Project description
Exploring the role of central banks in a just economy
The current financial and ecological crises underscore the critical need to scrutinise central banks as both contributors to harm and as potential agents of justice. With the support of the Marie Skłodowska-Curie Actions programme, the JUSTCB project will explore the potential of central banks in fostering a more equitable and sustainable economy. It aims to identify shortcomings in existing central banking practices and propose reforms aimed at enhancing their equity and sustainability. By developing a comprehensive theory capable of addressing the diverse impacts (positive and negative) of central banking, the project seeks to offer insights into the ethical responsibilities of central banks and advocate for necessary reforms in their practices.
Objective
The recent financial crisis, and the ongoing ecological crisis, call for an urgent examination of the central banks’ place in society, both as a cause of harm and as a potential agent of justice. The central aim of this project is to determine what role central banks can play in the transition towards a more just and sustainable economy.
First, this project will attempt to uncover what, if anything, is wrong with current central banking practices. The financial ethics literature is divided on whether their core problem is their lack of legitimacy, or their negative effects on justice and environmental sustainability. The first part of the project aims to show that all these problems stem from the unfair and inefficient division of political and epistemic labor between states, central banks, and commercial banks.
Second, this project will delineate and defend potential reforms, which are able to improve the fairness and sustainability of central bank’s practices. The project will focus on new monetary policy instruments that central banks could use to target firms, banks, and citizens more directly. It will investigate how these policy tools can achieve a fairer balance of power between central banks, states, and commercial banks.
In sum, by producing a unified theory that is able to account for the diversity of harms and benefits of central banking, this project aims to provide guidance on the ethical role of central banks and the necessary reforms of central banking.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
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Keywords
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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HORIZON.1.2 - Marie Skłodowska-Curie Actions (MSCA)
MAIN PROGRAMME
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
HORIZON-TMA-MSCA-PF-EF - HORIZON TMA MSCA Postdoctoral Fellowships - European Fellowships
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) HORIZON-MSCA-2023-PF-01
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
9220 Aalborg
Denmark
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.