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.
Author: Peter Dietsch
Peter Dietsch is a philosopher and economist, and professor in the Department of Philosophy at the University of Victoria, British Columbia. His research focuses on issues of economic ethics, notably on tax justice, normative dimensions of monetary policy, and on income inequalities. Dietsch is the author of Catching Capital – The Ethics of Tax Competition (Oxford University Press, 2015), co-author of Do Central Banks Serve the People? (Polity Press, 2018), and co-editor of Global Tax Governance – What is Wrong with It and How to Fix It (ECPR Press, 2016). He has published numerous articles and book chapters, and is a regular contributor in the media on debates in his field. In 2017, Dietsch was nominated to the College of New Scholars, Artists and Scientists of the Royal Society of Canada. Dietsch has held visiting positions at the Wissenschaftszentrum Berlin (on a Humboldt fellowship), at the European University Institute in Florence, and at the University of Victoria, British Columbia.