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Greg Jones

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Is there actually any wisdom displayed by the crowd? Or is it just the latest pet term to describe quantifiable results from chaos? .

Wisdom of the Crowd? Is the crowd capable of showing wisdom in literal terms or is the end result a chaotic decision that superficially resembles wisdom.

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  • Jun 19 2012: I believe that anyone intending an honest opposition to crowd wisdom should first read the book "The Wisdom of Crowds" by James Surowiecki. In the book he explains that given that certain criteria (diversity, independence, decentralization, and aggregation) are met, the crowd can be more intelligent than any individual member in the crowd or even an expert outside of the crowd.
    • Jun 20 2012: You are right, but Surowiecki takes cover behind his 'criteria'. You know that the modern group of consumers does in no way meet those criteria, and if the criteria are forced on the group, it's called positive/negative discrimination. This is why democracy does not work for extended periods of time.
      Democracy relies on wisdom of the crowd, as it was with the public representatives in Greece. What we have done is transform it into the idea that power lies within the *individual* rather than in the people/group. Democracy is just everyone trying to force his own opinion into society, we are more individualistic than ever.

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