Tuesday 6 December 2016

It's tricky to change your tune, especially in a time of crisis

Whether you're in camp austerity or camp spend, the prom note deal won't ease burden

Published 24/02/2013 | 04:00

ONE of the striking things about the financial crisis is that almost nobody seems to have changed their minds since it began. Striking because, while the crisis is by no means over, the situation is not remotely the same as in 2008. It keeps evolving all the time.

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I suppose we might exempt the government parties, which changed their minds spectacularly about almost everything, once they had hold of the reins of office. One must expect a certain amount of that after an election, but even St Paul might have been embarrassed by conversion on this scale.

I suppose I cannot exempt myself. I too have held much the same view of events since the start. All I can say is that I never thought these opinions would hold true for ever. The question, a la John Maynard Keynes, was when would the facts have changed enough for one to change one's mind?

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