Clem Fon 2 months ago
CBI is legitimised by 2 arguments. Progressives should defend 1 and keep fighting against 2.
1. Classic separations of powers. The king should not held the purse directly
2. The inflation nutter credibility argument (k&p77,b&g82,rogoff85) whereby the cb plays a discipline role against labor demands
add a skeleton here at some point