The Power of Coordination and Deliberation

Abstract: I provide comments and replies to the seven insightful contributions that discussed “The Democratic Challenge of Central Bank Credit Policies” and the proposal for a European Credit Council. I review how interdisciplinary scholarship on the political economy of central banking have shown the limits of simple principal-agent framework applied to central bank power and legitimacy. I emphasize why a change to central bank independence is not necessary for a fundamental change in the financial system and credit policies. I also argue that deliberations can have strong effects on decision-making and that the power of the people is not restricted to the legislative power.

Object Details

• Location: Deutsche Nationalbibliothek Frankfurt am Main
• Extent: Online-Ressource
• Language: Englisch

References and Relationships

• Bibliographic citation: The Power of Coordination and Deliberation ; volume:14 ; number:4 ; year:2023 ; pages:553-562 ; extent:10 ; Accounting, Economics, and Law ; 14, Heft 4 (2023), 553-562 (gesamt 10)

Contributors, Places and Time

• Creator: Monnet, Eric

Further information

• DOI: 10.1515/ael-2022-0114
• URN: urn:nbn:de:101:1-2411281448590.869802753260
• Rights: Open Access; Der Zugriff auf das Objekt ist unbeschränkt möglich.
• Last update: 15.08.2025, 7:30 AM CEST