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Leah Downey, "Our Money: Monetary Policy as If Democracy Matters" (Princeton UP, 2024)
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: Monetary Policy as If Democracy Matters (Princeton UP, 2024), Leah Downey makes a principled case against central bank independence (CBI)…
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