Our recent book Do Central Banks Serve the People? sheds a critical light on the actions of central banks in the wake of the 2007 financial crisis. Using the US Federal Reserve, the European Central Bank, and the Bank of England as examples, we show how they have stretched their mandate beyond their traditional tasks of price stability and financial stability. This short introduction to the book summarizes the argument that the expanded role of central banks has three serious drawbacks.
Category: Economics (Page 1 of 6)
While Justice Everywhere takes a break over the summer, we recall from our archives some of our memorable posts from 2017-2018.
Here are three good reads on issues commonly associated with left-wing politics that you may have missed or be interested to re-read:
Lisa Herzog’s interview with Isabelle Ferreras on ‘Workplace Democracy‘
Lasse Nielsen’s ‘Sufficiency on Political Inequality‘
Miriam Ronzoni’s ‘On Striking as a Privilege‘
Last year, Kevin C. Elliott published three new books on ‘values in science’:
Given that empirical research is often used by moral, social, and political philosophers in scholarship on questions of justice, we thought it would be interesting to chat to Kevin about his recent work and its implications for moral, social, and political philosophy.
This is an interview with Isabelle Ferreras, who has just published a book on workplace democracy – to my knowledge, it’s the most detailed argument and proposal for a specific form of workplace democracy that has been provided in recent years. To get a sense of what it is all about, check out the animated trailer at www.firmsaspoliticalentities.net. We asked Isabelle to tell us more about her book, and we are very happy that she immediately agreed to do so.
Q: How did you get interested in the topic of workplace democracy?
Recently, there have been increasing worries about the role of private money that funds libertarian political philosophy (see e.g. here or here). The role of private money in academic research is not precisely a new problem; it has plagued other fields for decades (see e.g. here for a study of some of the more problematic forms). But it seems to be rather new for political philosophy, or at least it seems to have gone to levels it has not had in the recent past. But what exactly is wrong with it? Isn’t it simply an exercise of freedom of expression to use one’s money to sponsor scholarship one is interested in?
If you consider yourself a political philosopher, it seems that you must be doing political philosophy. What does this political constraint imply? To me, it does certainly not imply that you are not allowed to used farfetched hypothetical thought-experiments, or that you take a specific stand on ideal contra non-ideal theory. Nor does it imply that it is morally impermissible for us to raise certain philosophical questions, if we foresee a reasonable chance that answering these questions could make the world worse or more unjust, as some activists claim. What it implies is that you should acknowledge the political relevance of your philosophical work, and that you have a commitment to make this relevance explicit.
For an excellent example, see Lisa Herzog’s recent post on the blog. But I wish here to briefly present an analysis of my own on the reasons for concern with political inequality (“What is Our Real Concern with Real Inequality?”, Policy Studies Journal).
There is currently a lot of attention on the UK’s “housing crisis”. One issue here is the quantity of available housing. There are commitments to address the shortage of housing in the 2017 manifestos of both the Labour Party and the Conservative Party. Another issue is the quality of housing. On this issue, the Labour Party have restated the commitment they made in a 2015 Homes Bill to require that all homes meet the standard of being “fit for human habitation”. In this post, I explore the reasons in favour of this commitment.
Have a few thousand bankers made the world more equal than it had been for a hundred years? In this blog post, I will investigate the distributive impact of the 2008 financial crisis and show that today’s inequalities are more complex than we think: if political philosophers want to understand the repercussions of the crash, they need to team up with economists and track down the hidden divides in post-crisis societies.
It was on 14 September 2007 that the general public first noticed that something was wrong. Hundreds of desperate customers queued in front of the branches of mortgage lender Northern Rock, fearing that their savings were already gone.
While Justice Everywhere takes a break over the summer, we recall from our archives some of our memorable posts from 2016-2017.
Here are four good reads in economic ethics that you may have missed or be interested to re-read:
Anca Gheaus’ ‘There is too much division of labour‘
James Hickson’s ‘Freedom for Uber Drivers‘
Mirjam Muller’s ‘Are Sweatshops Drivers for Gender Equality?‘
… and why Schulz could be the one
Saying that the right thing to do is for Germany to show more solidarity towards the European South is hardly news. But how can this be achieved in times of populism? In spite of the odds, Martin Schulz (the Chancellor candidate of the SPD) could play a surprisingly refreshing role in this respect.