The ABC of the Federal Reserve System : Why the Federal Reserve System Was Called Into Being, the Main Features of Its Organization, and How It Works

Language: English

Published by Pantianos Classics, 1918

1789874394 / 9781789874396

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Seller: AHA-BUCH GmbH, Einbeck, GermanyAHA-BUCH GmbH

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Softcover

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nach der Bestellung gedruckt Neuware - Printed after ordering - Renowned economist Edwin Kemmerer narrates the inception and history of the Federal Reserve System, while outlining its functions and purposes in the economy of the United States.The Federal Reserve was conceived as an antidote to a succession of financial panics in the late 19th and early 20th century. The great panic of 1907 was, for government legislators weary of the chaos and joblessness brought by such volatility, the final straw. For a time J. P. Morgan, a banking magnate, aggressively plowed funds to stabilize, avert and mitigate the chaos. However a longer term, government-backed solution was needed: in 1913, the Federal Reserve was formally established. Edwin Kemmerer was already influential in academia at the time of the Federal Reserve's creation, and broadly supported the concept of the 'central bank' as a stabilizing force. The order brought to finance by centralization, together with a pegging of the dollar to gold, formed lifelong pillars of the author's economic philosophy. Although the gold standard in particular has since fell from favor, many of the guiding principles in this book stand in modern day economics, and its historical value is undoubted. Together with a comprehensive account of the Federal Reserve, the Appendices of this book contain relevant law of the era. The Federal Reserve Act, together with salient portions of the Farm Loan Act (an early exemplar of the post-Fed system of credit) are included with the author's notes. In all, this book offers readers an in-depth justification and narration of the Fed's creation and early years.…

Seller Inventory # 9781789874396

Title
The ABC of the Federal Reserve System : Why the Federal Reserve System Was Called Into Being, the Main Features of Its Organization, and How It Works
Author
Edwin Walter Kemmerer
Publisher
Pantianos Classics
Publication year
1918
Condition
Neu
Binding
Taschenbuch
Language
English
ISBN 10
1789874394
ISBN 13
9781789874396
Item weight
184 grams
Dimensions
229x152x7 mm

AHA-BUCH GmbH

Einbeck, Germany

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AbeBooks seller since August 14, 2006

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