Cryptic crossword clue
Dunce’s cap is maybe part of break with reality 8

The most common and most likely answer to this crossword clue is the 8 letter word ESCAPISM

I've seen this crossword clue in Financial Times
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Buddy explains!

The straight part
We know that "break with reality" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case break with reality = escapism.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does ESCAPISM mean?

ESCAPISM noun
  1. An inclination to escape from routine or reality into fantasy.
  2. A genre of book, film etc. that one uses to indulge this tendency.
  3. The performance of an escape artist.

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