I found this to be a superbly crafted thought piece about economic growth, creativity, and the different ways we harness the energy of crowds. Robert Shiller, along the way, shares a very interesting etymology of “crowd.” Really glad I took the time to read this (follow the link below).
“Ultimately, we need economic institutions that somehow promote the concerted creative actions of a wide swath of the world’s people. They should not be corporatist institutions, dominated by central leaders, but should derive their power from the fluid actions of modern crowds.
Some of those actions will have to be disruptive, because the momentum of organizations can carry them beyond their usefulness. But there must also be enough continuity that people can trust their careers and futures to such organizations. Acknowledging the need to experiment and design new forms of economic organization must not mean abandoning fairness and compassion.”