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Developing countries often have hypertrophied bureaucracies, requiring businesses to deal with enormous amounts of red tape.

James Surowiecki

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James Surowiecki
Age: 57
Born: 1967
Born: April 30
Journalist
Writer
Meriden
Connecticut
James Michael Surowiecki
Enormous
Bureaucracies
Countries
Requiring
Deal
Amounts
Amount
Bureaucracy
Deals
Businesses
Often
Tape
Country
Developing
Red

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In confusing stock options with ownership, corporations confuse trappings with substance.
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There does seem to be some evidence that as people get older, they procrastinate less, perhaps because they feel the pressure of time more.
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The history of the Internet is, in part, a series of opportunities missed.
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Sometimes even a smart crowd will make a mistake.
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In a world where companies increasingly know about their business in real time, it makes no sense that public reporting mostly follows the old quarterly schedule. Companies sit on vital information until reporting day, at which point the market goes crazy.
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If being the biggest company was a guarantee of success, we'd all be using IBM computers and driving GM cars.
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Companies, like people, don't much like to change.
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I think there is clearly a connection between free time and procrastination. The more you have of the former, all things being equal, the more likely you are to procrastinate.
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In industries where a lot of competitors are selling the same product - mangoes, gasoline, DVD players - price is the easiest way to distinguish yourself. The hope is that if you cut prices enough you can increase your market share, and even your profits. But this works only if your competitors won't, or can't, follow suit.
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Standards wars involve lots of variables, and understanding them often seems more an art than a science. They generally involve just two big players, and end in a winner-take-all situation.
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Groups are only smart when there is a balance between the information that everyone in the group shares and the information that each of the members of the group holds privately. It's the combination of all those pieces of independent information, some of them right, some of the wrong, that keeps the group wise.
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The typical American corporation is a shareholders' republic the same way that China is a peoples' republic.
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Popular as Keynesian fiscal policy may be, many economists are skeptical that it works. They argue that fine-tuning the economy is a virtually impossible task, and that fiscal-stimulus programs are usually too small, and arrive too late, to make a difference.
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You'll sometimes hear from people that they actually do a better job of getting their work done when they have a lot of other obligations - in effect, it removes the possibility of procrastinating.
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Self-dealing, essentially, occurs when managers run companies to line their own pockets instead of those of the companies' owners. It's been a perennial problem in American capitalism and became a real dilemma when America moved toward a model in which corporations would be run by professional managers who had only small ownership stakes.
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When all is said and done, cheap gas is an illusion, because our reliance on gas creates a whole series of costs that aren't factored in to the pump price - among them congestion, pollution, and increased risk of accidents.
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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 are a weak deterrent to corporate malfeasance.
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Moviegoers love the intricacies of a crime all the more when it's for a good cause.
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