Princeton University Press
Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State
Key Metrics
- Paul Tucker
- Princeton University Press
- Paperback
- 9780691196305
- 9.1 X 6 X 1.9 inches
- 1.55 pounds
- Business & Economics > Government & Business
- English
Secure TransactionBook 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 Bio
Sir Paul Tucker is chair of the Systemic Risk Council, a fellow at Harvard Kennedy School, and author of Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State (Princeton University Press, 2018).
His other activities include being a director at Swiss Re, president of the UK’s National Institute for Economic and Social Research, a senior fellow at the Minda de Gunzburg Center for European Studies at Harvard, a member of the advisory board of the Yale Program on Financial Stability, and a governor of the Ditchley Foundation.
Previously, he was deputy governor at the Bank of England, sitting on its monetary policy, financial stability, and prudential policy committees. Internationally, he was a member of the G20 Financial Stability Board, chairing its group on resolving too-big-to-fail groups; and a director of the Bank for International Settlements, chairing its Committee on Payment and Settlement Systems.
Source: Minda de Gunzburg Center for European Studies at Harvard University
Videos
No Videos
Community reviews
Write a ReviewNo Community reviews