There Is Wisdom To Be Found In The Masses, And This Terrifies Our Rulers

Nearly two centuries ago, Charles Mackay wrote a book called The Madness Of Crowds, which described the way crowds are capable of falling prey to manias, fads, and the leadership of demagogues who persuade them to commit to the most absurd ideas.

It is undeniable the depths of folly to which unthinking mobs of people can fall. The Salem Witch Trials, The Red Scares, and every major market bubble stand as testaments to groups of people surrendering their individual common sense to the momentum of a mob that seems to move in an unthinking fashion. The fact that Mackay’s book has been in publication for so long shows how aware we are of this flaw.

A book that is less well known is James Surowiecki’s The Wisdom Of Crowds, published in 2004. This book could not have been written much earlier in history because the world was not ready to latch onto the idea he puts forth. To quote from the dustcover, “James Surowiecki explores a deceptively simple idea: Large groups of people are smarter than an elite few, no matter how brilliant — better at solving problems, fostering innovation, coming to wise decisions, even predicting the future.”

This is a rather radical notion to even conceive of, that the masses are better at guiding society than an elite few. The history of civilizations is one of great people guiding their nations through important moments. It was not until Howard Zinn published A People’s History Of The United States that someone was…