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

By Paul Tucker
Recommended by
"Unelected Power" by Paul Tucker provides a compelling analysis of the growing influence and authority of independent regulatory agencies in modern democracies. Tucker, a former deputy governor of the Bank of England, delves into the complex and often misunderstood realm of unelected power, examining the challenges it poses to democratic governance and the delicate balance that must be struck.

Tucker explores how unelected agencies, such as central banks and regulatory bodies, have been granted substantial control over economic and social policies, often surpassing that of elected officials. Drawing on his deep understanding of monetary policy and financial stability, he explains the rationale behind delegating certain powers to independent experts and how this can improve decision-making and policy outcomes.

However, Tucker also highlights the potential risks and drawbacks of unelected power, emphasizing the need for proper accountability, transparency, and limits on regulatory discretion. He argues for a reevaluation of the delegation of power and offers thought-provoking suggestions for making unelected agencies more accessible and accountable to democratic institutions and public scrutiny.

With a clear and engaging writing style, "Unelected Power" presents a thought-provoking examination of the mechanisms and implications of unelected agencies in shaping policy outcomes. This book is an invaluable resource for policymakers, scholars, and citizens interested in understanding the intricate relationship between democratic governance and the exercise of unelected power.
Share This Book 📚