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THE MEANING OF INFLUENCE

Once more on monetary policy, the Reserve Bank and ‘control’.

Listener 21 May, 1994 This is the fourth of a sequence of four columns written in the early 1990s about monetary policy, which continue to be relevant today. They are
The Hole in the Reserve Bank
What the Reserve Bank Believes
Who Controls the Exchange Rate?
The Meaning of Influence

Keywords Macroeconomics & Money

In his April 16 reply to my Who Controls the Exchange Rate?, the Governor of the Reserve Bank tried to distinguish between “control” and “influence” of the exchange rate. Since I want to avoid arguments about words rather than things, I shall withdraw the use of the term “control”. (I was using it in the way systems engineers do.) So let me rephrase and simplify my argument.

21st May 1994 | Comments Closed

THE LEGACY OF A POET: Milton! Thou Should Be Living in this Hour.

Listener: 7 May, 1994.

Keywords: Literature and Culture;

Economists were once thought to be among the liberal and progressive sections of the intelligentsia. Today they are thought of as curmudgeonly philistines. As a mild protest I thought I should write about the poet and pamphleteer John Milton, who lived in the 17th century, more than 100 years before the word economy gained the meaning it has today. England then had about the same population as New Zealand today, but it was more rural, with London, the largest city, about half the size of Christchurch.

7th May 1994 | Comments Closed