Monday, January 24, 2011
Good Monday morning to you all. Hope you enjoyed your weekend, and are all fired up to get back to work today. On OPOD this week, we will be looking at the Great Depression. Today's picture is from 1939, and it shows the son of Migrant Workers eating on the side of the road. As I mentioned yesterday, I believe that the Great Depression built a type of character that is sorely missing today.
Another thing I find interesting in studying the Great Depression is to go back and look at the Roaring 20's. Wow, those folks were completely caught off guard, and were oblivious to the disaster that was about to hit them. People in the 1920's had no clue how fast it would hit, how bad it would get, and how long it would last. In studying the 20's you really don't see anyone raising the alarm. One of the characteristics that can really be seen in the 20's is the Normalcy Bias. This is a mental state where people assume that everything will be OK, even when the signs are pointing to disaster. If you get a chance, do some research on Normalcy Bias. Lots of interesting articles on the internet. The other interesting and related theme is the theory of Black Swans. Both are interesting topics to help understand how things went wrong so quickly in the 1930's.