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RE: Wisdom and Group Think in 'Wisdom of the Crowd'
There's something called self-loafing that's very similar. One explanation is that when people are in a group they're less likely to work as hard as they might alone... But the aspect I'm talking about is that if you put one really smart person in a group of say 5 "dummies" rather than bring the overall level of the group up, the smart person is brought down to the level of the group (or less).
Indeed, working towards the lowest common denominator ;) Socialism and communism does that well :/
The collective mediocrity! I think Communism/Socialism lowers the bar even further killing all innovation- an ideology based on parasitism!