Economic caution will serve Ireland better than complancy
We should not forget the lessons of the crisis
Daniel Kahneman, the Nobel Prize-winning psychologist, describes in his book, Thinking Fast And Slow, the plight of Californian disaster survivors. After severe earthquakes, victims flood to insurance companies in the desire to ensure that they are somehow insulated from such calamitous events harming them once again, but soon memories fade and, shortly after, a sense of complacency returns.
Kahneman points to the dynamics of memory as helping to explain the recurring cycles of ...
