Tag Archives: James Surowiecki

The Wisdom of Crowds

The book title implies that crowds are really smart.  Well, sometimes we are!  The various chapters detail when a crowd can be smarter than the individual and how this collective intelligence functions in different situations.  I found the cooperation discussion to be fascinating.  Although it is common sense that cooperation is based on trust, the importance of trust to business and the history of capitalism are not obvious.  The discussion is very apropos to the recent corporate scandals at Enron, etc.  The writing and content are very good with one exception.  Unfortunately, the concepts in this book are new.  Thus, the book is mostly informative and doesn’t offer solutions to the problems.