Money and banks in the American political system
By: Kathryn C. Lavelle
Publisher: Cambridge University Press
Published: 2013
Place of publication: Cambridge; New York
Language: eng
Number of pages: 306
ISBN-13: 9781107028043; 9781107609167
Subjects: Financial institutions; Monetary policy; Financial crises; Finance; Economic policy; Banks and banking
Description: 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.
Notes: Includes bibliographical references and index.
Table of contents: title: The institutional foundations of financial politics in the US; title: Developing state capacity for the conduct of American finance; title: Creating increasingly complex financial products; title: Making financial policy in Congress; title: Making financial policy in the Executive branch and the Federal bureaucracy; title: Making financial policy in the Federal Reserve system; title: The process in motion: political institutions, money, and the business cycle; title: The process approaches collapse: politics in the financial crisis of 2008; title: The process in its international context: politics in international institutions; title: Governing the us financial system.