JOURNAL ARTICLE

Central bank capitalism: monetary policy in times of crisis.

  • Published In: International Affairs, 2025, v. 101, n. 3. P. 1149 1 of 3

  • Database: Academic Search Ultimate 2 of 3

  • Authored By: Zucker, Samuel 3 of 3

Abstract

The article discusses the central theme of Joscha Wullweber's book, "Central Bank Capitalism," which posits that central banks have expanded their authority in response to financial crises, particularly during the 2007–8 and 2020 crises. Wullweber argues that while central banks are essential for stabilizing the financial system and supporting shadow banks, this reliance fosters excessive risk-taking and reinforces their importance. The book critiques the prevailing 'market liberal' paradigm, advocating for a shift towards recognizing central banks' connection to the state and their potential role in fiscal policy. Overall, it serves as an informative introduction to the evolving role of central banks in contemporary finance. [Extracted from the article]

Additional Information

  • Source:International Affairs. 2025/05, Vol. 101, Issue 3, p1149
  • Document Type:Article
  • Subject Area:History
  • Publication Date:2025
  • ISSN:0020-5850
  • DOI:10.1093/ia/iiaf085
  • Accession Number:185321168
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