Money and Banks in the American Political System
Cambridge University Press, 3/7/2013
EAN 9781107609167, ISBN10: 110760916X
Paperback, 328 pages, 22.9 x 15.2 x 1.9 cm
Language: English
In Money and Banks in the American Political System, debates over financial politics are woven into the political fabric of the state and contemporary conceptions of the American dream. The author argues that the political sources of instability in finance derive from the nexus between market innovation and regulatory arbitrage. This book explores monetary, fiscal and regulatory policies within a political culture characterized by the separation of business and state, and mistrust of the concentration of power in any one political or economic institution. The bureaucratic arrangements among the branches of government, the Federal Reserve, executive agencies, and government sponsored enterprises incentivize agencies to compete for budgets, resources, governing authority and personnel.
1. The institutional foundations of financial politics in the United States
Part I. A Historical Background
2. Developing state capacity for the conduct of American finance
3. Creating increasingly complex financial products
Part II. The Bureaucratic Politics and Finance
4. Making financial policy in Congress
5. Making financial policy in the executive branch and the federal bureaucracy
6. Making financial policy in the federal reserve system
Part III. The Operation of the Financial Political Economy
7. The process in motion
political institutions, money, and the business cycle
8. The process approaches collapse
politics in the financial crisis of 2008
9. The process in its international context
political in international institutions
Part IV. Conclusions
10. Governing the US financial system.