Why free economies can outdo planned economies …

 James Surowiecki, in The Wisdom of Crowds, talked about an experiment Francis Galton, the father of modern statistics, ran at a 1906 county fair. Eight hundred people entered a competition to guess the weight of an ox that proved to weigh 1,198 pounds. While the winner was close enough, he was a long way away from the actual weight. However, when Galton gathered all 800 guesses and averaged them, he discovered that the average of 800 best guesses was 1,197 pounds.
 
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