Thursday 22 February 2018

A swift recovery but hardly anyone saw it coming either

Illustration by Stephen Byrne
Illustration by Stephen Byrne
Brendan Keenan

Brendan Keenan

OF all the things Britain's Queen Elizabeth might not have expected from her long reign, the most surprising may be to find herself quoted regularly in discussions about macroeconomics.

This stems from her question about the Crash during a visit to the London School of Economics: "Why did no one see it coming?" I don't know what answer she received but "Well - hardly anyone ever does, Ma'am," might be best.

Economists continue to ask themselves the same question, which is why the royal remark keeps coming up. A more pertinent question now, relevant to Ireland in particular, is "Why did hardly anyone see the recovery coming?"

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