Ekta | wisdomekta

“Diversity and independence are important because the best collective decisions are the product of disagreement and contest, not consensus or compromise.” I finally finished the book “ The Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Business, Economies, Societies and Nations ” by James Surowiecki, but it took me an odd six months to complete it. The reason is that the book is kind of dry, as it is filled with voluminous data, long anecdotes, and, many times, complicated reading, making me feel lost during the read. The book's central thesis presents “Wisdom of Crowds” as a theory that assumes that the knowledge of a crowd results in better decision-making, innovation, and problem-solving than that of an individual. For the theory to work, a crowd needs to be large and diverse, and individuals within the crowd cannot be influenced by others. The author depicts the four essential conditions that make up an intelligent or wise ...