A month or so ago I went along to hear the Governor of the Reserve Bank speak at the Law and Economics Association in Wellington. LEANZ is a pretty geeky sort of organisation (or attracts pretty geeky sorts of people) and against the background it was quite surprising how little substance there was to the Governor’s speech, which was billed as “Delivering on Great and Best” at the Reserve Bank. That is the Governor’s grandiose vision: his predecessor claimed to want the Bank to be the “best small central bank” in the world (although did little or nothing about it, including no relevant benchmarking) but Orr takes that a giant step further and claims to want to be the best central bank in the world. You might think that harmless – always good to aim high etc – but in a small country, not very prosperous, it isn’t clear…
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Utopia, you are standing in it! 
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