The Rise Of Central Banks by Leon Wansleben
State Power in Financial Capitalism
Traces how monetary authorities became pivotal actors in modern capitalism, showing how disinflation drives, crises, and market-building expanded their remit from price stability to steering credit and safeguarding finance. Drawing on U.S. and U.K. cases, it examines the organizational techniques, expert networks, and legitimating discourses that secured independence while deepening financialization. It analyzes unconventional tools like quantitative easing, the entanglement with market-based finance, and the distributional effects of asset-price support, arguing that this power depends on fragile political coalitions and generates new vulnerabilities. It ultimately questions the sustainability and democratic accountability of technocratic rule amid recurring crises.
- Published
- 2023
- Nationality
- American
- Length
- Moderate
- Pages
- 350-400
- Original Language
- English
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- Alternate Titles
- None
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