Volterra partner Paul Ormerod was recently invited to speak to the Polish Economic Council, the top decision making body on the economy in Poland. He spoke about the importance of psychology and narratives in the economy. For example, as quantitative easing is wound down, the same act can lead to quite different outcomes, depending upon the narrative which emerges around it. Different people form different opinions about events such as these, and it is the one which succeeds in spreading successfully which counts. Paul says, ‘Poland is Europe’s most successful economy, they were the only ones to avoid a recession. One reason is surely the fact that even top decision makers are willing to listen to innovative ideas.’ Read Paul’s recent blog on what we can learn from the Polish economy here.
