Government should not give in to fear
The government should not capitulate when the public shows an excessive fear towards risk, says a new paper from Harvard's John F. Kennedy School of Government.
The research argues that the current financial crisis highlights that fears and anxieties can dramatically magnify both the likelihood and size of a severe adverse outcome as a result of an excessive fear towards risk. Policymakers should therefore try to reduce fear as fear itself imposes significant costs.
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