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Doomsayers predict disaster, but what if they're proved wrong?

Conor Skehan


Pessimism about the global economic situation may blind us to the need for hope as we face into the future, writes Conor Skehan

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Boy's face, looking at camera, cropped view with digitally placed Ireland flag on his face. Stock picture

Boy's face, looking at camera, cropped view with digitally placed Ireland flag on his face. Stock picture

Boy's face, looking at camera, cropped view with digitally placed Ireland flag on his face. Stock picture

The media seems to be full of practitioners of the dismal science who are busy predicting how badly the world's economy will fare in the aftermath of Covid-19. You will find some of them in this paper today. What happens if they are wrong? Does anybody have a plan for success? Does anybody have a plan to accommodate a rapid recovery?

If there is any relevant lesson from history, it is surely the resilience and adaptability of humans in the face of adversity. A famous quotation from 1966 about economists' forecasts noted that "Wall Street indices predicted nine out of the last five recessions".


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