1) We are hard-wired to think short-term, not long-term
2) We also seem to be hard-wired to confirm to the herd mentality
We have a tendency to "anchor".
Anchoring is “our tendency to grab hold of irrelevant and often subliminal inputs in the face of uncertainty.”
Go to this zerohedge.com post and try the experiment yourself.
We usually anchor to the recent past.