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Leah Downey | Akateeminen Kirjakauppa

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Our Money - Monetary Policy as if Democracy Matters
Leah Rose Ely Downey
Princeton University Press (2025)
Kovakantinen kirja
39,50
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A Political Economy of Justice
Danielle Allen; Yochai Benkler; Leah Downey; Rebecca Henderson; Josh Simons
The University of Chicago Press (2022)
Kovakantinen kirja
129,30
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A Political Economy of Justice
Danielle Allen; Yochai Benkler; Leah Downey; Rebecca Henderson; Josh Simons
The University of Chicago Press (2022)
Pehmeäkantinen kirja
42,00
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Our Money - Monetary Policy as if Democracy Matters
39,50 €
Princeton University Press
Sivumäärä: 264 sivua
Asu: Kovakantinen kirja
Julkaisuvuosi: 2025, 04.02.2025 (lisätietoa)
Kieli: Englanti
How the creation of money and monetary policy can be more democratic

The power to create money is foundational to the state. In the United States, that power has been largely delegated to private banks governed by an independent central bank. Putting monetary policy in the hands of a set of insulated, nonelected experts has fueled the popular rejection of expertise as well as a widespread dissatisfaction with democratically elected officials. In Our Money, Leah Downey makes a principled case against central bank independence (CBI) by both challenging the economic theory behind it and developing a democratic rationale for sustaining the power of the legislature to determine who can create money and on what terms. How states govern money creation has an impact on the capacity of the people and their elected officials to steer policy over time. In a healthy democracy, Downey argues, the balance of power over money creation matters.

Downey applies and develops democratic theory through an exploration of monetary policy. In so doing, she develops a novel theory of independent agencies in the context of democratic government, arguing that states can employ expertise without being ruled by experts. Downey argues that it is through iterative governance, the legislature knowing and regularly showing its power over policy, that the people can retain their democratic power to guide policy in the modern state. As for contemporary macroeconomic arguments in defense of central bank independence, Downey suggests that the purported economic benefits do not outweigh the democratic costs.

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Myymäläsaatavuus
Helsinki
Tapiola
Turku
Tampere
Our Money - Monetary Policy as if Democracy Matterszoom
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ISBN:
9780691244433
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