"I don't think it would be right for monetary policy to fill other institutions' lack of action".
Just last week, it declined to lower interest rates — in no small part, said its president, Mario Draghi, because "I don't think it would be right for monetary policy to fill other institutions' lack of action".
Mr. Draghi, for his part, has sternly said, "It is not right for monetary policy to fill other institutions' lack of action," a reference to the urgent need for Europe's leaders to resolve the euro crisis.
Hopes that the European Central Bank would ride to the rescue, as it did with two waves of generous loans to Europe's banks in December and March, or at the very least cut interest rates, now at 1 percent, were dashed when the bank's president, Mario Draghi, said Wednesday that he did not "think it would be right for monetary policy to fill other institutions' lack of action".
His writings address topics ranging from economic and military policy, through the justification of traditional authority and institutions, to action theory and the philosophy of language.
Management claims that if a male teacher fathers a child outside the institution of marriage, similar action would be taken.
With fiscal stimulus off the table and Republicans gambling that continued economic stagnation will hurt Democrats more than them, the Federal Reserve is the only institution with the freedom of action and power to stimulate growth.
The history of moral theory is a history of attempts to identify, articulate, and defend general moral principles that serve to explain when and why various types of action, institutions, or characters count as right or wrong, just or unjust, virtuous or vicious.
Specifically, it is to express the belief that some course of action, or institution, or character trait had the property of being right, or good, or virtuous.
Far from a replacement for states, the European Union rather "pools" important aspects of their sovereignty into a "supranational" institution in which their freedom of action is constrained (Keohane & Hoffman 1991).
The "fear of litigation" is possibly the strongest motivation there is when any individual or institution decides on a course of action.
