Crash Course Economics

Central banking, Finance and Power with Benjamin Braun

June 22, 2020 Benjamin Braun Season 1 Episode 2
Crash Course Economics
Central banking, Finance and Power with Benjamin Braun
Chapters
0:00
Sara Murawski Introduction of Crash Course
2:04
Rodrigo Fernandez on series “Monetary policy, central banks and ideology”
3:15
Sara explains the set up of the seminar
4:17
Rodrigo introduces Benjamin Braun
6:03
Benjamin Braun starts presentation
9:29
Administrative versus market-based state agency
12:33
Infrastructural Entanglement and Power
15:32
Three types of financial-sector power
17:19
The political economy of infrastructural power
18:57
Historical examples of infrastructural power
23:05
Graphics of large scale asset purchases (2010-2020) by Fed, BoJ and ECB
28:34
Q&A: How does infrastructural power relate to the non-financial corporate world?
35:40
Q&A: What are backstops?
36:50
Q&A: Democratic control of central banks?
43:08
Q&A: Monetary financing prohibition
46:04
Q&A: Progressive to monetary financing?
48:24
Q&A: Targeting of asset prices
52:37
Q&A: Implications of Katherina Pistor’s Legal Theory of Finance
54:59
Q&A: EC Green deal agenda and taxonomy
57:05
Q&A: Legislative changes to limit infrastructural entanglement
59:40
Q&A: Democratic transparency and accountability of central banks?
Crash Course Economics
Central banking, Finance and Power with Benjamin Braun
Jun 22, 2020 Season 1 Episode 2
Benjamin Braun

Benjamin Braun speaks with Sara Murawski and Rodrigo Fernandez about central banking, finance and power, in the second webinar of Crash Course series on monetary policy, central banks and ideology.

What does the post-2007 web of interdependencies between monetary authorities, systemic banks and other leading financial actors look like? Why is this important to understand the prospects for change?

Responses by central banks, particularly the Fed, after the Covid-19 crash were decisive and strong – and prevented a meltdown. What are the likely distributional effects of this rescue operation in the longer term? Where are the politics in all of this?

How does ideology play a role in the ability to imagine a different monetary system?

Benjamin Braun (PhD) is a Senior Researcher at the Max Planck Institute for the Study of Societies in Cologne and a member of the School of Social Science at the Institute for Advanced Study, Princeton (2019–2020). His research focuses on the comparative and international political economy of financial and monetary systems and has been published, among others, in Economy and Society, Review of International Political Economy, and Socio-Economic Review. He tweets at @BJMbraun.

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About Crash Course Economics

Crash Course is a platform designed to open up debate on how we can move out of the current crisis and make the necessary steps towards achieving social, economic, ecological and regenerative justice.

Crash Course is inviting global experts to break down complex issues in lay terms and make them accessible to all so that we can understand how to shape our economic system for a just recovery and future.

Website: https://crashcourseeconomics.org/

Newsletter: https://crashcourseeconomics.us10.list-manage.com/subscribe?u=8367ecf9343da28ffa5d80d46&id=e197615bf5

YouTube: https://www.youtube.com/channel/UCu3cbKwed48Bu7dkQDVjRQA

Twitter: https://twitter.com/CrashEconomics

Show Notes Chapter Markers

Benjamin Braun speaks with Sara Murawski and Rodrigo Fernandez about central banking, finance and power, in the second webinar of Crash Course series on monetary policy, central banks and ideology.

What does the post-2007 web of interdependencies between monetary authorities, systemic banks and other leading financial actors look like? Why is this important to understand the prospects for change?

Responses by central banks, particularly the Fed, after the Covid-19 crash were decisive and strong – and prevented a meltdown. What are the likely distributional effects of this rescue operation in the longer term? Where are the politics in all of this?

How does ideology play a role in the ability to imagine a different monetary system?

Benjamin Braun (PhD) is a Senior Researcher at the Max Planck Institute for the Study of Societies in Cologne and a member of the School of Social Science at the Institute for Advanced Study, Princeton (2019–2020). His research focuses on the comparative and international political economy of financial and monetary systems and has been published, among others, in Economy and Society, Review of International Political Economy, and Socio-Economic Review. He tweets at @BJMbraun.

---


About Crash Course Economics

Crash Course is a platform designed to open up debate on how we can move out of the current crisis and make the necessary steps towards achieving social, economic, ecological and regenerative justice.

Crash Course is inviting global experts to break down complex issues in lay terms and make them accessible to all so that we can understand how to shape our economic system for a just recovery and future.

Website: https://crashcourseeconomics.org/

Newsletter: https://crashcourseeconomics.us10.list-manage.com/subscribe?u=8367ecf9343da28ffa5d80d46&id=e197615bf5

YouTube: https://www.youtube.com/channel/UCu3cbKwed48Bu7dkQDVjRQA

Twitter: https://twitter.com/CrashEconomics

Sara Murawski Introduction of Crash Course
Rodrigo Fernandez on series “Monetary policy, central banks and ideology”
Sara explains the set up of the seminar
Rodrigo introduces Benjamin Braun
Benjamin Braun starts presentation
Administrative versus market-based state agency
Infrastructural Entanglement and Power
Three types of financial-sector power
The political economy of infrastructural power
Historical examples of infrastructural power
Graphics of large scale asset purchases (2010-2020) by Fed, BoJ and ECB
Q&A: How does infrastructural power relate to the non-financial corporate world?
Q&A: What are backstops?
Q&A: Democratic control of central banks?
Q&A: Monetary financing prohibition
Q&A: Progressive to monetary financing?
Q&A: Targeting of asset prices
Q&A: Implications of Katherina Pistor’s Legal Theory of Finance
Q&A: EC Green deal agenda and taxonomy
Q&A: Legislative changes to limit infrastructural entanglement
Q&A: Democratic transparency and accountability of central banks?