http://www.stuff.co.nz/dominion-post/comment/editorials/91414223/Editorial-Jobs-matter-just-as-much-as-low-inflation

"Labour's proposed changes to the Reserve Bank are sensible and worth
trying. They will certainly do no harm, and might bring real benefits.

The proposal adds full employment to the bank's current mandate of
price stability. This would give the bank the Dual Mandate under which
the American central bank, the Federal Reserve, has operated since the
1970s.

The theory is that the bank's task of setting interest rates should
reflect not just the value of stable prices, but jobs as well. This is
a bit like arguing for both motherhood and apple pie, however, so the
theory matters much less than the actual practice of central banks.

Some argue that those with only an inflation goal, such as the
European Central Bank, have performed much more poorly than the Fed.
In fact, that seems to be the case. The Eurozone seems stuck in a
damaging cycle of austerity, with economically and socially harmful
levels of unemployment.

The United States, on the other hand, has recovered much more quickly
from the great recession and now has less than five per cent
unemployment. . . . "

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On 2017-04-11, Rich80105 <rich80105@hotmail.com> wrote:

http://www.stuff.co.nz/dominion-post/comment/editorials/91414223/Editorial-Jobs-matter-just-as-much-as-low-inflation

"Labour's proposed changes to the Reserve Bank are sensible and worth
trying. They will certainly do no harm, and might bring real benefits.

The proposal adds full employment to the bank's current mandate of
price stability. This would give the bank the Dual Mandate under which
the American central bank, the Federal Reserve, has operated since the
1970s.

The theory is that the bank's task of setting interest rates should
reflect not just the value of stable prices, but jobs as well. This is
a bit like arguing for both motherhood and apple pie, however, so the
theory matters much less than the actual practice of central banks.

Some argue that those with only an inflation goal, such as the
European Central Bank, have performed much more poorly than the Fed.
In fact, that seems to be the case. The Eurozone seems stuck in a
damaging cycle of austerity, with economically and socially harmful
levels of unemployment.

The United States, on the other hand, has recovered much more quickly
from the great recession and now has less than five per cent
unemployment. . . . "

So why then was Donald Trump elected?

--- SoupGate-Win32 v1.05
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On 11/04/2017 5:23 p.m., Rich80105 wrote:

http://www.stuff.co.nz/dominion-post/comment/editorials/91414223/Editorial-Jobs-matter-just-as-much-as-low-inflation

"Labour's proposed changes to the Reserve Bank are sensible and worth
trying. They will certainly do no harm, and might bring real benefits.

The proposal adds full employment to the bank's current mandate of
price stability. This would give the bank the Dual Mandate under which
the American central bank, the Federal Reserve, has operated since the
1970s.

The theory is that the bank's task of setting interest rates should
reflect not just the value of stable prices, but jobs as well. This is
a bit like arguing for both motherhood and apple pie, however, so the
theory matters much less than the actual practice of central banks.

Some argue that those with only an inflation goal, such as the
European Central Bank, have performed much more poorly than the Fed.
In fact, that seems to be the case. The Eurozone seems stuck in a
damaging cycle of austerity, with economically and socially harmful
levels of unemployment.

The United States, on the other hand, has recovered much more quickly
from the great recession and now has less than five per cent
unemployment. . . . "

Only problem Rich is the only description of 'full employment' Labour
gives us is 'less than 5%'. Which for anyone who isn't a trolling
marxist muppet isn't 'full employment. But guess Labour want have a bet
both ways just in case they win in September.

Pooh

--- SoupGate-Win32 v1.05
* Origin: Agency HUB, Dunedin - New Zealand | Fido<>Usenet Gateway (3:770/3)