You might think of consumption as a fairly passive activity, but buying new products and services is actually pretty risky, at least if you value your time and money.
Now, modern economies have a very effective mechanism for deciding if salaries are really too high: it's called the free market. That's how most people's salaries are set, after all, including those of major-league baseball players and European soccer players.
Cricket is the greatest game that the wit of man has yet devised.- Sir Pelham Warner
Advertising is selling Twinkies to adults.- Donald R. Vance
The struggle of the male to learn to listen to and respect his own intuitive, inner prompt...- Herb Goldberg
Each generation of the church in each setting has the responsibility of communicating the ...- Francis Schaeffer
Each had defended his own country; the Germans Germany, the Frenchmen France; they had don...- Ernst Toller
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Workers who come to the U.S. see their wages and their standard of living boosted sharply simply by crossing the border. That’s a good thing, and one of the best arguments for immigration reform, even if you’ll rarely hear a politician make it.
When Americans are asked to rank professions in terms of honesty and ethics, insurance agents routinely end up near the bottom of the list – somewhere between politicians and car salesmen. Generally, insurers are seen as clever hucksters who prey on insecurity and ignorance to sell people what they don’t need at prices they shouldn’t have to pay.
What corporations fear is the phenomenon now known, rather inelegantly, as ‘commoditization.’ What the term means is simply the conversion of the market for a given product into a commodity market, which is characterized by declining prices and profit margins, increasing competition, and lowered barriers to entry.
|Birth:||30th April, 1967|
James Michael Surowiecki was born in Meriden, Connecticut, USA. He is an American journalist. He was a staff writer at The New Yorker, where he wrote a regular column on business and finance called "The Financial Page". He studied at Southwestern Educational Society, Choate Rosemary Hall, the University of North Carolina at Chapel Hill, and Yale University. He is married to Slate culture editor Meghan O'Rourke. His writing has appeared in a wide range of publications, including The New York Times, the Wall Street Journal, The Motley Fool, Foreign Affairs, Artforum, Wired, and Slate. Before joining The New Yorker, he wrote “The Bottom Line” column for New York magazine and was a contributing editor at Fortune. He is the author of book, entitled The Wisdom of Crowds.
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