Law & Liberty: Counting the Costs of Overreaction

The combination of fear and ignorance typically leads to panic or hysteria, both extreme manifestations of overreacting. Rather than an individual overreacting, where the consequences are limited, collective overreacting has profound social, economic, and political effects. It’s why we expect statesman to exercise prudent and calm judgment, particularly during times of mass hysteria and media overplay. Those engaged in overreaction either don’t have decision-making authority, are incapable of looking at the

Source: Counting the Costs of Overreaction – Law & Liberty