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The business of America shouldn't be subsidizing business.

James Surowiecki

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James Surowiecki
Age: 57
Born: 1967
Born: April 30
Journalist
Writer
Meriden
Connecticut
James Michael Surowiecki
Subsidizing
Shouldn
Business
America

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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.
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The ban on sports betting does exactly what Prohibition did. It makes criminals rich.
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In the business world, bad news is usually good news - for somebody else.
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Linux is a complex example of the wisdom of crowds. It's a good example in the sense that it shows you can set people to work in a decentralized way - that is, without anyone really directing their efforts in a particular direction - and still trust that they're going to come up with good answers.
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The Internet has become a remarkable fount of economic and social innovation largely because it's been an archetypal level playing field, on which even sites with little or no money behind them - blogs, say, or Wikipedia - can become influential.
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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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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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Medical tourism can be considered a kind of import: instead of the product coming to the consumer, as it does with cars or sneakers, the consumer is going to the product.
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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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Developing countries often have hypertrophied bureaucracies, requiring businesses to deal with enormous amounts of red tape.
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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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Moviegoers love the intricacies of a crime all the more when it's for a good cause.
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In a world where companies increasingly know about their business in real time, it makes no sense that public reporting mostly follows the old quarterly schedule. Companies sit on vital information until reporting day, at which point the market goes crazy.
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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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In terms of productivity - that is, how much a worker produces in an hour - there's little difference between the U.S., France, and Germany. But since more people work in America, and since they work so many more hours, Americans create more wealth.
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Capitalism, after all, is no fun when real failure becomes a possibility.
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Self-dealing, essentially, occurs when managers run companies to line their own pockets instead of those of the companies' owners. It's been a perennial problem in American capitalism and became a real dilemma when America moved toward a model in which corporations would be run by professional managers who had only small ownership stakes.
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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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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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If companies tell us more, insider trading will be worth less.
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