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The challenge for capitalism is that the things that breed trust also breed the environment for fraud.
James Surowiecki
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James Surowiecki
Age: 57
Born: 1967
Born: April 30
Journalist
Writer
Meriden
Connecticut
James Michael Surowiecki
Things
Breed
Fraud
Capitalism
Challenge
Trust
Environment
Challenges
Also
More quotes by James Surowiecki
Downsizing itself is an inevitable part of any creatively destructive economy.
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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.
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The business of America shouldn't be subsidizing business.
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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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Wall Street has come a long way from the insider-dominated world that was blown apart by the Great Depression.
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The financial crisis of 2008 was not caused by investment banks betting against the housing market in 2007. It was caused by the fact that too few investors - including all of the big investment banks - bet too heavily on the housing market in the years before 2007.
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In part because individual judgement is not accurate enough or consistent enough, cognitive diversity is essential to good decision making.
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Developing countries often have hypertrophied bureaucracies, requiring businesses to deal with enormous amounts of red tape.
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The fundamental problem with banks is what it's always been: they're in the business of banking, and banking, whether plain vanilla or incredibly sophisticated, is inherently risky.
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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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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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Real politics is messy and morally ambiguous and doesn't make for a compelling thriller.
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In the days when corporate downsizing was all the rage, Wall Street took a lot of flak for judging companies too harshly and setting the bar for corporate performance so high that executives felt their only option was to slash payrolls.
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I tend to delay writing by doing more research - it's really the act of writing the piece that I have the hardest time with.
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The U.S. is excellent at importing cheap products from the rest of the world. Let's try importing some human capital instead.
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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 sets up teams and then uses them for purely advisory purposes, it loses the true advantage that a team has: namely, collective wisdom.
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Campaigns fail if they waste resources courting voters who are unpersuadable or already persuaded. Their most urgent task is to find and persuade the few voters who are genuinely undecided and the larger number who are favorably disposed but need a push to actually vote.
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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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When Americans are asked to rank professions in terms of honesty and ethics, insurance agents routinely end up near the bottom of the list - somewhere between politicians and car salesmen. Generally, insurers are seen as clever hucksters who prey on insecurity and ignorance to sell people what they don't need at prices they shouldn't have to pay.
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You might think of consumption as a fairly passive activity, but buying new products and services is actually pretty risky, at least if you value your time and money.
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