Walter J. Blum

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"Famous Last Words"

MARCH 01, 1958 by WALTER J. BLUM

The following article is an experimental exception to Foundation policy against the use of satire for educational purposes. "I wrote it for my own entertainment," says the author. But perhaps it may encourage business managers and stockholders to re-examine some of the modern innovations of corporate practice.

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December 2014

Unfortunately, educating people about phenomena that are counterintuitive, not-so-easy to remember, and suggest our individual lack of human control (for starters) can seem like an uphill battle in the war of ideas. So we sally forth into a kind of wilderness, an economic fairyland. We are myth busters in a world where people crave myths more than reality. Why do they so readily embrace untruth? Primarily because the immediate costs of doing so are so low and the psychic benefits are so high.
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