Structural conservatism

An organizational structure (the framework around which a group is structured, a formal system of job relationship that harmonizes employees to achieve the goals: the rules, regulations and chain of authority that govern the functioning of any particular group) shows strong perservances and resists changes in well-rehearsed processes. – This is often said by some critics of central banks in general and the ECB in particular, especially in connection with the rotation principle. Sociologists also often attribute structural conservatism to banks as a whole. – However, this judgment is probably based on ignorance. After all, it is easy to prove that hardly any other sector of the economy has adapted as quickly to every new development – be it organizational or in terms of all kinds of changes in the market – as the financial sector in particular. Central banks and supervisory authorities have also not been structurally conservative in any way. However, the fact that best practices are successfully maintained is evidence of economic common sense and by no means of conservatism – see incrustations, structural.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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