Secondary Effects
Various secondary effects occurred, notably toilet paper panics in Japan and the United States; these were unfounded panics which became self-fulfilling prophesies, and are classic examples of the Thomas theorem. Price rises and unfounded rumors of a toilet paper shortage—based on oil being used in paper manufacturing—caused a panic and hoarding of toilet paper in late October and early November in Osaka and Kobe, among other cities. In the United States, Johnny Carson inadvertently caused a three-week panic when, on December 19, 1973, he read a news item regarding the U.S. government falling behind on bids for toilet paper and quipping that the nation faced a toilet paper shortage on The Tonight Show.
Read more about this topic: 1973 Oil Crisis
Famous quotes containing the words secondary and/or effects:
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“Consider what effects which might conceivably have practical bearings we conceive the object of our conception to have. Then our conception of these effects is the whole of our conception of the object.”
—Charles Sanders Peirce (1839–1914)