Unelected Power: the quest for legitimacy in central banking and the regulatory state [Audio]

Speaker(s): Paul Tucker | Central bankers pull the levers of our economic well-being. In this lecture Paul Tucker explains how to ensure agents of the administrative state remain stewards of the common good. Central bankers have emerged from the financial crisis as the third great pillar of unelected power alongside the judiciary and the military. They pull the regulatory and financial levers of our economic well-being, yet unlike democratically elected leaders, their power does not come directly from the people. In his new book, Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State, Paul Tucker lays out the principles needed to ensure that central bankers, technocrats, regulators, and other agents of the administrative state remain stewards of the common good and do not become overmighty citizens. He draws on a wealth of personal experience from his many years in domestic and international policymaking to tackle the big issues raised by unelected power