In the world of minor lunacy the behaviour of both the utterly rational and the totally insane seems equally odd

In the world of minor lunacy the behaviour of both the utterly rational and the totally insane seems equally odd

John Kenneth Galbraith was a renowned economist and public intellectual known for his sharp wit and keen observations on society. In his work, he often explored the concept of minor lunacy, or the irrational behaviors that can be found in everyday life. Galbraith believed that in the world of minor lunacy, the behavior of both the utterly rational and the totally insane can seem equally odd.

One of Galbraith's most famous works, "The Affluent Society," delves into the idea that in a society where material wealth is abundant, people often prioritize the pursuit of more wealth over the well-being of society as a whole. This irrational behavior, according to Galbraith, is a form of minor lunacy that can be seen in the actions of both the wealthy elite and the average citizen. The wealthy may hoard their wealth and ignore the needs of the less fortunate, while the average citizen may prioritize consumerism over more meaningful pursuits.

Galbraith also explored the concept of the "conventional wisdom," or the prevailing beliefs and attitudes that shape society. He argued that the conventional wisdom often leads to irrational behaviors and decisions, as people conform to societal norms without questioning their validity. This conformity, according to Galbraith, can lead to a form of collective insanity where rationality is abandoned in favor of following the crowd.