This episode covers what inspired the piece, Andrew Bailey’s oral evidence to the House of Lords Economic Affairs Committee on 2 June 2026, why I chose to ground the argument in Paul Tucker’s book Unelected Power rather than in the consequentialist critique others have made well, the 2023 Lords committee report and its recommendation to publish the deed…
The Steady State Audio Notes
Audio Notes: The Fiscal Weight of Monetary Policy
Audio Notes: The Fiscal Weight of Monetary Policy
The logic of central bank independence is being overrun by unconventional monetary policy
The Steady State Audio Notes
Companion commentary to each piece in The Steady State, a publication on prices, power, and the institutional design of modern economies. Author's notes on what inspired each piece, where the argument is going, and what didn't fit in the written form.
Companion commentary to each piece in The Steady State, a publication on prices, power, and the institutional design of modern economies. Author's notes on what inspired each piece, where the argument is going, and what didn't fit in the written form.Appears in episode
