Well, I might be wrong. The likelihood that I am very wrong is not great. But more important, our economy is driven by advertisers and media who want our attention, and the two sure-fire ways to get our attention are to titillate us or to scare us. And Y2K is a perfect opportunity to scare people. Franklin Roosevelt had the same fear in 1933, and we should listen to him.
Fear can debilitate, and fear, most of all, can make people irrational.
The supply of toilet paper was exactly what it should have been. But people were afraid there might be a shortage, so they bought a few more rolls than they needed. Their friends saw them do that and did likewise. In no time at all there was a shortage. Stockpiling is antisocial.