The Wisdom of Crowds
IN THIS SUMMARY
The idea that large groups of people are smarter than an elite few may be a surprise to many involved in decision making and problem solving, and can be a concept that is difficult to accept. The theory that groups are remarkably intelligent and often smarter than the smartest people in them, demonstrates the significant impact on how businesses operate, how knowledge is increased, how economies are structured, and how people live their daily lives.
The Wisdom of Crowds explains the principle of group think, and the concept that the masses are better problem solvers, forecasters, and decision makers than any one individual.