Is the UK talking itself into decline? UK Chancellor Jeremy Hunt recently rejected the “declinist narrative” as potentially self-fulfilling. In her Financial Times analysis, economist Soumaya Keynes examines whether pessimism about the UK economy is justified or making economic problems worse. She cites studies that suggest optimistic narratives can sometimes boost hiring, investment and consumer spending, while despondency could be self-fulfilling. According to The Sunday Times, the roots of the UK’s sluggish growth and weak productivity are due to its long-standing domestic policy failures on housing, infrastructure, energy, and excessive regulation.
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