Events

Unelected Power: the quest for legitimacy in central banking and the regulatory state

Hosted by the Financial Markets Group and Systemic Risk Centre

Old Theatre, Old Building

Speaker

Paul Tucker

Paul Tucker

Chair

Professor Charles Goodhart

Central bankers pull the levers of our economic well-being. In this lecture Paul Tucker explains how to ensure agents of the administrative state remain stewards of the common good.

Central bankers have emerged from the financial crisis as the third great pillar of unelected power alongside the judiciary and the military. They pull the regulatory and financial levers of our economic well-being, yet unlike democratically elected leaders, their power does not come directly from the people. In his new book, Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State, Paul Tucker lays out the principles needed to ensure that central bankers, technocrats, regulators, and other agents of the administrative state remain stewards of the common good and do not become overmighty citizens.  He draws on a wealth of personal experience from his many years in domestic and international policymaking to tackle the big issues raised by unelected power, and enriches his discussion with examples from the United States, Britain, France, Germany, and the European Union.

Paul Tucker is a fellow at the Harvard Kennedy School and chair of the Systemic Risk Council. Previously, he was Deputy Governor at the Bank of England, sitting on its monetary policy, financial stability, and prudential policy committees. Internationally, he was a member of the G20 Financial Stability Board, leading its work on too big to fail; a director of the Bank for International Settlements, and chair of its Committee for Payment and Settlement Systems. 

Charles Goodhart Emeritus Professor of Banking and Finance, FMG, LSE. 

The Financial Markets Group Research Centre (@FMG_LSE)  was established in 1987 at the LSE. The FMG is a leading centre in Europe for policy research into financial markets. 

The Systemic Risk Centre (@LSE_SRC) was set up to study the risks that may trigger the next financial crisis and to develop tools to help policymakers and financial institutions become better prepared.

Twitter Hashtag for this event: #LSETucker

Podcast 

A podcast of this event is available to download from Unelected Power: the quest for legitimacy in central banking and the regulatory state

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CPD

This event has been certified for CPD purposes by the CPD Certification Service. Self-Assessment Record forms will be made available for delegates wishing to record further learning and knowledge enhancement for Continuing Personal and Professional Development (CPD) purposes. For delegates who wish to obtain a CPD Certificate of Attendance, it is the responsibility of delegates to register their details with a LSE steward at the end of the event and as of 1 September 2014 a certificate will be sent within 28 days of the date of the event attended by the CPD Certification Service.  If a delegate fails to register their details at the event, it will not prove possible to issue a certificate. (For queries relating to CPD Certificates of attendance after a request please phone 0208 840 4383 or email info@cpduk.co.uk).
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