The frameworks we operate with, the ideas that “ramify … into every corner of our minds”, must be capable of change.31 As I said, preserving institutions could also weaken them. Our challenge is to understand how and when our frameworks need to change.
We need to be ready to challenge familiar paradigms, as one way of eroding social capital is to ignore the need for change. So where does this leave us? Well for me, back to the beginning and back to the present. Back to the beginning, in the sense that at their core central banks exist to provide monetary stability.