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.
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.