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Central banking, technocratic governance and the financial Crisis. placing quantitative easing into question
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Gane, Nicholas (2015) Central banking, technocratic governance and the financial Crisis. placing quantitative easing into question. Sosiologia, 52 (4). pp. 381-396. ISSN 0038-1640.
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Official URL: http://www.sosiologia.fi/abstracts/abstraktit2015....
Abstract
This paper advances a sociological analysis of one of the key monetary responses to the recent financial crisis: quantitative easing. First, it provides a brief history and overview of the operation of quantitative easing. Second, it examines the neoliberal basis of this monetary policy by analysing its institutional design and looking, in brief, at the post-crisis relationship between the Bank of England and the UK Treasury. Third, it places into question the relationship between quantitative easing and social inequality. Fourth, it uses the work of Hyman Minsky to address the broader role of central banks in the face of financial crisis. In conclusion, it is argued that it is necessary to engage critically with initiatives such as quantitative easing rather than to describe and document the social inequalities they both generate and help reproduce.
Item Type: | Journal Article | ||||||
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Divisions: | Faculty of Social Sciences > Sociology | ||||||
Journal or Publication Title: | Sosiologia | ||||||
Publisher: | Westermarck-Seura,Westermarck Society, The Finnish Sociological Association | ||||||
ISSN: | 0038-1640 | ||||||
Official Date: | 2015 | ||||||
Dates: |
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Volume: | 52 | ||||||
Number: | 4 | ||||||
Page Range: | pp. 381-396 | ||||||
Status: | Peer Reviewed | ||||||
Publication Status: | Published | ||||||
Access rights to Published version: | Restricted or Subscription Access | ||||||
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