*  *  The independence of central banks in theory and in history1  We have been talking about the independence of central banks almost from the time of their inception. In an essay of 1824 David Ricardo accused the Bank of England, founded more than a century earlier, of submitting to the power of the executive.
First, while it is difficult to induce a dramatic increase in the number of workers, it is still possible to slow the pace of decline in the number by making it easier for elderly people and women to participate in the workforce. Nevertheless, the key to strengthening growth potential lies in efforts to raise productivity growth.