The government of money
Subtitle: monetarism in Germany and the United States
By: Peter A. Johnson.
Series: Cornell studies in political economy
Publisher: Cornell University Press
Published: 1998
Place of publication: Ithaca, N.Y
Language: eng
Number of pages: 240
Subjects: Monetary policy -- Germany.; Monetary policy -- United States.; Banks and banking, Central -- Germany.; Banks and banking, Central -- United States.
Description: In recent years governments have increasingly given their central banks the freedom to pursue policies of price stability. In particular, the German Bundesbank and the U.S. Federal Reserve have been widely considered models of autonomous policymaking. This book traces the origins of their success to the political struggle to adopt monetarism in Germany and the United States.

The Government of Money contends that the political involvement of monetarist economists was central to this endeavor. The book examines the initiatives undertaken by monetarists from 1970 to 1985 and the policies that resulted once their ideas were enacted. Taking a historical approach to major issues of political economy, Peter A.

Johnson describes both the political efforts of the monetarist economists to convert central banks to their preferred policies and the resistance offered by traditionalist central bankers, politicians, and financial and labor interests.
Notes: Includes bibliographical references (p. 219-230) and index.