Jsou centrální banky za zenitem své slávy? – Janáček Kamil (2020)

The new book Are Central Banks Past Their Prime? by the prominent Czech economist Kamil Janáček is a personal account from the author, who, before his recent return to academia, held positions since the early 1990s as an advisor to the governor of the central bank, deputy minister, chief economist of a significant commercial bank, and later as a member of the Bank Board of the Czech National Bank. "The powers and significance of central banks may lead to the conclusion – and we often encounter this opinion – that these institutions are now at the peak of their glory and play a crucial role in influencing the economies of individual countries or their groupings. However, the events of the last two decades warrant the question posed in the title of this study: Are central banks already past their prime? And if so, why? This question is very important also because central banks fundamentally influence the 'blood circulation' of the market economy, and thus money." The author writes and asks in the introduction to his publication on central banks, which he analyzes on the eve of the onset of the coronavirus crisis. This crisis further emphasized all the problematic phenomena of central banking. The author responds to this in the conclusion of the book with a "Coronavirus Appendix."