The Wisdom of Crowds (James Surowiecki)

"The Wisdom of Crowds" by James Surowiecki explains that large groups of people can often make better decisions collectively than individuals or small expert groups. When diverse, independent, and decentralized individuals share their knowledge and opinions, their combined judgments tend to be more accurate and reliable. This principle applies to various scenarios, from guessing the number of candies in a jar to complex financial forecasts. The key is that group decision-making harnesses different perspectives and dispersed information, leading to more sound, balanced outcomes than relying on a single expert or a homogeneous group.