"Reconsidering the limits-past, present, future-of the financial institutions that stand between us and the abyss. Two financial crises in two decades have expanded and diversified the roles of central banks in the twenty-first century. With the 2008 crash, they became the lenders of last resort in monetary policy; with Covid-19, they became underwriters of the public welfare. Both powers are expansive, unchecked, and inherently political. Is this democracy? In Balance of Power, economist and historian ???Eric Monnet traces ...
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"Reconsidering the limits-past, present, future-of the financial institutions that stand between us and the abyss. Two financial crises in two decades have expanded and diversified the roles of central banks in the twenty-first century. With the 2008 crash, they became the lenders of last resort in monetary policy; with Covid-19, they became underwriters of the public welfare. Both powers are expansive, unchecked, and inherently political. Is this democracy? In Balance of Power, economist and historian ???Eric Monnet traces the rise of the central banks-from their public-private origins to their current portfolio, which spans everything from interest rates to international relations-to make an urgent and erudite argument: the central banks are no longer independent, if they ever were. And our ability to subject them to democratic rule will go a long way in wielding their expansive powers effectively in societies that face multiple crises at once. Eschewing the traditional storytelling around the birth of central banks and their operational independence, Monnet shows how the power of central banks flows from their origins as a part of the welfare state: they were the financial apparatus used to stabilize societies after World War II, and they have never abdicated that role since. Today it can be seen in the central banks' role as insurance providers-the backstop institution of bailouts, stimuli, and rescue plans. As new challenges emerge, including the boom of digital currencies and the simmering crisis of climate change, central banks will necessarily have to break the glass on longstanding taboos of monetary policy. With this creeping expansion well underway, Monnet offers a trenchant, deeply erudite case for what a democratic central bank can look like"--
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Add this copy of Balance of Power: Central Banks and the Fate of to cart. $17.07, new condition, Sold by GreatBookPrices rated 4.0 out of 5 stars, ships from Columbia, MD, UNITED STATES, published 2024 by University of Chicago Press.
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New. Sewn binding. Cloth over boards. 264 p. In Stock. 100% Money Back Guarantee. Brand New, Perfect Condition, allow 4-14 business days for standard shipping. To Alaska, Hawaii, U.S. protectorate, P.O. box, and APO/FPO addresses allow 4-28 business days for Standard shipping. No expedited shipping. All orders placed with expedited shipping will be cancelled. Over 3, 000, 000 happy customers.
Add this copy of Balance of Power: Central Banks and the Fate of to cart. $17.08, new condition, Sold by Ingram Customer Returns Center rated 5.0 out of 5 stars, ships from NV, USA, published 2024 by University of Chicago Press.
Add this copy of Balance of Power: Central Banks and the Fate of to cart. $19.89, like new condition, Sold by GreatBookPrices rated 4.0 out of 5 stars, ships from Columbia, MD, UNITED STATES, published 2024 by University of Chicago Press.
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Fine. Sewn binding. Cloth over boards. 264 p. In Stock. 100% Money Back Guarantee. Brand New, Perfect Condition, allow 4-14 business days for standard shipping. To Alaska, Hawaii, U.S. protectorate, P.O. box, and APO/FPO addresses allow 4-28 business days for Standard shipping. No expedited shipping. All orders placed with expedited shipping will be cancelled. Over 3, 000, 000 happy customers.
Add this copy of Balance of Power: Central Banks and the Fate of to cart. $19.90, good condition, Sold by Book Culture Inc. rated 5.0 out of 5 stars, ships from New York, NY, UNITED STATES, published 2024 by University of Chicago Press.
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Good. All pages and cover are intact. Possible minor highlighting and marginalia. Ships from an indie bookstore in NYC. Sewn binding. Cloth over boards. 264 p.
