During periods of extreme fear or greed, you don't have the proper balance between those two to generate market efficiency and you get extremes in behavior. ↗
Just after World War II, this country led the world in science by every way you could measure it, yet the number of scientists was a tiny proportion of what it is now. ↗
It is part of the general pattern of misguided policy that our country is now geared to an arms economy which was bred in an artificially induced psychosis of war hysteria and nurtured upon an incessant propaganda of fear. ↗