COVID-19 and the Political Economy of Mass Hysteria Bagus, Philipp Peña Ramos, José Antonio Sánchez Bayón, Antonio Mass hysteria Nocebo effects Contagion Mass media Social media Public health Law and economics Political economy Groupthink Culture of fear Emotional contagion Anxiety Policy error COVID-19 In this article, we aim to develop a political economy of mass hysteria. Using the background of COVID-19, we study past mass hysteria. Negative information which is spread through mass media repetitively can affect public health negatively in the form of nocebo effects and mass hysteria. We argue that mass and digital media in connection with the state may have had adverse consequences during the COVID-19 crisis. The resulting collective hysteria may have contributed to policy errors by governments not in line with health recommendations. While mass hysteria can occur in societies with a minimal state, we show that there exist certain self-corrective mechanisms and limits to the harm inflicted, such as sacrosanct private property rights. However, mass hysteria can be exacerbated and self-reinforcing when the negative information comes from an authoritative source, when the media are politicized, and social networks make the negative information omnipresent. We conclude that the negative long-term effects of mass hysteria are exacerbated by the size of the state. 2024-09-13T10:02:22Z 2024-09-13T10:02:22Z 2021-02-03 journal article Bagus, P.; Peña-Ramos, J.A.; Sánchez-Bayón, A. COVID-19 and the Political Economy of Mass Hysteria. Int. J. Environ. Res. Public Health 2021, 18, 1376. https://doi.org//10.3390/ ijerph18041376 https://hdl.handle.net/10481/94415 10.3390/ ijerph18041376 eng http://creativecommons.org/licenses/by-nc-nd/3.0/ open access Creative Commons Attribution-NonCommercial-NoDerivs 3.0 License MDPI