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Economics

The Role of Expertise in Technocratic Policy-Making

Quick fact

Highly independent central banks are a classic example of technocratic policy-making; research suggests that such independence tends to lower inflation without harming economic growth.

Why this is interesting

Imagine public health policy during a pandemic: if a virologist says to lock down and a politician says to open up, who should decide? This tension between expert knowledge and public power is the heart of technocratic policy-making.