The Monetary Causes of the Debt Crisis

On February 22, 2012, in economic theory, monetary policy, by Jon Lewis

Philip Coggan. Paper Promises: Debt, Money, and the New World Order. Public Affairs, 2012, pp. 294, $27.99 What is money? At first, it sounds like a simple question. But, as this thoughtful new book makes abundantly clear, the definitions of what money is, and what it should be in the future, are far more complex [...]

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A Plan to Restore American Prosperity

On February 8, 2012, in economic theory, Federal Reserve, monetary policy, by Jon Lewis

First Principles: Five Keys to Restoring America’s Prosperity. John B. Taylor. W.W. Norton & Company 2012, pp. 235, $24.95 Unless something dramatic happens in the Persian Gulf, this year’s presidential election could very well hinge on the unemployment rate in November 2012. While January’s unemployment numbers had to have been somewhat encouraging for the White [...]

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The Dollar Abides

On January 28, 2012, in Federal Reserve, monetary policy, by Jon Lewis

Exorbitant Privilege: The Rise and Fall of the Dollar and the Future of the International Monetary System. Barry Eichengreen. Oxford University Press 2011, pp. 215, $27.95 The Great Recession, precipitated in part by excessively low interest rates in the early 2000s, has caused more Americans to pay attention to monetary policy than they have in [...]

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The Banking Dead

On January 10, 2012, in banking, Federal Reserve, monetary policy, moral hazard, by Jon Lewis

Zombie Banks: How Broken Banks And Debtor Nations Are Crippling the Global Economy. Yalman Onaran. Bloomberg Press, 2012, pp. 184, $34.95 Over the past several years, both the Tea Party and Occupy Wall Street (OWS) have been at the forefront of criticizing the federal government’s bailout of large financial institutions. While their criticism is generally [...]

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How Capitalism Survived The Crisis

On December 7, 2011, in banking, Federal Reserve, monetary policy, by Jon Lewis

The Legacy of the Crash: How the Financial Crisis Changed America and Britain. Edited by Terrence Casey. Palgrave Macmillan, 2011, pp. 291, $32.00 Historians, when studying economic or political events, often focus on whether a particular historical occurrence represents a break from, or continuity with, the past. There is, for instance, a general consensus that [...]

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