Quote from Charles MacKay, "Extraordinary Popular Delusions & the Madness of Crowds, 1852" :
Each age has its peculiar folly, some scheme, project or phantasy into which it is plunged, spurred on either by the love of gain, the necessity of excitement, or the mere force of imitation...Money has often been a cause of the delusion of multitudes. Sober nations have all at once become desperate gamblers and risked almost their existence upon the turn of a piece of paper...Men, it has been well said think in herds; it will be seen that they go mad in herds. while they only recover their senses slowly and one by one.
Men who is rational when he is alone tend to be irrational when making a decision. Rather than making a sound and rational decision, the decision he makes is based on popularity -- follow the decision chosen by majority. After all, when something bad occurs, he could not be blamed because the decision made is based on majority decision -- being he is a country leader, fund manager...etc. How many people have a courage to go to reverse direction of the herd? With the risk of being tag as "strange", "not friendly"...etc?
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If you know someone dig a hole and it’s in the wrong place, digging it deeper isn’t going to help.
Leader should spend more time thinking and less time polishing the firewood.
Good leaders produce more leaders, not more followers.
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