They range from gravely wounding the economy by excessive caution on the lockdown, to aggravating the pandemic by lifting restrictions too early.

Many of them think the house-price falls they were protecting themselves against have nearly run their course, removing the argument for excessive caution.

Today, the risks of excessive caution are much higher than the hazards of rewarding greed.

But excessive caution carries its own risks.

Some regret they traded off risky adventures for dreary security; that excessive caution or lack of imagination prevented them from realising their potential.