The Wisdom Of Crowds

I finished up the first part of the book. The end of the first part of the book dealt with coordination and cooperation problems. The coordination problems seem easier to solve since they are mostly solved naturally. Whether by established social norms or a self-invented technique, it seems we instinctively come up with solutions to coordination problems. On the other hand, cooperation problems seem to require much more moral and logical consciousness. Although cooperation is seemingly the obvious path to best results, it isn't the, as the book says, (economically) rational thing to do. It's no wonder why it takes so many years for innovations and inventions to come about in society. Things we take for granted and feel are necessities to life maybe could have been around years ago if some people were willing to collaborate and cooperate with one another. Things like racism could very well have stunted our societies growth over the years.

TOTAL READING TIME: 28 hr.

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