John Kenneth Galbraith
Financial disasters are rarely unpredictable accidents, but rather the inevitable result of reckless optimism and the collective refusal to acknowledge reality.
The Great Crash was triggered by a speculative bubble fueled by easy credit and the widespread belief that the market would rise forever.
Galbraith argues that the "conventional wisdom" blinds society to economic risks because people prefer comfortable illusions over complex truths.
Large corporations and their "technostructure" actively create consumer demand through advertising rather than simply responding to genuine human needs.