Share
×
Inspirational Quotes
Authors
Professions
Topics
Tags
Quote
But, if recent history has taught us anything, it’s that self-regulation doesn’t work in finance, and that worries about reputation are a weak deterrent to corporate malfeasance.
James Surowiecki
Share
Change background
T
T
T
Change font
Original
TAGS & TOPICS
James Surowiecki
Age: 57
Born: 1967
Born: April 30
Journalist
Writer
Meriden
Connecticut
James Michael Surowiecki
Taught
Deterrent
Worry
Worries
History
Regulation
Doesn
Recent
Anything
Finance
Self
Corporate
Work
Reputation
Weak
Malfeasance
More quotes by 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.
James Surowiecki
The important thing about groupthink is that it works not so much by censoring dissent as by making dissent seem somehow improbable.
James Surowiecki
What corporations fear is the phenomenon now known, rather inelegantly, as 'commoditization.' What the term means is simply the conversion of the market for a given product into a commodity market, which is characterized by declining prices and profit margins, increasing competition, and lowered barriers to entry.
James Surowiecki
There does seem to be some evidence that as people get older, they procrastinate less, perhaps because they feel the pressure of time more.
James Surowiecki
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.
James Surowiecki
The smartest groups, then, are made up of people with diverse perspectives who are able to stay independent of each other. Independence doesn't imply rationality or impartiality, though. You can be biased and irrational, but as long as you're independent, you won't make the group any dumber.
James Surowiecki
In confusing stock options with ownership, corporations confuse trappings with substance.
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
The profit motive, indecorous though it may seem, may represent the best chance the poor have to reap some of globalization's benefits.
James Surowiecki
Under the right circumstances, groups are remarkably smart - smarter even sometimes than the smartest people in them.
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.
James Surowiecki
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.
James Surowiecki
In part because individual judgement is not accurate enough or consistent enough, cognitive diversity is essential to good decision making.
James Surowiecki
If someone really wants my company's business, why shouldn't he be able to do everything he can - including paying me off - to get that business? Because bribery encourages people to make decisions based on the wrong criteria, which means in the business world that it distorts the efficient allocation of resources.
James Surowiecki
Breaking tasks down into smaller sub-tasks can be very useful.
James Surowiecki
Markets work best when there's lots of information available and a historical track record to go on they excel at predicting things like horse races, election outcomes, and box-office results. But they're bad at predicting things like who will be the next Supreme Court nominee, as that depends on the whim of the president.
James Surowiecki
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.
James Surowiecki
Real politics is messy and morally ambiguous and doesn't make for a compelling thriller.
James Surowiecki
If companies tell us more, insider trading will be worth less.
James Surowiecki
Sometimes even a smart crowd will make a mistake.
James Surowiecki