Barking_Mad
Non sibi sed omnibus
'The Wisdom of Crowds' - James Surowiecki
Ill quote the blurb as Ive got cold and cant think to type!
I'd really recommend the book. Excellent read and full of some fresh thought provoking ideas about how groups of people should (and should not) organise themselves in order to be effective. Id have thought Anarchists might find it an interesting read.
Link to Amazon page
Ill quote the blurb as Ive got cold and cant think to type!
Smart people often believe that the opinion of the crowd is always inferior to the opinion of the individual specialist. Philosophical giants such as Nietzsche thought that "Madness is the exception in individuals but the rule in groups". Henry David Thoreau lamented: "The mass never comes up to the standard of its best member but on the contrary degrades itself to a level with the lowest member." The motto of the great and the ordinary seems to be: Bet on the expert because crowds are generally stupid and often dangerous. Business columnist James Surowiecki’s new book The Wisdom of Crowds explains exactly why the conventional wisdom is wrong. The fact is that, under the right circumstances, groups are remarkably intelligent, and are often smarter than the smartest people in them. Groups don’t even need to be dominated by exceptionally intelligent people in order to be smart. Even if most of the people within a group are not especially well-informed or rational, it can still reach a collectively wise decision. Why? Because, as it turns out, if you ask a large enough group of diverse, independent people to make a prediction or estimate a probability, and then average those estimates, the errors each of them makes in coming up with an answer will cancel themselves out.
I'd really recommend the book. Excellent read and full of some fresh thought provoking ideas about how groups of people should (and should not) organise themselves in order to be effective. Id have thought Anarchists might find it an interesting read.
Link to Amazon page