"The world's central banks and the International Monetary……" — James Surowiecki
"The world's central banks and the International Monetary Fund still have vaults full of bullion, even though currencies are no longer backed by gold. Governments hold on to it as a kind of magic symbol, a way of reassuring people that their money is real."
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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 Backed Quotes
This quote is filed under Backed Quotes,
one of 198 quotes in that category. Here are a few more:
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Flaming enthusiasm, backed up by horse sense and persistence, is the quality that most frequently makes for success.
— Dale Carnegie
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There is one statement I want you to keep after you are finished with this book. It is more of…
— Corey Taylor
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Allow yourself emotion-backed demands only for physical necessities such as air to breathe, food if starving, and shelter if freezing.
— Ken Keyes Jr.
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You're in the midst of a war: a battle between the limits of a crowd seeking the surrender of your…
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Those who have the command of the arms in a country are masters of the state, and have it in…
— Aristotle
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Marijuana legalization's income may help fund education, prevention and treatment programs for harder drugs. What's clear is that the four-decade-old…
— Andres Oppenheimer
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People get desperate when they're backed into a corner.
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Sent off, carried off, but never backed off.
— David Dunworth
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It's not enough for women to speak out on the issue - for the message to be strong and consistent,…
— John Conyers
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There has been opposition to experimenting on animals for a long time. This opposition has made little headway because experimenters,…
— Peter Singer
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It's a campaign strategy. He's all about getting the votes. I support gay marriage too, but Obama only does things…
— Barack Obama
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The taking of life is too absolute, too irreversible, for one human being to inflict on another, even when backed…
— Ban Ki-moon
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