Norway’s Gjedrem tells students merits of rules based system
Svein Gjedrem, the governor of the Norges Bank, on Monday said historical experience in Norway had shown a centrally planned economy was not effective in delivering sustainable growth and that credible policy rules were the only alternative.
Speaking at a lecture for new economics students at the University of Oslo, Gjedrem said the Norwegian experiment of an incomes policy council at the end of the Second World War proved that a state run economy was unable to deliver sustainable growth, as it
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