Monetary policy, uneven development, and accounting for spatial justice

Dan Cohen, Cameron Graham and Yongqi Ke

Chapter 9 in Central Banking, Monetary Policy and the Common Good, 2026, pp 167-191 from Edward Elgar Publishing

Abstract: This chapter takes up the question of the common good of monetary policy through an examination of how contemporary central banks advance spatial justice and injustice. First, we introduce the concept of the geographic imaginary and highlight how monetary policymakers perceive national economies as homogeneous, flat terrains rather than differentiated landscapes shaped by variegated geographies. We then highlight how processes of uneven development produce consistent differences in regional economies and what this means for attempts to achieve spatial justice, defined as equality in the distribution of infrastructure and opportunities across geographies. Finally, we explore how the technical calculations that underpin monetary policy decision-making are accountable, or more commonly unaccountable, for spatial justice within the economy.

Keywords: Accountability; Geographic imaginaries; Monetary policy; Spatial justice; Uneven development (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035348299
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