And getting buy-in from them is ultimately critical. To be sure, they have to be led. But they have to be convinced too. I submit that the general public is much more likely to grasp, intuitively, a conversation about growth. Growth in jobs, in incomes, in their standard of living, wealth and prosperity.
Better  BIS central bankers’ speeches  1  allocative efficiency, if we could secure it, would doubtless add to growth. That growth is worth having. But the story is also about how to secure more dynamic effects: increasing the resources available to be deployed in economic activities of various kinds; fostering conditions under which innovation and genuine risk-taking flourish.