I read this on Shuzak.com: “The Nobel Prize winning free-market economist, Milton Friedman, believed that when left alone, people will intelligently act in their own best interest, and that the market will coordinate their actions to produce outcomes beneficial for all. In other words, the wisdom of crowds depends upon the rational wisdom of the individual.

“Friedman was a genius, but he never came across MySpace or he would have retracted his belief on consumer rationality.

“MySpace and its cousins are bacteria feeding off the irrationality of the wisdom of the crowds. MySpace has taught us that even though the customer is not always right, it is, nonetheless, detrimental to prove them otherwise.”

Now there’s someone with an opinion! Read the rest at http://www.m4th.com/Articles/Article.php?Article-Title=Anatomy-of-a-Successful-Social-Network

Tags: Bebo, Facebook, Friedman, MySpace, Shuzac, social networking