Like our irregular newsletter, our irregular Reflective Repasts continue. At our last one in mid-May, Dr Douglas McWillams, head of the Centre for Economics and Business Research, led a fascinating discussion on the Precautionary Principle, i.e. is it better to do nothing rather than something? As always, S.B. Lady Daphne made the perfect setting for a great debate. As the guest of honour, Doug did a fantastic job bringing out subtle points from the participants. In the end, the balance of favour seemed to be that the Precautionary Principle was, at best, a weak substitute for clear thinking supported by good analysis. At worst, the Principle was a dangerous impediment to progress.