DEMOCRACY OR TECHNOCRACY? PAUL TUCKER’S BOOK IS A BOLD ATTEMPT BUT FALLS SHORT Download newsletter In a paper published in 2016, RADIX sought to stimulate a debate on how to square the circle of central bank independence with democratic legitimacy. Paul Tucker, former Deputy Governor at the Bank of England examines this question in detail […]
Thursday 8th June 2017, 14:00 - 17:00
In June last year, we published a paper on the Bank of England’s Quantitative Easing Programme. In our report we showed that the program as implemented benefited the wealthy and harmed the less wealthy. We called for a review of the appropriate nature and limits of Central Bank independence without political accountability given the large […]
In our report on Quantitative Easing, we urged for a debate on the effects of monetary policy and what is the appropriate approach to central bank independence to ensure proper political accountability for policies that have substantial social impacts. The debate has now started in earnest. Here we bring you some of the opinion has […]
“The objectives are what are set by the politicians. The policies are done by technocrats. We are not going to take instruction on our policies from the political side.” This reported statement by Mark Carney, Governor of the Bank of England, came in response to the Prime Minister’s speech at Conservative Party conference where she […]
Recommendations made by Radix in a report titled “Quantitative Easing: the Debate That Never Happened” have become government policy. In our report we outline the regressive impact of monetary policy as currently practiced. There are alternative ways of implementing Quantitative Easing that would have not been so regressive. We also recommend that, in a functioning […]
Quantitative Easing has enriched the wealthy at the expense of the poor. What does this mean for Central Bank independence and political accountability?