EmailTwitterFacebookDiggStumbleUponGoogle+

In his first inaugural address, President Franklin Delano Roosevelt declared, “So first of all, let me assert my firm belief that the only thing we have to fear is … fear itself — nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance.”

FDR was wrong. Far worse than nameless, unreasoning, unjustified terror is nameless, unreasoning, unjustified optimism which leads to catastrophic blunders that would not have occurred if potential costs and risks had been properly weighed in advance. The greatest thing we have to fear is … optimism itself.

More… “Our Greatest Enemy: Optimism”

Michael Lind is a contributing writer of The Smart Set, a fellow at New America in Washington, D.C., and author of Land of Promise: An Economic History of the United States.

EmailTwitterFacebookDiggStumbleUponGoogle+