“The air-traffic controller can help make sure people get where they were going safely. If he does his job well, things will turn out as expected. But if he does a ‘brilliant’ job, travellers end up where they didn’t expect to go; he has not really added to the sum of human happiness. Out-of-the-box air traffic controlling will not make the world a better place. It can only make a mess of things. Likewise, the best a central banker can do is the normal thing. Creative central banking — and experimental central bank policies — should be avoided. They don’t make the world a better place; they only take people where they didn’t want to go.”

http://www.dailyreckoning.com.au/the-virgin-central-banker/2013/08/15/

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