Tuesday, February 21, 2012

Uncertainty is a public good

.... Bare Talk recalls a remark by Y.V. Reddy, the former governor of the Reserve Bank of India that policy certainty is a public good and that it cannot be provided for free. If I may extend it further, policy certainty is a public good and, hence, it should only be deployed where there is unambiguous public benefit or where public benefits exceed public costs.....

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