“The U.S. is excellent at importing cheap products from the rest of the world. Let's try importing some human capital instead.” WorldTryingHumansProductsExcellent Author:James Surowiecki
“In the business world, bad news is usually good news - for somebody else.” WorldNewsGood NewsBad NewsBusiness WorldGood News And Bad News Author:James Surowiecki
“The autocracies of the Arab world have been as economically destructive as they've been politically repressive.” WorldHas BeensDestructiveArab WorldAutocracy Author:James Surowiecki
“Wall Street has come a long way from the insider-dominated world that was blown apart by the Great Depression.” WorldWayLongStreetsWallLong WayGreat DepressionInsiders Author:James Surowiecki
“The world's central banks and the International Monetary Fund still have vaults full of bullion, even though currencies are no longer backed by gold. Governments hold on to it as a kind of magic symbol, a way of reassuring people that their money is real.” PeopleWorldWayKindStillsRealGovernmentMagicGoldInternationalSymbolsFundCurrencyMonetaryReassuringCentral BanksVaults Author:James Surowiecki
“Flexible supply chains are great for multinationals and consumers. But they erode already thin profit margins in developing-world factories and foster a pell-mell work environment in which getting the order out the door is the only thing that matters.” WorldMatterOrderEnvironmentDoorsProfitChainsDevelopingConsumersFactoriesFlexibleMarginsThings That MatterErodeMultinationalsSupply ChainWork EnvironmentOnly Thing That MattersProfit Margin Author:James Surowiecki
“If someone really wants my company's business, why shouldn't he be able to do everything he can - including paying me off - to get that business? Because bribery encourages people to make decisions based on the wrong criteria, which means in the business world that it distorts the efficient allocation of resources.” PeopleIfsWorldWantMeanAbleDecisionCompanyResourcesIncludingEfficientCriteriaBusiness WorldBriberyAllocation Author:James Surowiecki
“In 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.” KnowsWorldRealCompanyCrazyInformationSchedules Author:James Surowiecki
“This intelligence, or what I'll call "the wisdom of crowds," is at work in the world in many different guises. It's the reason the Internet search engine Google can scan a billion Web pages and find the one page that has the exact piece of information you were looking for. It's the reason it's so hard to make money betting on NFL games, and it helps explain why, for the past fifteen years, a few hundred amateur traders in the middle of Iowa have done a better job of predicting election results than Gallup polls have.” WorldYearsDifferentHardReasonDoneHelpingWisdomJobsPastGamesResultsPiecesMiddleInformationInternetPagesHundredElectionIntelligenceCrowdsBillionsMaking MoneyNflEnginesFifteenGooglePollsBetter JobsGuiseFifteen YearsIowaTradersBettingPredictingSearch EngineWeb PageElection ResultsNfl Games Author:James Surowiecki
