Populism And The Future Of The Fed

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Populism and the Future of the Fed

James A. Dorn
Populism and the Future of the Fed Book PDF

Author : James A. Dorn
Publisher : Cato Institute
Page : 316 pages
File Size : 46,5 Mb
Release : 2022-04-19
Category : Business & Economics
ISBN : 9781952223556

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Populism and the Future of the Fed by James A. Dorn Pdf

"This book brings together some of the greatest thought leaders and monetary policy scholars to examine how the Fed is being politicized and what that means for our economy." -Jeb Hensarling, Former Chairman, House Financial Services Committee The 2008 financial crisis and the Covid-19 pandemic greatly expanded the Fed's scope and power. Populism and the Future of the Fed features highly readable essays that avoid technical jargon and provide a broad perspective on core issues-including the populist challenge to Fed independence, fiscal dominance and the return of inflation, the limits of Fed power versus the expansion of its dual mandate, and the strange world of helicopter money and fiscal QE. One could argue that those who want the Fed to allocate credit, help fund a Green New Deal, engage in helicopter drops, and so on, are well intentioned. However, the real issue is whether such actions are consistent with long-run price stability and the rule of law. Thus, several questions come to mind. What are the limits to what the Fed can do and what it should do in a free society? Where do we draw the line between fiscal and monetary policy? Do we want an activist central bank with wide discretion or a limited central bank guided by a monetary rule? What are the risks populism poses for the conduct of monetary policy, Fed independence, and central bank credibility? And can the Fed control inflation if populism and fiscal QE become pervasive? The distinguished contributors to this volume address those questions in a clear and compelling manner that will help improve both policymakers' and the public's understanding of the complex relationship between politics, policy, and the rule of law.

The Federal Reserve and Its Founders

Richard A. Naclerio
The Federal Reserve and Its Founders Book PDF

Author : Richard A. Naclerio
Publisher : Agenda Publishing
Page : 226 pages
File Size : 42,5 Mb
Release : 2018
Category : Federal Reserve banks
ISBN : 1911116037

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The Federal Reserve and Its Founders by Richard A. Naclerio Pdf

Richard A. Naclerio investigates the events that surrounded the U.S. Federal Reserve's creation and the bankers, financiers, and economists who shaped its role over the next century. He sheds new light on the making of one of the world's most important financial institutions and how it came to have such crucial national and international influence.

Financialization and the Future of the American Economy

William K Tabb
Financialization and the Future of the American Economy Book PDF

Author : William K Tabb
Publisher : Taylor & Francis
Page : 212 pages
File Size : 44,7 Mb
Release : 2023-07-14
Category : Business & Economics
ISBN : 9781000912838

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Financialization and the Future of the American Economy by William K Tabb Pdf

Financialization is a set of processes which has led to a financially driven and commodified economy with rising inequality, tax avoidance, and a lack of investment in the physical and social infrastructure. Given the influence of money politics, and the secular increase in the burden of debt, financialization has produced a deeply flawed economic system which mainstream economists are unable to address. This book discusses the causes and costs of financial crises, how financialization produces inequality and instability, and the patterns of value extraction it enables. It draws on key theoretical traditions, most prominently the writing of Marx, Keynes, and Minsky that illuminate much that is ignored and rejected in mainstream theorizing, including by many who identify as Keynesians. After decades of low interest rates and years of quantitative easing (QE), keeping borrowing costs near zero, many borrowers – households, businesses, banks, shadow banks, and governments – will not be able to finance their debt at the higher interest rates initiated by central banks to address inflation. The resulting stagflation will be global, producing a severe downturn that may be postponed through still greater debt creation but not avoided by conventional means. The book also explores the ways that standard financial criteria contribute to the climate emergency and the manner in which the commodification of nature proceeds from the desire to create new, marketable derivative products. It concludes with a discussion of what needs to be done to move away from a harmful regime of accumulation premised on financialization and to adopt a far better one. This book is essential reading for anyone interested in the causes and consequences of financialization and its impact on the economy.

The Rise of Right-Wing Populist Parties and Reversal of Economic Reforms in Developing Democracies

Vineeta Yadav,Bumba Mukherjee
The Rise of Right Wing Populist Parties and Reversal of Economic Reforms in Developing Democracies Book PDF

Author : Vineeta Yadav,Bumba Mukherjee
Publisher : Lexington Books
Page : 271 pages
File Size : 52,7 Mb
Release : 2024-01-12
Category : Political Science
ISBN : 9781666924541

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The Rise of Right-Wing Populist Parties and Reversal of Economic Reforms in Developing Democracies by Vineeta Yadav,Bumba Mukherjee Pdf

When and why are right-wing populist parties electorally successful in developing democracies? What are the economic consequences of their electoral success? This book presents an original theoretical framework that is grounded in the socio-economic characteristics of developing countries to answer these questions and provides evidence for its theo

Meritocracy, Populism, and the Future of Democracy

David Stoesz
Meritocracy Populism and the Future of Democracy Book PDF

Author : David Stoesz
Publisher : Routledge
Page : 198 pages
File Size : 49,7 Mb
Release : 2022-05-11
Category : Political Science
ISBN : 9781000582147

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Meritocracy, Populism, and the Future of Democracy by David Stoesz Pdf

This book explores the fundamental shift that has occurred in America and Britain as elites accumulate unprecedented capital and influence and a meritocracy has emerged to manage national affairs, a change that means opportunity, affluence, and power have migrated away from most of the population. Arguing the following four points: Geography accounts for the accumulating influence of metropolitan regions, at the expense of smaller cities and rural communities of the heartland. Occupational groups, particularly lawyers, physicians, and financiers, have constructed professional cartels to secure rents at the expense of the prosperity of the public. Think tanks and universities have become the necessary pathways to attain leadership in public affairs. The internationalization of commerce has contributed to a parallel network of economic institutions and think tanks sharing ideas and personnel to lobby for policies favorable to their sponsors. Stoesz connects present and past to look at the progressive-era, the history of professions, and questions of welfare state reform, post-neoliberalism, and marketization. His book will be of great interest to students of sociology, political science, public administration, social policy, history, and economics. Scholars in think tanks and universities as well as political consultants will also find it invaluable.

Shock Values

Carola Binder
Shock Values Book PDF

Author : Carola Binder
Publisher : University of Chicago Press
Page : 355 pages
File Size : 46,6 Mb
Release : 2024
Category : Business & Economics
ISBN : 9780226833095

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Shock Values by Carola Binder Pdf

"How inflation fears shaped American society, then and now. For most of its history, the United States has benefited from price stability-a steady relationship between supply and demand, characterized by prices that don't inflate or deflate in unpredictable fashion. Across these long stretches, the US economy became famously free-market: prices did the job of stabilizing the economy so the government didn't have to. In this sweeping and revelatory history of American economy and democracy, Carola Conces Binder shows that American price-stability is no accident. From its colonial origins to today, the American state has been designed for, and continues to be shaped by, an unlimited effort to insulate the economy from the dangers of price fluctuations. Binder narrates an American history in which inflationary anxiety has informed everything from the reluctant establishment of paper money to the rise of the modern Federal Reserve as an omniscient actor in public policy. At every step, and with each historical brush with monetary instability, the US has been reinvented as a response to its most recent failings. Shock Values is the epochal history of the US as a monetary state. Binder recounts both the monetary interests at the dawn of the Republic; its decades-long experiments with price controls; the outsize role of agriculture and industry in its monetary apparatus; and how the rise of the all-powerful Federal Reserve was born out of crisis more than anything else. Expansive and erudite, Shock Values is a watershed telling of an old history: how American union's pledge to be more perfect was drawn along monetary lines. It is not to be missed"--

Currency Politics

Jeffry A. Frieden
Currency Politics Book PDF

Author : Jeffry A. Frieden
Publisher : Princeton University Press
Page : 316 pages
File Size : 50,7 Mb
Release : 2016-09-06
Category : Business & Economics
ISBN : 9780691173849

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Currency Politics by Jeffry A. Frieden Pdf

The politics surrounding exchange rate policies in the global economy The exchange rate is the most important price in any economy, since it affects all other prices. Exchange rates are set, either directly or indirectly, by government policy. Exchange rates are also central to the global economy, for they profoundly influence all international economic activity. Despite the critical role of exchange rate policy, there are few definitive explanations of why governments choose the currency policies they do. Filled with in-depth cases and examples, Currency Politics presents a comprehensive analysis of the politics surrounding exchange rates. Identifying the motivations for currency policy preferences on the part of industries seeking to influence politicians, Jeffry Frieden shows how each industry's characteristics—including its exposure to currency risk and the price effects of exchange rate movements—determine those preferences. Frieden evaluates the accuracy of his theoretical arguments in a variety of historical and geographical settings: he looks at the politics of the gold standard, particularly in the United States, and he examines the political economy of European monetary integration. He also analyzes the politics of Latin American currency policy over the past forty years, and focuses on the daunting currency crises that have frequently debilitated Latin American nations, including Mexico, Argentina, and Brazil. With an ambitious mix of narrative and statistical investigation, Currency Politics clarifies the political and economic determinants of exchange rate policies.

The Rise of Central Banks

Leon Wansleben
The Rise of Central Banks Book PDF

Author : Leon Wansleben
Publisher : Harvard University Press
Page : 353 pages
File Size : 55,5 Mb
Release : 2023-01-10
Category : Business & Economics
ISBN : 9780674287709

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The Rise of Central Banks by Leon Wansleben Pdf

A bold history of the rise of central banks, showing how institutions designed to steady the ship of global finance have instead become as destabilizing as they are dominant. While central banks have gained remarkable influence over the past fifty years, promising more stability, global finance has gone from crisis to crisis. How do we explain this development? Drawing on original sources ignored in previous research, The Rise of Central Banks offers a groundbreaking account of the origins and consequences of central banks’ increasing clout over economic policy. Many commentators argue that ideas drove change, indicating a shift in the 1970s from Keynesianism to monetarism, concerned with controlling inflation. Others point to the stagflation crises, which put capitalists and workers at loggerheads. Capitalists won, the story goes, then pushed deregulation and disinflation by redistributing power from elected governments to markets and central banks. Both approaches are helpful, but they share a weakness. Abstracting from the evolving practices of central banking, they provide inaccurate accounts of recent policy changes and fail to explain how we arrived at the current era of easy money and excessive finance. By comparing developments in the United States, the United Kingdom, Germany, and Switzerland, Leon Wansleben finds that central bankers’ own policy innovations were an important ingredient of change. These innovations allowed central bankers to use privileged relationships with expanding financial markets to govern the economy. But by relying on markets, central banks fostered excessive credit growth and cultivated an unsustainable version of capitalism. Through extensive archival work and numerous interviews, Wansleben sheds new light on the agency of bureaucrats and calls upon society and elected leaders to direct these actors’ efforts to more progressive goals.

Whiteshift

Eric Kaufmann
Whiteshift Book PDF

Author : Eric Kaufmann
Publisher : Abrams
Page : 814 pages
File Size : 53,9 Mb
Release : 2019-02-05
Category : Social Science
ISBN : 9781468316988

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Whiteshift by Eric Kaufmann Pdf

“This ambitious and provocative work . . . delves into white anxiety about the demographic decline of white populations in Western nations” (Publishers Weekly). “Whiteshift” is defined as the turbulent journey from a world of racially homogeneous white majorities to one of racially hybrid majorities. In this dada-driven study, political scientist Eric Kaufmann explores how these demographic changes across Western societies are transforming their politics. The early stages of this transformation have led to a populist disruption, tearing a path through the usual politics of left and right. If we want to avoid more radical political divisions, Kaufmann argues, we have to enable white conservatives as well as cosmopolitans to view whiteshift as a positive development. Kaufmann examines the evidence to explore ethnic change in North American and Western Europe. Tracing four ways of dealing with this transformation—fight, repress, flight, and join—he makes a persuasive call to move beyond empty talk about national identity. Deeply thought provoking, enriched with illustrative stories, and drawing on detailed and extraordinary survey, demographic, and electoral data, Whiteshift will redefine the way we discuss race in the twenty-first century.

Globalization: A Very Short Introduction

Manfred B. Steger
Globalization A Very Short Introduction Book PDF

Author : Manfred B. Steger
Publisher : Oxford University Press
Page : 185 pages
File Size : 45,7 Mb
Release : 2020-05-28
Category : Political Science
ISBN : 9780192589323

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Globalization: A Very Short Introduction by Manfred B. Steger Pdf

We live today in an interconnected world in which ordinary people can became instant online celebrities to fans thousands of miles away, in which religious leaders can influence millions globally, in which humans are altering the climate and environment, and in which complex social forces intersect across continents. This is globalization. In the fifth edition of his bestselling Very Short Introduction Manfred B. Steger considers the major dimensions of globalization: economic, political, cultural, ideological, and ecological. He looks at its causes and effects, and engages with the hotly contested question of whether globalization is, ultimately, a good or a bad thing. From climate change to the Ebola virus, Donald Trump to Twitter, trade wars to China's growing global profile, Steger explores today's unprecedented levels of planetary integration as well as the recent challenges posed by resurgent national populism. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.

The Rise of Populism

Stephen K. Bannon,David Frum
The Rise of Populism Book PDF

Author : Stephen K. Bannon,David Frum
Publisher : House of Anansi
Page : 144 pages
File Size : 49,6 Mb
Release : 2019-06-18
Category : Political Science
ISBN : 9781487006303

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The Rise of Populism by Stephen K. Bannon,David Frum Pdf

The twenty-third semi-annual Munk Debate, held on November 2, 2018, pits Stephen Bannon, the CEO of the Donald Trump presidential campaign, against columnist and author David Frum to debate the future of liberalism against the rising tide of populism. Throughout the Western world, politics is undergoing a sea-change. Long-held notions of the role of government, trade and economic policy, foreign policy, and immigration are being challenged by populist thinkers and movements. Does this surging populist agenda in Western nations signal a permanent shift in our politics? Or is it a passing phenomenon that will remain at the fringes of society and political power? Will our politics continue to be shaped by the post-war consensus on trade, inclusive national identity, and globalization, or by the agenda of insurgent populist politics, parties, and leaders? The twenty-third semi-annual Munk Debate pits former Donald Trump advisor Stephen K. Bannon against columnist and public intellectual David Frum to debate the future of the liberal political order.

Engine of Inequality

Karen Petrou
Engine of Inequality Book PDF

Author : Karen Petrou
Publisher : John Wiley & Sons
Page : 291 pages
File Size : 42,6 Mb
Release : 2021-03-03
Category : Business & Economics
ISBN : 9781119726746

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Engine of Inequality by Karen Petrou Pdf

The first book to reveal how the Federal Reserve holds the key to making us more economically equal, written by an author with unparalleled expertise in the real world of financial policy Following the 2008 financial crisis, the Federal Reserve’s monetary policy placed much greater focus on stabilizing the market than on helping struggling Americans. As a result, the richest Americans got a lot richer while the middle class shrank and economic and wealth inequality skyrocketed. In Engine of Inequality, Karen Petrou offers pragmatic solutions for creating more inclusive monetary policy and equality-enhancing financial regulation as quickly and painlessly as possible. Karen Petrou is a leading financial-policy analyst and consultant with unrivaled knowledge of what drives the decisions of federal officials and how big banks respond to financial policy in the real world. Instead of proposing legislation that would never pass Congress, the author provides an insider's look at politically plausible, high-impact financial policy fixes that will radically shift the equality balance. Offering an innovative, powerful, and highly practical solution for immediately turning around the enormous nationwide problem of economic inequality, this groundbreaking book: Presents practical ways America can and should tackle economic inequality with fast-acting results Provides revealing examples of exactly how bad economic inequality in America has become no matter how hard we all work Demonstrates that increasing inequality is disastrous for long-term economic growth, political action, and even personal happiness Explains why your bank's interest rates are still only a fraction of what they were even though the rich are getting richer than ever, faster than ever Reveals the dangers of FinTech and BigTech companies taking over banking Shows how Facebook wants to control even the dollars in your wallet Discusses who shares the blame for our economic inequality, including the Fed, regulators, Congress, and even economists Engine of Inequality: The Fed and the Future of Wealth in America should be required reading for leaders, policymakers, regulators, media professionals, and all Americans wanting to ensure that the nation’s financial policy will be a force for promoting economic equality.

The Limousine Liberal

Steve Fraser
The Limousine Liberal Book PDF

Author : Steve Fraser
Publisher : Basic Books
Page : 304 pages
File Size : 53,7 Mb
Release : 2016-05-10
Category : Political Science
ISBN : 9780465097661

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The Limousine Liberal by Steve Fraser Pdf

No political image in recent American history has enjoyed the impact of the "limousine liberal." It has managed to mobilize an enduring politics of resentment directed against everything from civil rights to women's liberation, from the war on poverty to environmental regulation. Coined in 1969 by New York City mayoralty candidate Mario Procaccino, the term took aim at what he and his largely white lower middle class and blue collar following considered the repellent hypocrisy of well-heeled types who championed the cause of the poor, especially the black poor, but who had no intention of bearing the costs of their plight. The metaphor zeroed in on liberal elites who preferred to upset rather than defend the status quo not only in race relations, but in the sexual, moral, and religious order and had little interest in looking after the needs of working people. In The Limousine Liberal, the acclaimed historian Steve Fraser argues that it is impossible to understand American politics without coming to grips with this image, where it originated, why it persists, and where it may be taking us. He reveals that the limousine liberal had existed in all but name long before Procaccino gave it one. From Henry Ford decrying an improbable alliance of Jews, bankers, and Bolsheviks in the 1920s to the Tea Party's vehement hatred of Hillary Clinton, the fear of the limousine liberal has stoked right-wing populism for nearly a century. Today it fuses together disparate elements of the conservative movement. Sunbelt entrepreneurs on the rise, blue collar ethnics and middle classes in decline, heartland evangelicals, and billionaire business dynasts have found common cause, despite their real differences, in shared opposition to liberal elites. The Limousine Liberal tells an extraordinary story of why the most privileged and powerful elements of American society were indicted as subversives and reveals the reality that undergirds that myth. It goes to the heart of the great political transformation of the postwar era: the rise of the conservative right and the unmaking of the liberal consensus.

Global Capitalism

Jeffry A. Frieden
Global Capitalism Book PDF

Author : Jeffry A. Frieden
Publisher : W. W. Norton & Company
Page : 807 pages
File Size : 52,7 Mb
Release : 2020-07-21
Category : Business & Economics
ISBN : 9781324004202

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Global Capitalism by Jeffry A. Frieden Pdf

"One of the most comprehensive histories of modern capitalism yet written." —Michael Hirsh, New York Times An authoritative, insightful, and highly readable history of the twentieth-century global economy, updated with a new chapter on the early decades of the new century. Global Capitalism guides the reader from the globalization of the early twentieth century and its swift collapse in the crises of 1914–45, to the return to global integration at the end of the century, and the subsequent retreat in the wake of the financial crisis of 2008.

Global Trends 2040

National Intelligence Council
Global Trends 2040 Book PDF

Author : National Intelligence Council
Publisher : Cosimo Reports
Page : 158 pages
File Size : 52,9 Mb
Release : 2021-03
Category : Electronic
ISBN : 1646794974

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Global Trends 2040 by National Intelligence Council Pdf

"The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.