A certain sacrifice of independence in thought and action

"Investment crowds are like other social groups because they make it easier for their members to survive and prosper in society. The human species stands out among earth’s creatures in its instinctive drive and ability to form and cooperate in large social groups. Indeed, it cannot be far from the truth to assert that this cooperative instinct is responsible for the rapid development of human society over its relatively short recorded history. Our motto could be that social groups make life easier and safer. Everyone knows this to be true. Consequently people are willing to join social groups and are even willing to suffer inconvenience or other costs to be members. Among these costs are a certain sacrifice of independence in thought and action. Every member of a social group cedes to the group some part of his autonomy."

A certain sacrifice of independence in thought and action