The conceptual scheme of the Trias Politica was a useful ladder to climb out of the situation of feodality and absolute kings. But a ladder is not a goal in itself. Democracy is a living concept and can develop further. If we find that the Trias Politica fail with regards to our needs, then we should adapt it.
In the past there have been two steps towards more independence and more checks and balances in the management of the economy. First there was the independent Central Bank, and then the separate Council of Economic Advisers to the government (or other planning body). Indeed, the situation after the Second World War has been much improved: instead of a Great Depression we only got a Great Stagflation.
Okun (1983), “The economist and Presidential leadership”, provides an recommendable account of current practice. Two quotes are particularly relevant, one that observes current partiality and one that advises impartiality:
“Given these constraints, members of the Council of Economic Advisers are clearly recognized as the President’s men. If they speak publicly, they will be identified as spokesmen for administrative positions.”
“One wishes for a more effective way of influencing public and congressional opinion in the areas of professional consensus. There is a role to be played by a Supreme Court in the profession, although a less important one than that actually fulfilled by the Council and the Bureau of the Budget in recent years.” (p580)
We are advised to go one step further than the current situation, and create a scientific Economic Supreme Court safeguarded within the Constitution as an equal partner next to the three of the Trias Politica. Its role will be limited, but crucial.
The argument is not that politicians could not be qualified in economics. The argument is the balance of power. Having an Economic Supreme Court increases democracy, since it improves the quality of the checks and balances. It caters to the civic right of good government and to the right to know.
The crucial considerations are:
· The first point is theory dependence. The State will decide on its policy while using an economic model. Hence policy is directly dependent upon the state of economic theory. Who is going to decide what the current state of theory is ?
· The second point concerns self-reference (reflexiveness). The model contains a submodel of State instruments. Clarity requires that policy itself is clearly formulated and put into the model too (with error terms to allow for possible discretion).