Cognitive Dissonance: When feelings and facts are in opposition, people will find, or invent, a way to reconcile them.

Richard Feynman stated it more memorably:
"The first rule is not to fool yourself, and you are the easiest person to fool."


Eric Beinhocker in ‘The Origin of Wealth’ expands on the idea:

People have a general bias toward spinning their reality in positive ways and ignoring uncomfortable facts. It takes a real jolt to...

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