Central banks are leaving the neoliberalism

The concept of central bank autonomy refers to the ability of central banks to make their own decisions without direct intervention from the government or any political party. The main goal of this autonomy is to maintain price stability and control inflation sustainably, as it is believed that economic decisions made by the Central Bank should be based on long-term economic analysis rather than being influenced by short-term political pressures.

Since the global financial crisis began in 2008, there have been fundamental changes around the world in the concept of central bank autonomy, which has shifted from the "broad legal concept" in the booming era of neoliberalism aimed only at inflation to the "narrow concept of independence", a concept that requires the addition or activation of new objectives to the central bank's functioning that are the developmental dimension of central banking and its monetary policies.

The Road to Freed Economics and the Good Society By Joseph E. Stiglit

He stands strongly alongside John Maynard Keynes, calling for increased (state intervention in the economy) to generate economic prosperity, and responding to the current of conservative economists such as Milton Friedman's book Capitalism and Freedom (1962) followed by a generation of people, and Hayek's classic book The Road to Slavery (1944) where Stiglitz went with his book The Road to Freedom towards saving the idea of freedom itself from the version of the superficial, misleading and profitable ideologies it promotes.

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The central banks are leaving the new liberalism