1 COMMISSION OF ENQUIRY

THE QUESTION OF MAKING IT HAPPEN

WHY CAN SUCH FAR REACHING EFFECTS

BE EXPECTED?

Commission members should not be surprised that the benefits of making the recommended changes are many and far reaching. It is a well known fact, used by doctors, social scientists, and engineers, that when a complex system misbehaves and symptoms appear all over the place, there is something that is not being done 'by the book'.

With the depth of investigation and the quality of the peer reviews already carried out, the governments of the world should not have a big problem with setting up a commission of enquiry into the new policy options which these ideas create.

This agenda for the commission of enquiry gives a guide to where the essential papers can be found and which need to be well read and understood. The main pages are to be found on the INGRAM SCHOOL ILLUSTRATIONS Blog.

Supplementing that there is one page on NEW FINANCIAL PRODUCTS RESULTING 

These ten pages end with an outline of the practical steps needed for IMPLEMENTATION.

BACKGROUND

PROOF OF WHY A COMMISSION IS NEEDED

In 2004, (pre-crisis), a voluntary select committee / commission of enquiry was formed by volunteers of exceptionally high calibre to examine and discuss the ideas put forward.

The committee was chaired by the senior partner from one of the big four international consultancies in Edward’s home city of Harare, who recruited John Robertson, the leading economist and ex senior economist at a bank there, and the senior executive of the Building Societies Association, Mike Harrison now on the Board of Directors at IngramSure Ltd. Later, other joined including: the head of Economics at the University, Newton Mugabe, an actuary from South Africa, a spokesman for a different regional Central Bank, now a long standing personal friend and professor of economics, and W J Waghorn, a mathematician from the UK.

After many times of asking individuals in the select committee / commission to endorse the ideas that they had examined, fearing for their reputation, not one person made an offer. However, when the members were asked if any one of them could find fault with any of it, there was complete silence. No one could find any fault.

The outcome was a unanimous agreement that the proposals should be written up and published, discussed, and taken forward. 

Nothing could indicate more clearly that one person or two, with a reputation to lose, are not able to endorse such all-embracing proposals. It takes a number of skills and knowledge areas to discuss and endorse such wide-ranging topics as the likely impact on an economy, and hence there is a need for a highly experienced, diverse, and well qualified commission of enquiry. 

Yet the fundamental basis of the ideas is extremely simple: they allow prices to adjust in the kind of way that we would all expect them to adjust if they were not reset forcefully by our rules and regulations.