Underestimating memory

The international energy crisis is indeed threatening to develop into an acute social problem. 

But oversimplifying the problem by promising to solve it in one go – by putting a cap on electricity bills, or nationalizing Public Power Corporation (PPC) – underestimates not people’s intelligence, but people’s memory. 

Everyone remembers where such populism led. Everyone remembers how much it cost – and who paid for it.

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