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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
Numbers
Technologies
Technology
Prices
Possible
Technological
Powerful
Consumers
Making
Innovation
Lowered
Lows
Computing
Large
Reasonably
Cost
Dramatically

More quotes by James Surowiecki

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If companies tell us more, insider trading will be worth less.
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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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In practice, downsizing is too often about cutting your work force while keeping your business the same, and doing so not by investments in productivity-enhancing technology, but by making people pull 80-hour weeks and bringing in temps to fill the gap.
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There does seem to be some evidence that as people get older, they procrastinate less, perhaps because they feel the pressure of time more.
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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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In the struggle between capital and labor, more often than not capital has won, because the real source of value for most companies has historically been the hard assets that they owned and controlled.
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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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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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I think people don't understand compound interest because typically no one ever explains it to them and the level of financial literacy in the US is very low.
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Capitalism, after all, is no fun when real failure becomes a possibility.
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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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In confusing stock options with ownership, corporations confuse trappings with substance.
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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.
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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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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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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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In order to work well, markets need a basic level of trust.
James Surowiecki
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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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In part because individual judgement is not accurate enough or consistent enough, cognitive diversity is essential to good decision making.
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If army ants are wandering around and they get lost, they start to follow a simple rule:Just do what the ant in front of you does. The ants eventually end up in a circle. There's this famous example of one that was 1,200 feet long and lasted for two days the ants just kept marching around and around in a circle until they died.
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