“Hungover people do not go out and riot.”

Writing in The Observer David Sharrock has been wondering “why are there no barricades on the streets of Dublin?

For his part, Tóibín thinks that all economists are mad. But he can agree with Philip Lane, professor of international macroeconomics at Trinity College Dublin. The two certainly share an explanation of the public mood, this sense of confusion and despair that is not being converted into street protests. According to Lane, shame is at the root of the Irish reaction. “There was sufficiently wide participation in the property market for there to be a collective shame for what went on,” he said. “A hangover follows a big party.” Hungover people do not go out and riot.

It could also be that there’s a greater understanding of the wider economic and political considerations in play than most of the media coverage would suggest.

But I doubt it…

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