Man must act to change his state of affairs.  The herd seems like the most attractive solution.  Action is guided by ideas.  However, action that is carried out by the herd is a different matter.  The herd is guided by ideas shared by all.  Each actor loses his individuality.  Actions that may be accepted by individuals in the herd wouldn’t accept them if they were not in that group.  The herd tends to abolish reason. 

Reason is used to aid you in survival.  What may seem like the most attractive solution will harm you in the long run.  What is needed to survive has been washed away by a shiny object.  We are not omniscient, but we can make decisions without all of the information.  Nobody is omniscient nor will any mortal man ever be.  We must use reason to make well informed decisions.  We must not make decisions with the inferior herd.

Each human aims at a goal to remove an uneasiness.  It’s unlikely for the herd to help remove it.  Each individual of the herd has a different issue.  It’s more likely that this uneasiness will be given to them by a “leader.”  He doesn’t have your best interest in mind, nor does he care about the uneasiness you have.  Whatever ends you want to attain won’t be attained.  The “leader’s” ends will be attained with the use of the herd.

He will claim to be scientific.  This is impossible.  We are dealing with human action.  The action of humans can’t be predicted.  It can be anticipated, but it’s much more of an art than a hard science.  To be scientific, human action must have regularity.  Humans will always act differently.  They may even act differently under the same conditions at different times.  Economics will never be a physical science.

Humans act, there’s no way around that.  It’s much more beneficial—in the long run—to remain an individual than become a member of the herd.  The herd obliterates the use of reason.   The reason that you’d use to make decisions is gone.  Decisions are then made by the herdsman.  He will pretend to be scientific.  However, this is impossible.  Human action is not, nor will it ever be, a branch of the physical sciences.

Reference

Ludwig von Mises; The Ultimate Foundation of Economic Science