad outcome.
The word “outcome” was popular in the ’90s, as in “outcome-based education.” There, no one was allowed to fail, and the brightest or hardest-working students were held back to wait for all the others.
When will this world ever learn that there is a right and wrong, hard work and honesty pay off, and consequences are the result of dishonesty or laziness? Not in this bailout society, whether in school or government.