benefits of failure

J. K. Rowling, the lady who gave birth to Harry Potter delivered her Commencement Address at Harvard on benefit of failure and importance of imagination. In the following paragraphs I have taken some portion of her speech on failure and imagination which I found to be interesting reflection on life.
This is how, today Rowling thinks of failure in her youth for which she believed her parents were to be held responsible ---“ I would like to make it clear, in parenthesis, that I do not blame my parents for their point of view. There is an expiry date on blaming your parents for steering you in the wrong direction; the moment you are old enough to take the wheel, responsibility lies with you. What is more, I cannot criticise my parents for hoping that I would never experience poverty. They had been poor themselves, and I have since been poor, and I quite agree with them that it is not an ennobling experience. Poverty entails fear, and stress, and sometimes depression; it means a thousand petty humiliations and hardships. Climbing out of poverty by your own efforts, that is indeed something on which to pride yourself, but poverty itself is romanticised only by fools.”
“You might never fail on the scale I did, but some failure in life is inevitable. It is impossible to live without failing at something, unless you live so cautiously that you might as well not have lived at all - in which case, you fail by default”
About importance of imagination this is what Rowling has to say, “In its arguably most transformative and revelatory capacity, it is the power that enables us to empathise with humans whose experiences we have never shared”.
… ‘many prefer not to exercise their imaginations at all. They choose to remain comfortably within the bounds of their own experience, never troubling to wonder how it would feel to have been born other than they are. They can refuse to hear screams or to peer inside cages; they can close their minds and hearts to any suffering that does not touch them personally; they can refuse to know”
“We do not need magic to change the world, we carry all the power we need inside ourselves already: we have the power to imagine better”.
She ended her lecture with ……”As is a tale, so is life: not how long it is, but how good it is, is what matters.”