IRRATIONAL EXUBERANCE: What Do We Clap for When We Clap for Government? I like joining my Bronx neighbors in the nightly tribute to health-care workers, but I worry about our fondness for “encompassment,” as the economist Daniel Klein terms our yearning for emotional communion with everyone around us. As Hayek warned, it’s this emotional inheritance from our hunter-gatherer ancestors that leads to blather about “social justice” and enthusiam for political collectivism. This primal impulse for solidarity explains why socialism’s appeal endures despite its colossal failures — and why Americans have cheered the unprecedented expansion of government power during the pandemic.
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