Monetary Remedies

E Ray Canterbery

Chapter 11 in The Rise and Fall of Global Austerity, 2015, pp 183-201 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The Federal Reserve System's building is not unique in Washington DC. Architect Howard Roark of Ayn Rand's The Fountainhead would have designed it differently. The clean, classical exterior of white marble looks very much like the neighboring Federal buildings that went up during the New Deal era. An American eagle in white marble, perched over huge bronze doors, is the only thing pretentious or forbidding about it. The doorway leads to a lobby displaying portraits of Woodrow Wilson, the Fed's founding President, and Senator Carter Glass of Virginia, who shepherded the Federal Reserve Act through Congress in 1913. The lobby's ceiling is decorated with a plaster relief of Greek coins surrounding the goddess Cybelle, symbol of abundance and stability. Everyone, from clerks to governors, enter the Fed through the back door on the C Street side of the building…

Keywords: Austerity; Expansionary Austerity; Housing Bubble; Global Great Recession; Austerity Lobby; Monetary Policy; Fiscal Policy; Incomes Policy; Full Employment; Public Debt; Austerity in Europe; Domestic Inequality; Global Inequality; Economic Growth; Post Keynsesians; John Maynard Keynes; Michal Kalecki; Piero Sraffa; Hyman Minsky; Vita Theory; Trickle-Down Economics; Keynesians; Trickle-Up Economics; Keynesian Economics; Trends in Suicide Rates; Health and The Economy; Alan Greenspan; Ben Benanke; Janet Yellen; Federal Reserve Board; European Central Bank; The Euro (search for similar items in EconPapers)
Date: 2015
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