Former central banker Paul Tucker is the chair of the Systemic Risk Council, a Fellow at the Harvard Kennedy School, and author of Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State. 

LONG BIO

The Geopolitics of the International Monetary and Financial System

 Tacitus Lecture, Worshipful Company of World Traders, London

As Tacitus says in the Histories, peace depends on armies, but troops need paying, and that requires taxation. He might have added that taxation is umbilically tied to state money, and that if a sovereign’s money is used abroad as well as at home, their hard power is supplemented by symbolic power. This is highly germane to the geopolitics of today’s international monetary order, and I shall return to it in my conclusion.

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