The Economist on the Global Economy: A glimmer of hope?

Posted by Kendall Harmon

But, welcome as it is, optimism contains two traps, one obvious, the other more subtle. The obvious trap is that confidence proves misplaced—that the glimmers of hope are misinterpreted as the beginnings of a strong recovery when all they really show is that the rate of decline is slowing. The subtler trap, particularly for politicians, is that confidence and better news create ruinous complacency. Optimism is one thing, but hubris that the world economy is returning to normal could hinder recovery and block policies to protect against a further plunge into the depths.

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Filed under: * Culture-WatchGlobalization* Economics, PoliticsEconomyThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--Politics in General

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Posted April 25, 2009 at 4:15 pm [Printer Friendly] [Print w/ comments]
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