Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State

Paperback / softback

Main Details

Title Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State
Authors and Contributors      By (author) Paul Tucker
Physical Properties
Format:Paperback / softback
Pages:664
Dimensions(mm): Height 235,Width 156
Category/GenreSocial and political philosophy
Political economy
Banking
ISBN/Barcode 9780691196305
ClassificationsDewey:332.1
Audience
Tertiary Education (US: College)
Professional & Vocational
Edition 2nd edition

Publishing Details

Publisher Princeton University Press
Imprint Princeton University Press
Publication Date 10 September 2019
Publication Country United States

Description

How central banks and independent regulators can support rather than challenge constitutional democracy Unelected Power lays out the principles needed to ensure that central bankers and other independent regulators act as stewards of the common good. Blending economics, political theory, and public law, this critically important book explores the necessary conditions for delegated but politically insulated power to be legitimate in the eyes of constitutional democracy and the rule of law. It explains why the solution must fit with how real-world government is structured, and why technocrats and their political overseers need incentives to make the system work as intended. Now with a new preface by Paul Tucker, Unelected Power explains how the regulatory state need not be a fourth branch of government free to steer by its own lights, and how central bankers can emulate the best of judicial self-restraint.

Author Biography

Paul Tucker is a fellow at the Harvard Kennedy School and chair of the Systemic Risk Council.

Reviews

"One of Foreign Affairs' Picks for Best of Books 2018" "One of Marketwatch's Nonfiction Best of 2018 Books"