Central Banks, Technology, and the End of Democracy
Fonte: Banco Central do Brasil Paradoxically, the disbelief in Central Banks during the financial crisis of 2007-2008 led these institutions to seek independence in search of more powers and found in information technology the adequate path for this purpose which, for many researchers, may be the end of democracy . To law professor, Lev Menand, from Columbia Law School, in the United States, the American Central Bank, the so-called Federal Reserve (Fed) in the last 15 years has been putting the project of the United States at risk. With intervention in public policies and economic life, the Fed encourages the financial market to the detriment of the productive economy, increasing inequalities and accentuating the wealth gap. Finally, the Fed is now the most powerful institution in the United States, but in need of deep reforms. Professor Lev Menand, an economist and former adviser to the Secretary of the US Treasury, points to the risks f