Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State

How central banks and independent regulators can support rather than challenge constitutional democracy

Unelected Power lays out the principles needed to ensure that central bankers and other independent regulators act as stewards of the common good. Blending economics, political theory, and public law, this critically important book explores the necessary conditions for delegated but politically insulated power to be legitimate in the eyes of constitutional democracy and the rule of law. It...