Wednesday, May 30, 2007

Community of the Unsophisticated

"Regardless, what's really important about the work of Smith [studies of experimental economics] and his peers is that it demonstrates that people who can be, as he calls them, 'naive, unsophisticated agents,' can coordinate themselves to achieve complex, mutually beneficial ends even if they're not really sure, at the start, what those ends are or what it will take to accomplish them. As individuals, they don't know where they're going. But as part of a market, they're suddenly able to get there, and fast." - James Surowiecki, The Wisdom of Crowds
If this is true, we aren't giving enough credit to our teams, small groups and communities.

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