Technology optimists meanwhile predict the advent of a bright future, with the diffusion of innovation bringing about significant productivity increases and high levels of well-being. It is important for us economists to be humble when forecasting the future. Debating concepts such as ‘secular stagnation’ may be fashionable now, but we should remember only a decade ago it was fashionable to debate the ‘Great Moderation’.
By the same token, the observed 2/7  BIS central bankers' speeches  resilience of a moderate economic recovery and strong confidence indicators should not lead to complacency. Respondents to survey questions can be influenced by what they consider to be a normal benchmark.