Disasters redistribute money from taxpayers to construction workers, from insurance companies to homeowners, and even from those who once lived in the destroyed city to those who replace them. It's remarkable that this redistribution can happen so smoothly and quickly, with devastated regions reinventing themselves in a matter of months.
James SurowieckiI tend to delay writing by doing more research - it's really the act of writing the piece that I have the hardest time with.
James SurowieckiIn 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.
James SurowieckiThe financial crisis of 2008 was not caused by investment banks betting against the housing market in 2007. It was caused by the fact that too few investors - including all of the big investment banks - bet too heavily on the housing market in the years before 2007.
James SurowieckiTechnology is supposed to make our lives easier, allowing us to do things more quickly and efficiently. But too often it seems to make things harder, leaving us with fifty-button remote controls, digital cameras with hundreds of mysterious features and book-length manuals, and cars with dashboard systems worthy of the space shuttle.
James SurowieckiThe autocracies of the Arab world have been as economically destructive as they've been politically repressive.
James SurowieckiSelf-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.
James Surowiecki