Pop Goes “Independent” Central Bankers?

Central banks have, it is claimed, played an integral role in the evolution of modern economies. Initially, central banks were closely tied to governments. Their independence became a formalized goal in the late 20th century, especially post-1970s inflation crises. However, critics argue this independence is often more theoretical than practical. Actually, The global trend toward independence, while not without critics, if often cited as a cornerstone of macroeconomic stability for the last four decades. I have my doubts about that given they are run by technocrats with a neoliberal bias, and economic assumptions, with a blind spot relating the private […]