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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.

James Surowiecki

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James Surowiecki
Age: 57
Born: 1967
Born: April 30
Journalist
Writer
Meriden
Connecticut
James Michael Surowiecki
Possible
Technological
Powerful
Consumers
Making
Innovation
Lowered
Lows
Computing
Large
Reasonably
Cost
Dramatically
Numbers
Technologies
Technology
Prices

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Downsizing itself is an inevitable part of any creatively destructive economy.
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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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The business of America shouldn't be subsidizing business.
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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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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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No decision-making system is going to guarantee corporate success. The strategic decisions that corporations have to make are of mind-numbing complexity. But we know that the more power you give a single individual in the face of complexity and uncertainty, the more likely it is that bad decisions will get made.
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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 order to work well, markets need a basic level of trust.
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The paradox of Steve Jobs's career is that he had no interest in listening to consumers - he was famously dismissive of market research - yet nonetheless had an amazing sense of what consumers actually wanted.
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Being out of a job can erode people's confidence and their sense of possibility and employers, often unfairly, tend to take long-term unemployment as a signal that something is wrong.
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To be sure, if you watch CNBC all day long you'll pick up some interesting news about particular companies and the economy as a whole. Unfortunately, to get to the useful information, you have to wade through reams of useless stuff, with little guidance on how to distinguish between the two.
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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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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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Businesses that have gone through an episode of hyperinflation become understandably alert to the threat of it: at the first hint of inflation, they're likely to increase prices, since they've learned that if they don't, and inflation hits, their businesses will be wrecked.
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Real politics is messy and morally ambiguous and doesn't make for a compelling thriller.
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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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Of course, looking tough on inflation is part of any central banker's job description: if investors believe that inflation is going to get out of control, you end up with higher interest rates and capital flight, and a vicious circle quickly ensues.
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Sometimes even a smart crowd will make a mistake.
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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.
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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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