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On central bank independence and the public good

Summary:
The debate between Tom Palley and Steve Kamin on central bank independence and the several rescues of banks after financial crises, including the more recent rescue of the Silicon Valley Bank.[embedded content]Tom suggests that central banks are dominated by financial interests, and that this has been a problem. At the same time he avoids the libertarian notion of free banking, and suggests that a central bank at the service of public interest would require alternative views, I would directly say related to working class interests.

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The debate between Tom Palley and Steve Kamin on central bank independence and the several rescues of banks after financial crises, including the more recent rescue of the Silicon Valley Bank.

Tom suggests that central banks are dominated by financial interests, and that this has been a problem. At the same time he avoids the libertarian notion of free banking, and suggests that a central bank at the service of public interest would require alternative views, I would directly say related to working class interests.

Matias Vernengo
Econ Prof at @BucknellU Co-editor of ROKE & Co-Editor in Chief of the New Palgrave Dictionary of Economics

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