Central Banks
The bank of Canada is not controled by parliament. Many see this as a grand thing, as the people can not meddle in the economy. I would call them fools.
The bank is ostensibly independent, but is largely run to the benefit of business. Certainly what is good for business sometimes matches what is good for citizens, but not all the time. This is strange, since rights of a citizen are constitutionally guaranteed, while businesses are just a construct. Constructs have protections of their interest which we, citizens, do not.
Parliament represents us, the people of Canada. If parliament does not control the bank, then we do not control the bank. The bank operates in the interest of a subset of citizens who have no doubt convinced themselves, and perhaps many others, that what is in their interest is in the interest of Canadians as a whole.
It is a problem. A problem lacking a clear solution.
One wonders how
Tags: banks, democracy, economics, parliament