For economists and individualists there are several valuable insights to be gained from the sister discipline of sociology. (In a previous column I discussed one of these, the notion of a ‘moral panic’). One such idea, which is both powerful and very useful in understanding many contemporary phenomena, is that of the “cultic milieu.” This sociological concept is also strengthened when combined with certain economic insights. The result is a better understanding of a phenomenon that has always existed but has become much more extensive and significant recently.
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