On Saturday evening I put out my paper Time to reform the governance of the Reserve Bank. It was slightly odd timing in some ways, but the Sunday Star Times had expressed interest in giving the issue some coverage.
Many people won’t read an 18 page paper, so I’m going to highlight some of the key aspects of the paper in a series of posts this week. The essence of my argument is that decisions around monetary policy and financial regulatory policy should not be exercised by a single unelected official, no matter how good the official. No other advanced democracy does it that way, and New Zealand runs no other aspects of policy that way.
But I should first repeat one point. Decisions around the governance of the Reserve Bank are a matter for the Minister of Finance and, ultimately, for Parliament, so my arguments for change are…
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Utopia, you are standing in it! 
Jun 02, 2015 @ 15:34:44
Really interesting article.
Definitely in Around the Traps with thanks to you for the direction.
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