We tend to project recent calamities on to the past, ignoring steady foundations on which state still stands
Behavioural economists use the term “availability bias” to describe our tendency to be overly persuaded by near-term information. What has happened most recently dominates our thinking about what is likely to happen next.
A road exploding in central Johannesburg shifts our view about the quality of metro maintenance of infrastructure and governance. A coin landing on tails shifts our view about the likelihood of the next flip ...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
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