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On Wall Street, fraudulent schemes tend to thrive during economic booms, and to blow up when times turn tough.
James Surowiecki
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James Surowiecki
Age: 57
Born: 1967
Born: April 30
Journalist
Writer
Meriden
Connecticut
James Michael Surowiecki
Turns
Blow
Times
Tend
Street
Tough
Streets
Booms
Wall
Fraudulent
Turn
Schemes
Economic
Thrive
More quotes by James Surowiecki
The truth is that the United States doesn't need, and shouldn't have, a debt ceiling. Every other democratic country, with the exception of Denmark, does fine without one.
James Surowiecki
Critics of consumer capitalism like to think that consumers are manipulated and controlled by those who seek to sell them things, but for the most part it's the other way around: companies must make what consumers want and deliver it at the lowest possible price.
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Workers who come to the U.S. see their wages and their standard of living boosted sharply simply by crossing the border. That's a good thing, and one of the best arguments for immigration reform, even if you'll rarely hear a politician make it.
James Surowiecki
Downsizing itself is an inevitable part of any creatively destructive economy.
James Surowiecki
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.
James Surowiecki
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.
James Surowiecki
The ban on sports betting does exactly what Prohibition did. It makes criminals rich.
James Surowiecki
Corporate welfare isn't necessarily a bad thing.
James Surowiecki
All things being equal, letting people make decisions for themselves will produce smarter outcomes, collectively, than relying on government planners.
James Surowiecki
The history of the Internet is, in part, a series of opportunities missed.
James Surowiecki
One of the problems that exacerbates procrastination is the feeling that you have lots of different things to do and no clear sense of which matter more, when they should be done, etc.
James Surowiecki
Life insurance became popular only when insurance companies stopped emphasizing it as a good investment and sold it instead as a symbolic commitment by fathers to the future well-being of their families.
James Surowiecki
The profit motive, indecorous though it may seem, may represent the best chance the poor have to reap some of globalization's benefits.
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Of course, plenty of people don't think that guaranteeing affordable health insurance is a core responsibility of government.
James Surowiecki
In the business world, bad news is usually good news - for somebody else.
James Surowiecki
If being the biggest company was a guarantee of success, we'd all be using IBM computers and driving GM cars.
James Surowiecki
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.
James Surowiecki
Punk rock has never really had much patience with musical virtuosity. Actually, it'd be more accurate to say that for most of its history, punk has been actively hostile to virtuosity.
James Surowiecki
Behavioral economists have shown that a sizable percentage of people are willing to pay real money to punish people who are taking from a common pot but not contributing to it. Just to insure that shirkers get what they deserve, we are prepared to make ourselves poorer.
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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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