Holman Jenkins in The Wall Srteet Journal, A Better Way to Bring the ‘Elites’ Into Line:
Central bankers. Ben Bernanke (weakly), Mario Draghi (weakly), Janet Yellen (weakly to the point of inaudibleness) have all said monetary policy can’t be the sole fix for the Western world’s slow-growth malaise. Yet their words are unheeded so they settle for being enablers of their fellow elites’ flight from responsibility. Monetary policy has become our era’s great crutch so leaders everywhere can go on catering to the same old organized interests instead of undertaking necessary reforms.