Economists Call Quotes by James Surowiecki

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James Surowiecki has 150 quotes on this site. A few more worth reading:

• Auto repair, piloting, skiing, perhaps even management: these are skills that yield to application, hard work, and native talent. But forecasting an…
• Lack of confidence, sometimes alternating with unrealistic dreams of heroic success, often leads to procrastination, and many studies suggest that procrastinators are…
• It's a familiar truism that at any one moment, financial markets are dominated by either fear or greed. But the healthiest markets…
• Bubbles and crashes are textbook examples of collective decision making gone wrong. In a bubble, all of the conditions that make groups…
• If small groups are included in the decision-making process, then they should be allowed to make decisions. If an organization sets up…
• Diversity and independence are important because the best collective decisions are the product of disagreement and contest, not consensus or compromise.
• Groups are only smart when there is a balance between the information that everyone in the group shares and the information that…
• But, if recent history has taught us anything, it’s that self-regulation doesn’t work in finance, and that worries about reputation are a…
• Paradoxically, the best way for a group to be smart is for each person in it to think and act as independently…
• This intelligence, or what I'll call "the wisdom of crowds," is at work in the world in many different guises. It's the…
• The fact that cognitive diversity matters does not mean that if you assemble a group of diverse but thoroughly uninformed people, their…
• One key to successful group decisions is getting people to pay much less attention to what everyone else is saying.

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