Taxing Economic Credibility
Although politicians have always had incentives to cast themselves and their policy proposals in the best possible light, they now seem to be going further than ever into the realm of hyperbole. And, increasingly, the public isn’t falling for it.
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STANFORD – Gone are the days when political leaders saw credibility as their most precious asset. From presidents and prime ministers on down, economic policymakers have crossed into territory beyond the familiar terrain of political hyperbole, becoming increasingly disconnected from voters’ own understanding of reality.