Boom psychology


in Canada, Economics, Psychology

Perhaps every boom is expected to last forever. Every boom contains within it some skewed logic in which the impossible growth and rapidly amassed wealth undergo a transition from fantastically fluid to some simulacrum of a solid state. The careening boom logic becomes the norm. Luck becomes a strain of genius, and opportunism starts to resemble a chess master’s grand strategy. The boom was built on stuff as solid and true as glass and steel, crafted from the technological brilliance and entrepreneurial daring of a generation of the smartest engineers the nation has ever known, its credibility renewed daily at a rate of 2.4 million barrels. With such lofty heights near enough in the Patch’s collective memory, even the deepest troughs can seem like mere hiccups on a journey headed ever upward.

Turner, Chris. The Patch: The People, Pipelines and Politics of the Oil Sands. Simon & Schuster, 2017. p. 107–8

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