Monday, May 30, 2011

The Wisdom of the Crowd

I've always questioned the value of a democratic system. While from the liberal egalitarian perspective of allowing each man to have a say in the affairs of his community, the one-man-one-vote ideal seems only right. However, from the perspective of making wise decisions on policies involving national security, welfare, healthcare, taxation, the economy and national infrastructure, it would appear that such decisions should be left to the top two percent of intelligent society to make.

Why should an uneducated man with a low IQ and poor judgement be given the opportunity to choose who will hold the button to a nuclear detonator? In a sense, it appears like the democratic system could lead to disastrous outcomes. Why is it so virtuous? What is the logic behind it?

The following entertaining video demonstrates the wisdom of the crowd, how sheer numbers create a self-correcting mechanism with utmost precision and ingenuity unlike anything the wisest of individuals can conceive of singlehandedly. Enjoy!

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