Chapter 10: The social sources of unelected power: how central banks became entrapped by infrastructural power and what this can tell us about how (not) to democratize them

• Main Author: Walter, Timo (auth)
• Format: Electronic Book Chapter
• Language: English
• Published: Cheltenham, UK Edward Elgar Publishing 2022
• Subjects: KCA; Central banks; monetary policy; financialization; legitimacy; financial stability; valuation
• Online Access: DOAB: download the publication; DOAB: description of the publication

The 'unconventional' monetary policies of the past decade have re-opened the debate about central banks' accountability and the nature and sources of their legitimacy. Unprecedented quantitative easing and asset purchasing programmes have demonstrated that central banks possess consid...