Sunk Cost Fallacy, Jonathan Sumption in The Telegraph
Lockdown proponents assumed the worst when they had no evidence JONATHAN SUMPTION 22 March 2021 The "sunk cost fallacy" is a well-known source of distortion in human decision-making. A decision is made which has destructive implications. The limited benefits and immense collateral damage gradually become apparent. It is next to impossible for those involved in the decision to change their minds. No one wants to admit that it might all have been for nothing, even if that is the truth. They have invested too much in the decision to reverse out of the cul-de-sac. So they press on, more to avoid blame than to serve the public interest. This is what has happened to governments across Europe and to the dug-in body of specialists who advise them. Their recipe is simple: if lockdowns haven't worked, there is nothing wrong with the concept. We just need more of them. What we really need is a fresh look at the evidence by people who are not committed to their own past pos...