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Article Dans Une Revue Accounting, Economics and Law: A convivium Année : 2023

The Power of Coordination and Deliberation

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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.

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Eric Monnet. The Power of Coordination and Deliberation. Accounting, Economics and Law: A convivium, In press, ⟨10.1515/ael-2022-0114⟩. ⟨halshs-03974907⟩
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