Joshua Porter writes: "Listening to James Surowiecki's talk on the Wisdom of Crowds (mp3) at the SXSW Conference ..., I was struck at how pervasive this idea has become in such a short period of time. And the reason, of course, is the success of Google’s Pagerank algorithm, which harnesses the wisdom of crowds to model the way we value content. ¶ If there is one idea that encapsulates what Web 2.0 is about, one idea that wasn’t a factor before but is a factor now, it’s the idea of leveraging the network to uncover the Wisdom of Crowds. ..." Link: bokardo.
Also see Kathy Sierra's post, One of us is smarter than all of us, in which she notes: "... The wisdom of crowds comes not from the consensus decision of the
group, but from the aggregation of the ideas/thoughts/decisions of each
individual in the group. ..." Link: Creating Passionate Users.
James Surowiecki's bio in Wikipedia has links to two audio interviews with him on this topic. --Dennis