Tuesday 17 January 2017

Cosy consensus is path to trouble

Published 23/10/2010 | 05:00

THIS week's ESRI report, detailing the enormous damage to our economy and society from monetarist austerity from now to 2014, highlights the dangers of an unthinking cosy consensus.

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It was similar consensuses that led to light regulation, low income tax, no wealth tax, Anglo, the building bubble, "go and commit suicide", "turning the corner" and Lisbon 2 (where the consensus had to be "encouraged").

Anyone brave enough to challenge this crazy consensus was arrogantly dismissed as an "economic illiterate" who shouldn't be listened to.

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