Experts and Democratic Legitimacy by Eva Krick & Cathrine Holst

Author:Eva Krick & Cathrine Holst [Krick, Eva & Holst, Cathrine]
Language: eng
Format: epub
ISBN: 9781032085500
Google: PmRmzgEACAAJ
Amazon: B088Y6DVZF
Barnesnoble: B088Y6DVZF
Goodreads: 57466855
Publisher: Taylor & Francis
Published: 2021-06-30T00:00:00+00:00

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This is an Open Access article distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives License (http://creativecommons.org/licenses/by-nc-nd/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is properly cited, and is not altered, transformed, or built upon in any way.

No epistocracy without representation? The case of the European Central Bank

Christopher Lord

ABSTRACT

I argue the European Central Bank shows how mutually defining are i) the epistemic assumptions of independent central banking; ii) the powers of a central bank; iii) the political order in which it operates and iv) representative claims. I identify three ‘representative turns’ whose effects have cumulated over the history of the ECB: the first towards including representative claims in justifications for independent central banking; the second, towards a monetary dialogue between the ECB and the European Parliament; the third, towards providing the ECB with some means of discussing with parliaments how it should act in emergencies.

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