We expect our political leaders to manage the level of economic activity by employing fiscal and monetary tools such as interest rates, tax incentives and stimulus packages to avoid recessions. However, in the aftermath of the bursting of the largest bubble in history, in the property market as well as other markets, we see that a social-psychological phenomenon, over-confidence, was not managed by leaders, and its subsequent collapse represents the deepest cause of the financial crisis.
我們期望，我們的政治領導人會利用利率、稅收優惠以及經濟刺激計劃等財政和貨幣工具來管理經濟活動水平，從而避免經濟衰退。然而，在史上最大的泡沫破裂之后，我們看到，房地產及其它市場上的一個社會心理學現象——過度自信沒有得到領導人的妥善管理，而其隨后的崩塌正是金融危機的最深層次致因。
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