Our characterization of collective folly is that sound judgment is not feasible when there is forced or false agreement in groups. We also show how group polarization sets the stage for risky and even dangerous decisions to be made. How we navigate between false agreement and polarization is the kind of mastery that collective wisdom represents.
You know, one day you're being briefed on world affairs and asked to make decisions, and the next, you're in Crawford, Texas ... and the biggest decision is when do you go mountain bike riding.
Health care costs are on the rise because the consumers are not involved in the decision-making process. Most health care costs are covered by third parties. And therefore, the actual user of health care is not the purchaser of health care. And there's no market forces involved with health care.
There is no question that an important service is provided to investors by investment companies, investment advisors, trust departments, etc. This service revolves around the attainment of adequate diversification, the preservation of a long-term outlook, the ease of handling investment decisions and mechanics, and most importantly, the avoidance of the patently inferior investment techniques which seem to entice some individuals.
I wanted to come to Washington, D.C. and help be a transformative President. And I think history, when they look back, will say this is a fellow who knew how to make decisions, and made some tough ones, stood by them, wasn't driven by the latest opinion poll, but was driven by some core principles from which he would not deviate.
The only thing that really matters is that there be an action of goodness, love and intelligence in living. Is goodness individual or collective, is love personal or impersonal, is intelligence yours, mine or somebody else? If it is yours or mine then it is not intelligence, or love, or goodness. If goodness is an affair of the individual or of the collective, according to one's particular preference or decision, then it is no longer goodness.