Conservative economics and delusions

For the last 30 years, the right has gotten most of what it wanted – lower taxes, weaker unions and less regulation. And yet macroeconomic performance – as measured by GDP growth per head – hasn’t improved. Their response to this has been a classic example of the backfire effect. As David McRaney says: “When your deepest convictions are challenged by contradictory evidence, your beliefs get stronger.” 29th March 2017


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