Opinion | Mark Carney has a grand unifying theory of the economy. Unfortunately, he's not acting on it

Theory Briefing

• Six years ago, Carney developed his own unified theory of housing costs — a rare case of a central banker doing original economic diagnosis.
• The opinion piece argues a gap has opened between Carney's theoretical framework and the actual policies he is now pursuing in office.
• The tension raises a classic question: whether leaders who understand a problem's root cause are still constrained from acting on it by political reality.
• Housing affordability sits at the centre of the critique, suggesting Carney's theory pointed to structural fixes his current platform does not deliver.