Group items tagged

Why do groups of humans sometimes exhibit collective wisdom and at other times madness? Can we reduce the risk of maladaptive herding and at the same time increase the possibility of collective wisdom?

Understanding this apparent conflict has been a longstanding problem in social science. The key to this puzzle could be the way that individuals use information from others versus information gained from their own trial-and-error problem solving. If people simply copy others without reference to their own experience, any idea – even a bad one – can spread. So how can social learning improve our decision making? Striking the right balance between copying others and relying on personal experience is key. Yet we still need to know exactly what the right balance is.

Our results suggest that we should be more aware of the risk of maladaptive herding when these conditions – large group size and a difficult problem – prevail. We should take account of not just the most popular opinion, but also other minority opinions. In thinking this way, the crowd can avoid maladaptive herding behaviour. This research could inform how collective intelligence is applied to real-world situations, including online shopping and prediction markets.

The crucial problem isn’t creating new jobs. The crucial problem is creating new jobs that humans perform better than algorithms. Consequently, by 2050 a new class of people might emerge – the useless class. People who are not just unemployed, but unemployable.

The same technology that renders humans useless might also make it feasible to feed and support the unemployable masses through some scheme of universal basic income. The real problem will then be to keep the masses occupied and content. People must engage in purposeful activities, or they go crazy. So what will the useless class do all day?

In any case, the end of work will not necessarily mean the end of meaning, because meaning is generated by imagining rather than by working. Work is essential for meaning only according to some ideologies and lifestyles. Eighteenth-century English country squires, present-day ultra-orthodox Jews, and children in all cultures and eras have found a lot of interest and meaning in life even without working. People in 2050 will probably be able to play deeper games and to construct more complex virtual worlds than in any previous time in history.