I started in business journalism from the outside, so when I started writing about markets and business, I was struck by the fact that markets seemed to work well even though people are often irrational, lack good information and are not perfect in the way they think about decisions.
James SurowieckiIf private-equity firms are as good at remaking companies as they claim, they don't need tax loopholes to make money.
James SurowieckiArt collecting has traditionally been the domain of wealthy individuals in search of rewards beyond the purely financial.
James SurowieckiBehavioral 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