Source: Ludwig von Mises Institute
by Marcos Giansante
“Periods of crisis reveal something unsettling about human behavior. Faced with uncertainty, individuals and institutions alike tend to accept measures that would otherwise be unthinkable. Restrictions on movement, suspension of rights, and centralized decision-making often emerge not gradually, but almost effortlessly, as if they were the natural response to danger. This pattern is frequently interpreted as a political or institutional failure. But such an explanation remains incomplete. Crises do not merely alter policies, they alter the very structure of human action.” (04/10/26)
https://mises.org/power-market/fear-time-preference-and-distortion-human-action