Money as a democratic project must engage with received economic thinking that underpins money creation and central banking design and practice. This thinking supports limiting the overt politics of the governance of money in the interest of reducing the information content of money instruments. Although mapping the political nature of money may be disruptive, the alternative of hiding the political nature of money and monetary policy to preserve the information insensitivity of money instruments is unsustainable. If financial crises cause money instruments to lose information insensitivity, they also strip the technocratic veil.
Anna Gelpern – Georgetown University Law Center
Erik Gerding – University of Colorado Law School