Joyce’s crazy plan for the Reserve Bank would only make things worse
The Age criticizes Barnaby Joyce's proposal to grant the Reserve Bank of Australia more power to influence government spending. The article argues that such a move would undermine the bank's independence and effectively outsource economic policy to unelected officials.
Why it matters
This debate highlights ongoing tensions regarding the independence of central banks and their role in managing national inflation and fiscal policy.
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Share A A A Pauline Hanson has, for decades, railed against the nation’s – and the world’s – elites.
Politicians and the media and universities and business leaders who might have an interest in the environment have all been targeted for being out of touch with ordinary Australians.
In terms of elites, the Reserve Bank is absolutely at the tip of the spear. Its headquarters is in Martin Place, Sydney, just across from the NSW Parliament. If that’s not the centre of economic elitism in this country, you can certainly see it from there.
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