NEVA MAKGETLA: Yell of ‘fire’ should not provoke retreat from what needs to be done
Risk-averse strategies in response to populism cannot deliver the profound changes we need, including in monetary policy
A century ago US Supreme Court Justice Oliver Wendell Holmes wrote that yelling “fire” in a crowded theatre exemplified abuse of free speech. It can lead to panic, stampedes, even deaths.
It makes a difference, however, if there really is a fire. The person shouting “fire” may be stirring panic, and you may try to shut them up. But you still need to put the fire out...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.