It is an innate quality of humans to be hopeful, and rightly so because when we lose hope our behaviour becomes self-destructive. However, if hope is constantly disappointed by outcomes that are contrary to expectations, despair sets in.

In times of desperation any well-crafted voice will find an audience to entertain it, even if that voice is misleading. The macroeconomic policy space has been noisy with recommendations that may be detrimental over the long term but are accepted because they offer good sound bites, even if they will not last.   ..

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