Space to Think, a new book celebrating ten years of the Dublin Review of Books More Information 

    Cognitive Tics of the Herd

    Paul Daly
    Limiting the size of financial institutions seems a likely and probably popular outcome, in the shape of something like the so-called “Volcker Rule”, named after Paul Volcker, formerly the chair of the Federal Reserve and now a key adviser to President Obama. But even here problems abound. To begin with, although Too Big to Fail is an apt title, Ross Sorkin could just as easily have entitled his book Too Interconnected to Fail.
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    A Sound Constitution

    Paul Daly
    The adoption of an amendment process that required a referendum to approve any constitutional change can be explained by de Valera’s need to establish the people as the font of all authority and thereby marginalise extreme nationalists. More troubling is the odd – though never once invoked – Article 27 provision, which allows the president to call a referendum or general election on a contentious issue. There is absolutely no benefit to a governing party from this provision, which is further evidence of de Valera’s willingness to put democratic principle before party advantage.
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