Political risk is hard to manage because so much comes down to the personal choices of policymakers, whether prime ministers or heads of central banks.
James SurowieckiThe important thing about groupthink is that it works not so much by censoring dissent as by making dissent seem somehow improbable.
James SurowieckiI 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 SurowieckiUnfortunately, there is something of a flaw in this idealized picture of the way the scientific community discovers truth. And the flaw is that most scientific work never gets noticed. Study after study has shown that most scientific papers are read by almost no one, while a small number of papers are read by many people.
James Surowiecki