Linux is a complex example of the wisdom of crowds. It's a good example in the sense that it shows you can set people to work in a decentralized way - that is, without anyone really directing their efforts in a particular direction - and still trust that they're going to come up with good answers.
James SurowieckiIf you work for Google or Apple, stock options give you a chance to share in the increasing value of the company. In the N.F.L., nothing like this happens; the players, though rich, are just working stiffs like the rest of us.
James SurowieckiAll things being equal, letting people make decisions for themselves will produce smarter outcomes, collectively, than relying on government planners.
James SurowieckiDefense contractors are able to reap tremendous profits while rarely confronting the risks for which those profits are supposed to be the reward.
James SurowieckiOne key to successful group decisions is getting people to pay much less attention to what everyone else is saying.
James SurowieckiIntellectual-property rules are clearly necessary to spur innovation: if every invention could be stolen, or every new drug immediately copied, few people would invest in innovation. But too much protection can strangle competition and can limit what economists call 'incremental innovation' - innovations that build, in some way, on others.
James SurowieckiThere are lots of people who believe there may be at least some genetic component to procrastination, and even if there isn't, it seems to be the case that procrastination habits are often set relatively early in life (that's certainly the case with me). But I also think that there's lots of evidence that external tools can help quite a bit in getting people to stop procrastinating.
James Surowiecki