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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
Amount
Bureaucracy
Deals
Businesses
Often
Tape
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Developing
Red
Enormous
Bureaucracies
Countries
Requiring
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Amounts
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A general principle of good taxation is that similar jobs, and similar kinds of compensation, should be taxed the same way: otherwise, the government is effectively subsidizing some jobs over others.
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In order to work well, markets need a basic level of trust.
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Now, modern economies have a very effective mechanism for deciding if salaries are really too high: it's called the free market. That's how most people's salaries are set, after all, including those of major-league baseball players and European soccer players.
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Tough times have always lent themselves to nativist sentiments and closed-door policies. But in the case of highly skilled immigrants these policies are a recipe for stagnation.
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Real politics is messy and morally ambiguous and doesn't make for a compelling thriller.
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The Internet has become a remarkable fount of economic and social innovation largely because it's been an archetypal level playing field, on which even sites with little or no money behind them - blogs, say, or Wikipedia - can become influential.
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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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The challenge for capitalism is that the things that breed trust also breed the environment for fraud.
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Breaking tasks down into smaller sub-tasks can be very useful.
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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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On the simplest level, telecommuting makes it harder for people to have the kinds of informal interactions that are crucial to the way knowledge moves through an organization. The role that hallway chat plays in driving new ideas has become a cliche of business writing, but that doesn't make it less true.
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Since the Protestant majority in Northern Ireland wants to remain a part of Great Britain, and since Ireland itself has shown little interest in reunification, the IRA's prospects for success through political channels have always been limited.
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I typically don't adopt the ascetic approach. In part, that's because I do use the Net for research even as I'm writing (to check facts, or so on). But I think it's also because I find the possibility of distraction comforting.
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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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In the business world, bad news is usually good news - for somebody else.
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The ban on sports betting does exactly what Prohibition did. It makes criminals rich.
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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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As technology improves, on-screen avatars look more and more like real people. When they start looking too real, though, we pull away. These almost-humans aren't quite right they look creepy, like zombies.
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Political risk is hard to manage because so much comes down to the personal choices of policymakers, whether prime ministers or heads of central banks.
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