Jens van ‘t Klooster is Assistant Professor of Political Economy at the Department of Political Science of the University of Amsterdam. His research focuses on the governance of the financial system and its environmental impact.

May 27, 2023


Pecuniary Salvation

Monetary financing at the Bank of England, the Federal Reserve, and the European Central Bank

Monetary financing—the issuance of public money to support public expenditure—has in recent times become a policy taboo. The message from economists to politicians, policymakers, and society more broadly is often that any central bank support for public expenditure is likely to destroy…