Central banking in a democracy : the Federal Reserve and its alternatives /
The Federal Reserve System, which has been Congress's agent for the control of money since 1913, has a mixed reputation. Its errors have been huge. It was the principal cause of the Great Depression of the 1930s and the inflation of the 1970s, and participated in the massive bailouts of financi...
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| Format: | eBook |
| Language: | English |
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New York :
Routledge,
2015.
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| Series: | Routledge explorations in economic history ;
69. |
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| Online Access: | Connect to the full text of this electronic book |
Table of Contents:
- 1 Introduction; 2 Early central banks; The gold standard and the Bank of England, 1694-1914; The first Bank of the United States, 1791-1811; The second Bank of the United States, 1816-36; 3 Central banking in the United States, 1847-1913; The Independent Treasury, 1847-1913; Money centers and clearing houses, 1853-1913; The National Banking System, 1863- 61; 4 The Federal Reserve System, 1913-51; Founding; Outlook for the new institution
- Early years, 1913-22; The "high tide" of the Fed, 1923-8; The Great Depression, 1929-33; Treasury control, 1933-51; 5 The Federal Reserve System, 1951-99; From the Accord to Operation Twist, 1951-64; Increasing inflationary pressures, 1965-79; Almost price stability, 1979-99; 6 The Great Recession; Boom and bust; The course of Federal Reserve policy; A report card; Comparisons with the Great Depression; 7 Bank regulation; Before the Fed; Enter the Fed; Dodd-Frank; Summary; 8 Conclusion: the necessity and possibility of replacing the Fed; Responsibilities and methods of monetary policy
- Monetary institutions and incentives; Responsible monetary policy; Must we change our monetary authority?; Is Congress up to the job?; Appendix: a free resumption of gold money; References; Index