Uncomfortable Conversations with Josh Szeps Steven Pinker on Moral Panics, Media Bias, and Why We Hoarded Toilet Paper During Covid
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Jan 19, 2026 
In this engaging discussion, cognitive psychologist Steven Pinker digs into how shared knowledge shapes society. He explores the impact of media fragmentation on public perception and the fascinating psychology behind the toilet paper hoarding frenzy during COVID. Pinker argues that reliance on myths overshadows objective truth, highlighting the need for institutions that uphold factual knowledge. He discusses the role of language in fostering connections and how status symbols influence societal dynamics, offering insights into human behavior and communication.
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Toilet Paper As A Bank-Run Example
- Toilet-paper hoarding during COVID behaved like a bank run driven by expectations about others' expectations.
- Supermarket purchase limits worked by creating common knowledge that others would not hoard.
Expectation Loops Create Bubbles And Panics
- Keynesian 'beauty contest' reasoning shows many social and economic phenomena are recursive.
- Expectations about others' expectations can create bubbles, panics, and depressions.
Bank Opulence Was A Signal Of Solvency
- Banks historically displayed opulence to signal solvency and calm depositors' fears.
- Deposit insurance later institutionalized that signal and largely prevented self-fulfilling runs.
