1/ “The human inclination toward conformity aids hysteria spread.
Indeed, groupthink helps to explain the phenomenon of mass hysteria.
Mass hysteria can be considered to be a form of groupthink.”
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Indeed, groupthink helps to explain the phenomenon of mass hysteria.
Mass hysteria can be considered to be a form of groupthink.”
...
2/ “Due to group pressure and groupthink, hysteria feeds itself, as no alternatives are shown to people.
The information necessary to address the problem cannot be generated in a decentralized way in the market, which is a problem inherent in socialism.”
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The information necessary to address the problem cannot be generated in a decentralized way in the market, which is a problem inherent in socialism.”
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4/ “The more centralized and the more power a state has, the higher the probability and extension of mass hysteria. In a minimal state, there exist self-correcting mechanisms that limit collective hysteria.”
5/ “Self-interested politicians face an asymmetric pay-off. Underestimating a threat and failing to act has great political cost, as politicians will be held responsible for the disaster caused by the threat they underestimated”...
6/ “By contrast, an exaggeration or even invention of a threat and bold state intervention are politically more attractive.”
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7/ “If the existential threat claimed by politicians really turns out to be such a great danger, they can be celebrated as heroes if they enacted bold measures.”
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8/ “If the costs of these measures ultimately turn out to be excessive compared to the actual danger, then the politicians do not have to bear the cost of the wrong decision but can pass it on to the rest of the population.”
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9/ “Politicians enjoying a guaranteed income therefore have an incentive to exaggerate a danger and to impose exaggerated measures, also called policy overreaction, which is conducive to the emergence and growth of mass hysteria.”
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