Friday 6 December 2019

Cosy consensus is path to trouble

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.

Now, amazingly, the Shinners are agreeing with mainstream economists like ESRI, Ray Kinsella and Colm Rapple.

I hope that doesn't become another cosy consensus.

Dr Sean Marlow
Dublin 11

Irish Independent

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