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Europe Needs to Overcome Its Cognitive Dissonance: Scott Minerd

July 27 (Bloomberg) -- In the early 1950s, the American social psychologist Leon Festinger conducted an experiment that provides a valuable insight into Europe’s current troubles.

He encountered a religious cult that believed UFOs were coming to rescue its members from a cataclysmic flood that would destroy the earth. He infiltrated the group to research a theory he called “cognitive dissonance,” or the psychological tension experienced when people are presented with evidence that contradicts their assumptions or beliefs.