Central Banks as Experts: What Can Social Epistemology Say?

Central banks are both regulatory and testimonial experts on the monetary economy. This paper deploys a procedural framework to assess whether laypeople should deem them worthy of their trust as testimonial experts. By focusing on three conditions for an effective error-correction mechanism, some worrisome characteristics of the expert community are identified. In short, we find that the interests of central banks in controlling the monetary economy – that is, in succeeding as regulatory experts – get in the way of their performance as detached testimonial experts.

Ce contenu a été mis à jour le 3 novembre 2017 à 11 h 27 min.