"The financial crisis of 2008 was not caused……" — James Surowiecki
"The financial crisis of 2008 was not caused by investment banks betting against the housing market in 2007. It was caused by the fact that too few investors - including all of the big investment banks - bet too heavily on the housing market in the years before 2007."
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James Surowiecki
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150 Quotes by James Surowiecki
James Surowiecki has 150 quotes on this site.
A few more worth reading:
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Auto repair, piloting, skiing, perhaps even management: these are skills that yield to application, hard work, and native talent. But…
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Lack of confidence, sometimes alternating with unrealistic dreams of heroic success, often leads to procrastination, and many studies suggest that…
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It's a familiar truism that at any one moment, financial markets are dominated by either fear or greed. But the…
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Bubbles and crashes are textbook examples of collective decision making gone wrong. In a bubble, all of the conditions that…
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If small groups are included in the decision-making process, then they should be allowed to make decisions. If an organization…
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Diversity and independence are important because the best collective decisions are the product of disagreement and contest, not consensus or…
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Groups are only smart when there is a balance between the information that everyone in the group shares and the…
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But, if recent history has taught us anything, it’s that self-regulation doesn’t work in finance, and that worries about reputation…
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Paradoxically, the best way for a group to be smart is for each person in it to think and act…
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This intelligence, or what I'll call "the wisdom of crowds," is at work in the world in many different guises.…
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The fact that cognitive diversity matters does not mean that if you assemble a group of diverse but thoroughly uninformed…
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One key to successful group decisions is getting people to pay much less attention to what everyone else is saying.
See all 150 quotes by James Surowiecki »
More All Quotes
This quote is filed under All Quotes,
one of 128,558 quotes in that category. Here are a few more:
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Total loyalty is possible only when fidelity is emptied of all concrete content, from which changes of mind might naturally…
— Hannah Arendt
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No cause is left but the most ancient of all, the one, in fact, that from the beginning of our…
— Hannah Arendt
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The ultimate end of human acts is eudaimonia, happiness in the sense of living well, which all men desire; all…
— Hannah Arendt
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The new always happens against the overwhelming odds of statistical laws and their probability, which for all practical, everyday purposes…
— Hannah Arendt
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Where all are guilty, no one is; confessions of collective guilt are the best possible safeguard against the discovery of…
— Hannah Arendt
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We have almost succeeded in leveling all human activities to the common denominator of securing the necessities of life and…
— Hannah Arendt
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I keep my friends as misers do their treasure, because, of all the things granted us by wisdom, none is…
— Pietro Aretino
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We must all make peace so that we can all live in peace.
— Jean-Bertrand Aristide
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The spirit of Ubuntu, that once led Haiti to emerge as the first independent black nation in 1804, helped Venezuela,…
— Jean-Bertrand Aristide
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As we all know, many people remain buried under tons of rubble and debris, waiting to be rescued. When we…
— Jean-Bertrand Aristide
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Wise people, even though all laws were abolished, would still lead the same life.
— Aristophanes
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A friend to all is a friend to none.
— Aristotle
See all 128,558 All Quotes »
