David McWilliams: The Pandession is destroying Ireland’s Craic Economy

Income in the ‘Craic Economy’ – composed of bars, clubs and festivals – has dropped to zero

David McWilliams: ‘The Craic Economy covers bars, restaurants, hotels, comedy clubs ... and so one.’ All quiet in Temple Bar, Dublin on the eve of St Patricks Day this year as coronavirus restrictions came into place. Photograph: Nick Bradshaw/The Irish Times

David McWilliams: ‘The Craic Economy covers bars, restaurants, hotels, comedy clubs ... and so one.’ All quiet in Temple Bar, Dublin on the eve of St Patricks Day this year as coronavirus restrictions came into place. Photograph: Nick Bradshaw/The Irish Times

To understand new phenomena, we need new language. Language is critical to our comprehension because language allows us to paint mental pictures. Language is a shortcut and a sort of thought organiser that allows us to see the world with more nuance and depth.

Unfortunately, economics treats language as an afterthought, mangling its beauty and humanity in a grating, mechanical dullness.

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