MONETARY POLICY, CENTRAL BANKING AND POVERTY: A LONG-RUN ECONOMIC HISTORY PERSPECTIVE
PARA POLİTİKASI, MERKEZ BANKACILIĞI VE YOKSULLUK: UZUN DÖNEMLİ BİR İKTİSAT TARİHİ ANALİZİ
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https://doi.org/10.5281/zenodo.18183475Keywords:
Monetary Policy, Central Banking, Poverty, Economic HistoryAbstract
This article examines the historical evolution of monetary policy and central banking in relation to poverty, offering a long-run economic history perspective. The transformation of monetary regimes, fiscal needs of states, financial crises, the gold standard, wartime economies, the Bretton Woods system, and neoliberal financialization are analyzed as key factors shaping both the form and depth of poverty. The study focuses on three major historical periods: early monetary regimes, the rise of classical central banking, and the modern era of financialization. Findings indicate that monetary policy is not merely a technical instrument but is deeply embedded in social power relations and institutional evolution. The historical production and reproduction of poverty are discussed through the societal consequences of monetary policy decisions. The article contributes to rethinking the historical role of central banking and reassessing its relationship with poverty within a broader institutional framework.
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