Behavioral economists have shown that a sizable percentage of people are willing to pay real money to punish people who are taking from a common pot but not contributing to it. Just to insure that shirkers get what they deserve, we are prepared to make ourselves poorer. James Surowiecki behavioralcommoncontribute share on social
A consumer-finance agency is a good thing, but it would do well to teach consumers a simple lesson: if you don't understand the deal you're making, don't make it. James Surowiecki agencyconsumerdeal Change image and share on social
What the investment community does like is short-term measures designed to boost share prices. James Surowiecki boostcommunitydesign Change image and share on social
The problem with venality in business is that getting outraged about it makes it easy to miss the systemic problems that venality often disguises. James Surowiecki businessdisguiseeasy Change image and share on social
From a social point of view, it's beneficial that homeownership encourages commitment to a given town or city. But, from an economic point of view, it's good for people to be able to leave places where there's less work and move to places where there's more. James Surowiecki beneficialcitycommitment share on social
In a world where companies increasingly know about their business in real time, it makes no sense that public reporting mostly follows the old quarterly schedule. Companies sit on vital information until reporting day, at which point the market goes crazy. James Surowiecki businesscompanycrazy share on social
The Internet has become a remarkable fount of economic and social innovation largely because it's been an archetypal level playing field, on which even sites with little or no money behind them - blogs, say, or Wikipedia - can become influential. James Surowiecki archetypalblogeconomic share on social
Until the nineteen-seventies, Western countries paid little attention to corruption overseas, and bribery was seen as an unpleasant but necessary part of doing business there. In some European countries, businesses were even allowed to deduct bribes as an expense. James Surowiecki allowattentionbribe share on social
Political risk is hard to manage because so much comes down to the personal choices of policymakers, whether prime ministers or heads of central banks. James Surowiecki bankcentralchoice Change image and share on social
Unlike most government programs, Social Security and, in part, Medicare are funded by payroll taxes dedicated specifically to them. Some of the tax revenue pays for current benefits; anything that's left over goes into trust funds for the future. The programs were designed this way for political reasons. James Surowiecki benefitcurrentdedicate share on social