Show Summary Details

Page of

PRINTED FROM OXFORD HANDBOOKS ONLINE ( © Oxford University Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a title in Oxford Handbooks Online for personal use (for details see Privacy Policy and Legal Notice).

date: 26 February 2021

Abstract and Keywords

This article explores the application of technical rationality to the control of the money supply. It argues, on the one hand, that developed economies, like the United States, have moved inexorably toward greater control of the money supply by technocrats. On the other hand, we are struck by the dangers of that technocratic control. A technical elite, with significant autonomy from oversight, has interpretive techniques of considerable power. In the end, the Fed's performance in October 1979 can be seen as a brilliant piece of political theatre. But, as in the recent financial crisis, the performance is not always going to be reviewed so admiringly.

Keywords: central banking, technical rationality, money supply, monetary policy, technocrats, Federal Reserve

Access to the complete content on Oxford Handbooks Online requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription.

Please subscribe or login to access full text content.

If you have purchased a print title that contains an access token, please see the token for information about how to register your code.

For questions on access or troubleshooting, please check our FAQs, and if you can''t find the answer there, please contact us.