2 thoughts on “How independent are central banks?”

  1. Posted 01/06/2013 at 19:54 | Permalink

    As Hayek wrote in “The Denationalisation of Money”: “The past instability of the market economy is the consequence of the exclusion of the most important regulator of the market mechanism, money, from itself being regulated by the market process”.

  2. Posted 19/06/2013 at 13:29 | Permalink

    It is an interesting quirk in the system that whilst capitalist economics promotes competition in every market as a route to efficiency, central banks operate under pure monopolies. This was discussed when I attended a prominent debate involving Stephen D. King – a leading bristish economist. You can see more here;


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