Monday, January 4, 2021

 

This week's book is The Wisdom of Crowds. Not much to say about it. About 300 pages of arguing that crowds under certain circumstances are wise and can make better decisions that the smartest individuals. I've come across the Matthew principle according to which the rich get richer and the poor get poorer although I have heard of instances where the poor got richer and the rich got poorer, I've learned about group polarization and confirmation bias and some psychological experiments, I've struggled to keep my focus and enjoy the book because I found it outdated and a bore. Opinions differ on the matter. There are those who say geniuses are wiser than crowds. All in all it was an interesting idea to write such a book and maybe it was needed.

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