AUDIO: Don’t Blink: The Politics of Successful Structural Reform

Politicians almost universally believe that timely, appropriate and voluntary action to remedy structural economic imbalance should be avoided at all costs because it amounts to political suicide. Consequently, as studies by the Organization for Economic Cooperation and Development show, in eight out of 10 cases over the past decade, reform was left until the developing imbalance had collapsed the currency or caused some other costly economic or social disaster.