Awhile back I wrote about the concept of wisdom of crowds. And I referenced a great explanation of the dangers of its extremes. After a bit of thought, I’ve determined that “wisdom of crowds” needs a new name. Or rather, we need to do a better job communicating its uniqueness from other types of group thought. “Mob rule” is a bad thing, and it sounds bad too. “Group think” is also bad, but it doesn’t sound as bad as “mob rule.” Mob rule isn’t wisdom, group think isn’t wisdom, and, quite frankly, we need to realize there is objective wisdom that “the crowd” misses.
Let’s not kid ourselves. A lot of us make unwise decisions every day. Just because there are more of us doesn’t mean we’re suddenly wise.