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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
Countries
Requiring
Deal
Amounts
Amount
Bureaucracy
Deals
Businesses
Often
Tape
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Developing
Red
Enormous
Bureaucracies
More quotes by James Surowiecki
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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In the auto industry, there's one thing you can always count on: if a new environmental or safety rule is proposed, executives will prophesy disaster.
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Downsizing itself is an inevitable part of any creatively destructive economy.
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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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Markets work best when there's lots of information available and a historical track record to go on they excel at predicting things like horse races, election outcomes, and box-office results. But they're bad at predicting things like who will be the next Supreme Court nominee, as that depends on the whim of the president.
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From a social point of view, it's beneficial that homeownership encourages commitment to a given town or city. But, from an economic point of view, it's good for people to be able to leave places where there's less work and move to places where there's more.
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The fact that industries wax and wane is a reality of any economic system that wants to remain dynamic and responsive to people's changing tastes.
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I tend to have a hard time working on pieces long before they're due. That's why I think the fact that I write a column is really good for me - the column has to be done, and there's no getting around it.
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On Wall Street, fraudulent schemes tend to thrive during economic booms, and to blow up when times turn tough.
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If private-equity firms are as good at remaking companies as they claim, they don't need tax loopholes to make money.
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All things being equal, letting people make decisions for themselves will produce smarter outcomes, collectively, than relying on government planners.
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What corporations fear is the phenomenon now known, rather inelegantly, as 'commoditization.' What the term means is simply the conversion of the market for a given product into a commodity market, which is characterized by declining prices and profit margins, increasing competition, and lowered barriers to entry.
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Diversity and independence are important because the best collective decisions are the product of disagreement and contest, not consensus or compromise.
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Lower oil prices won't, by themselves, topple the mullahs in Iran. But it's significant that, historically, when oil prices have been low, Iranian reformers have been ascendant and radicals relatively subdued, and vice versa when prices have been high.
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Technological innovation has dramatically lowered the cost of computing, making it possible for large numbers of consumers to own powerful new technologies at reasonably low prices.
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Pop music thrives on repetition. You know a song's a hit when you've heard it so often that you'll be happy never to hear it again.
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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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The challenge for capitalism is that the things that breed trust also breed the environment for fraud.
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In terms of productivity - that is, how much a worker produces in an hour - there's little difference between the U.S., France, and Germany. But since more people work in America, and since they work so many more hours, Americans create more wealth.
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Of course, presidents are always blamed or rewarded for the state of the economy.
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