Written By: Sumeet Dhatt
“[Leviathan] comes into being when its individual members renounce their powers to execute the laws of nature, each for himself, and promise to turn these powers over to the sovereign—which is created as a result of this act—and to obey thenceforth the laws made by this sovereign.” – Britannica on Thomas Hobbes’ Leviathan [4].
During the COVID-19 pandemic, the role of the central banks across the world, for instance, the United States Federal Reserve and Canada’s Bank of Canada, became increasingly relevant to all of our lives. Central Banks are a core aspect of our economy, as such it is important to not only know their role within our economy and how their decisions impact us today, but also how and why they became prominent in today’s modern economy.