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A History of the Federal Reserve: Book 2, 1970–1986
by Allan H. MeltzerAllan H. Meltzer’s critically acclaimed history of the Federal Reserve is the most ambitious, most intensive, and most revealing investigation of the subject ever conducted. Its first volume, published to widespread critical acclaim in 2003, spanned the period from the institution’s founding in 1913 to the restoration of its independence in 1951. This two-part second volume of the history chronicles the evolution and development of this institution from the Treasury–Federal Reserve accord in 1951 to the mid-1980s, when the great inflation ended. It reveals the inner workings of the Fed during a period of rapid and extensive change. An epilogue discusses the role of the Fed in resolving our current economic crisis and the needed reforms of the financial system.In rich detail, drawing on the Federal Reserve’s own documents, Meltzer traces the relation between its decisions and economic and monetary theory, its experience as an institution independent of politics, and its role in tempering inflation. He explains, for example, how the Federal Reserve’s independence was often compromised by the active policy-making roles of Congress, the Treasury Department, different presidents, and even White House staff, who often pressured the bank to take a short-term view of its responsibilities. With an eye on the present, Meltzer also offers solutions for improving the Federal Reserve, arguing that as a regulator of financial firms and lender of last resort, it should focus more attention on incentives for reform, medium-term consequences, and rule-like behavior for mitigating financial crises. Less attention should be paid, he contends, to command and control of the markets and the noise of quarterly data.At a time when the United States finds itself in an unprecedented financial crisis, Meltzer’s fascinating history will be the source of record for scholars and policy makers navigating an uncertain economic future.
A History of the Federal Reserve: 1913–1951
by Allan H. MeltzerAllan H. Meltzer's monumental history of the Federal Reserve System tells the story of one of America's most influential but least understood public institutions. This first volume covers the period from the Federal Reserve's founding in 1913 through the Treasury-Federal Reserve Accord of 1951, which marked the beginning of a larger and greatly changed institution. To understand why the Federal Reserve acted as it did at key points in its history, Meltzer draws on meeting minutes, correspondence, and other internal documents (many made public only during the 1970s) to trace the reasoning behind its policy decisions. He explains, for instance, why the Federal Reserve remained passive throughout most of the economic decline that led to the Great Depression, and how the Board's actions helped to produce the deep recession of 1937 and 1938. He also highlights the impact on the institution of individuals such as Benjamin Strong, governor of the Federal Reserve Bank of New York in the 1920s, who played a key role in the adoption of a more active monetary policy by the Federal Reserve. Meltzer also examines the influence the Federal Reserve has had on international affairs, from attempts to build a new international financial system in the 1920s to the Bretton Woods Agreement of 1944 that established the International Monetary Fund and the World Bank, and the failure of the London Economic Conference of 1933. Written by one of the world's leading economists, this magisterial biography of the Federal Reserve and the people who helped shape it will interest economists, central bankers, historians, political scientists, policymakers, and anyone seeking a deep understanding of the institution that controls America's purse strings. "It was 'an unprecedented orgy of extravagance, a mania for speculation, overextended business in nearly all lines and in every section of the country.' An Alan Greenspan rumination about the irrational exuberance of the late 1990s? Try the 1920 annual report of the board of governors of the Federal Reserve. . . . To understand why the Fed acted as it did—at these critical moments and many others—would require years of study, poring over letters, the minutes of meetings and internal Fed documents. Such a task would naturally deter most scholars of economic history but not, thank goodness, Allan Meltzer."—Wall Street Journal "A seminal work that anyone interested in the inner workings of the U. S. central bank should read. A work that scholars will mine for years to come."—John M. Berry, Washington Post "An exceptionally clear story about why, as the ideas that actually informed policy evolved, things sometimes went well and sometimes went badly. . . . One can only hope that we do not have to wait too long for the second installment."—David Laidler, Journal of Economic Literature "A thorough narrative history of a high order. Meltzer's analysis is persuasive and acute. His work will stand for a generation as the benchmark history of the world's most powerful economic institution. It is an impressive, even awe-inspiring achievement."—Sir Howard Davies, Times Higher Education Supplement
A History of the Federal Reserve: Book 1, 1951–1969
by Allan H. MeltzerAllan H. Meltzer’s critically acclaimed history of the Federal Reserve is the most ambitious, most intensive, and most revealing investigation of the subject ever conducted. Its first volume, published to widespread critical acclaim in 2003, spanned the period from the institution’s founding in 1913 to the restoration of its independence in 1951. This two-part second volume of the history chronicles the evolution and development of this institution from the Treasury–Federal Reserve accord in 1951 to the mid-1980s, when the great inflation ended. It reveals the inner workings of the Fed during a period of rapid and extensive change. An epilogue discusses the role of the Fed in resolving our current economic crisis and the needed reforms of the financial system.In rich detail, drawing on the Federal Reserve’s own documents, Meltzer traces the relation between its decisions and economic and monetary theory, its experience as an institution independent of politics, and its role in tempering inflation. He explains, for example, how the Federal Reserve’s independence was often compromised by the active policy-making roles of Congress, the Treasury Department, different presidents, and even White House staff, who often pressured the bank to take a short-term view of its responsibilities. With an eye on the present, Meltzer also offers solutions for improving the Federal Reserve, arguing that as a regulator of financial firms and lender of last resort, it should focus more attention on incentives for reform, medium-term consequences, and rule-like behavior for mitigating financial crises. Less attention should be paid, he contends, to command and control of the markets and the noise of quarterly data.At a time when the United States finds itself in an unprecedented financial crisis, Meltzer’s fascinating history will be the source of record for scholars and policy makers navigating an uncertain economic future.
A History of the Federal Reserve, Volume 1: 1913-1951
by Allan H. MeltzerAllan H. Meltzer's monumental history of the Federal Reserve System tells the story of one of America's most influential but least understood public institutions. This first volume covers the period from the Federal Reserve's founding in 1913 through the Treasury-Federal Reserve Accord of 1951, which marked the beginning of a larger and greatly changed institution.
A History of the Federal Reserve, Volume 2, Book 1: 1951-1969
by Allan H. MeltzerAllan H. Meltzer's critically acclaimed history of the Federal Reserve is the most ambitious, most intensive, and most revealing investigation of the subject ever conducted. Its first volume, published to widespread critical acclaim in 2003, spanned the period from the institution's founding in 1913 to the restoration of its independence in 1951. This two-part second volume of the history chronicles the evolution and development of this institution from the Treasury-Federal Reserve accord in 1951 to the mid-1980s, when the great inflation ended. It reveals the inner workings of the Fed during a period of rapid and extensive change. An epilogue discusses the role of the Fed in resolving our current economic crisis and the needed reforms of the financial system. In rich detail, drawing on the Federal Reserve's own documents, Meltzer traces the relation between its decisions and economic and monetary theory, its experience as an institution independent of politics, and its role in tempering inflation. He explains, for example, how the Federal Reserve's independence was often compromised by the active policy-making roles of Congress, the Treasury Department, different presidents, and even White House staff, who often pressured the bank to take a short-term view of its responsibilities. With an eye on the present, Meltzer also offers solutions for improving the Federal Reserve, arguing that as a regulator of financial firms and lender of last resort, it should focus more attention on incentives for reform, medium-term consequences, and rule-like behavior for mitigating financial crises. Less attention should be paid, he contends, to command and control of the markets and the noise of quarterly data. At a time when the United States finds itself in an unprecedented financial crisis, Meltzer's fascinating history will be the source of record for scholars and policy makers navigating an uncertain economic future.
History of the Future of Economic Growth: Historical Roots of Current Debates on Sustainable Degrowth (Routledge Studies in Ecological Economics)
by Matthias Schmelzer Iris BorowyThe future of economic growth is one of the decisive questions of the twenty-first century. Alarmed by declining growth rates in industrialized countries, climate change, and rising socio-economic inequalities, among other challenges, more and more people demand to look for alternatives beyond growth. However, so far these current debates about sustainability, post-growth or degrowth lack a thorough historical perspective. This edited volume brings together original contributions on different aspects of the history of economic growth as a central and near-ubiquitous tenet of developmental strategies. The book addresses the origins and evolution of the growth paradigm from the seventeenth century up to the present day and also looks at sustainable development, sustainable growth, and degrowth as examples of alternative developmental models. By focusing on the mixed legacy of growth, both as a major source of expanded life expectancies and increased comfort, and as a destructive force harming personal livelihoods and threatening entire societies in the future, the editors seek to provide historical depth to the ongoing discussion on suitable principles of present and future global development. History of the Future of Economic Growth is aimed at students and academics in environmental, social, economic and international history, political science, environmental studies, and economics, as well as those interested in ongoing discussions about growth, sustainable development, degrowth, and, more generally, the future.
The History of the German Public Accounting Profession
by Hugh B. MarkusFirst Published in 1997. Accountants in the English-speaking world have accorded the development of the Anglo-American accounting profession a great deal of attention. Perhaps only in the Netherlands has a like interest in the history of the public accounting profession manifested itself, although even there without the same degree of preoccupation as in the English-speaking world. Hugh Brian Markus’s History of the German Public Account-ing Profession, accordingly, is a particularly welcome addition to the accounting history literature. In the original German, it marked new attention to the history of the German public accounting profession; and in the English translation offered here, it provides English- speaking audiences with an insight into the development of a public accounting profession different from their own.
A History of the Global Economy
by Joerg BatenWhy are some parts of the world poor today, while others are rich? At which point in time did they diverge, and what were the reasons? These core questions are addressed in a concise and accessible introduction to global economic development since 1500. Leading economic historians from across the globe provide overviews of major world regions together with global comparison chapters and case studies highlighting key themes, individuals, processes and events. Utilising a set of common developmental indicators, the chapters address crucial issues such as how international trade and migration, institutions and flows of physical and human capital impacted economic growth. Richly illustrated with informative figures, maps, tables and charts, A History of the Global Economy summarises the key economic findings, debates and ideas, and provides students and the interested public with an up-to-date and engaging introduction to the origins and evolution of today's global economy.
History of the IMF
by Kazuhiko Yago Yoshio Asai Masanao ItohThis book describes the history of the IMF from its birth, through the Bretton Woods era, and in the aftermath. Special attention is paid to integrating IMF history with the macro-economic policies of member countries and of other international institutions as well. This collection of work presents a clear understanding, inter alia, of the influence of the United States over IMF policy via the National Advisory Committee; the dealings of the IMF with the UK on pound sterling policy; the institutional change of the IMF brought about by Per Jacobsson, the third managing director; and France, Italy, Germany, Canada, and Japan vis-à-vis IMF consultations. It also provides the reader with topics concerning the bankers' acceptance market function and international liquidity issues in relation to IMF policy; the final chapter sheds light on the long-standing relations between the IMF and China, from the Bretton Woods Agreement to the contemporary period. All the chapters are archive-based academic studies providing deep insights with historical background, which makes this book the first thoroughly independent achievement in the field of IMF history. This book is highly recommended to readers interested in contemporary monetary and financial history and those who seek to obtain a coherent image of postwar international institutions and markets.
A History of the International Movement of Journalists: Professionalism Versus Politics (Palgrave Studies in the History of the Media)
by Kaarle Nordenstreng Frank Beyersdorf Svennik H�yer Epp Lauk Ulf BjrkThis study presents a general history of how journalism as an emerging profession became internationally organized over the past one hundred and twenty years, seen mainly through the associations founded to promote the interests of journalists around the world.
History of the Japanese Video Game Industry (Translational Systems Sciences #35)
by Yusuke KoyamaThis book is the first one to describe the entire history of the video game industry in Japan. The industry consists of multiple markets—for PCs, home consoles, arcades, cellular phones and smart phones—and it is very difficult to see the complete picture. The book deals comprehensively with the history of the Japanese game industry from the beginning of the non-computer age to the present. The video game industry in Japan was established in the arcade game market when Space Invaders was released by Taito in 1978. Game markets for both PCs and home consoles followed in the early 1980s. The platform that occupies a central market position started with the arcade and shifted, in order, to the home console, handheld consoles, and smart phones. In the video game industry in the twentieth century each platform had a clear identity, and the relationships among platforms were "interactions". In the twenty-first century, with the improvement of computer performance, the platform identity has disappeared, thus the relationship among platforms is highly competitive. Since the "crash of 1983" in the United States, the Japanese game industry has one of the largest market shares in the world and has developed without being influenced by other countries. It reached its peak in the late 1990s, and then its relative position declined due to the growth of foreign markets and the failure of emerging markets such as online PC games. Even today, Japan's gaming industry holds a dominant position in the world, but it is not the superpower it once was. Since the beginning of the twenty-first century, game research has become active worldwide. Among game researchers, there is a large demand for research on games in Japan, but there is still little dissemination of research in English. The original version of this book published in Japan is highly regarded and received an award for excellence from the Society of Socio-Informatics in 2017.
The History of the Labor Movement in the United States, Vol. 1: From Colonial Times to the Founding of the American Federation of Labor
by Philip S. FonerTextbook on: Early trade unions and labor parties; The 10-hour movement; Northern labor and slavery; Labor and the Civil War; Rise of the Knights of Labor; Depression 1873-78 and strikes; Labor political action, and more.
History of the Labor Movement in the United States, Vol. II: From the Founding of the American Federation of Labor to the Emergence of American Imperialism
by Philip S. FonerThis work includes information about: '80s Socialist movement and Labor, the Knights of Labor, Haymarket and May Day, Labor political action, the rise of the AFL, the Homestead strike, Coal creek and Cour d'Alene, American Railway Union, Pullman strike, Labor populism, Labor and the Spanish-American War, Labor and imperialism, and more.
History of the Labor Movement in the United States, Vol. III: The Policies and Practices of the American Federation of Labor, 1900-1909
by Philip S. FonerLabor at the turn of the Century; Open-shop drive; National Civic Federation; The church and labor; business unionism; Craft vs industrial unions; Women, Black and immigrant workers; AFL political policies; the Socialists; Western Federation of Miners; the American Labor Union, more.
History of the Labor Movement in the United States Vol. IV: The Industrial Workers of the World 1905-1917
by Philip S. FonerDedicated to Elizabeth Gurley Flynn, this is the stirring account of IWW battles West and East.
A History of the Levant Company
by Alfred C. WoodFirst Published in 1964. Routledge is an imprint of Taylor & Francis, an informa company.
History of the London Discount Market
by W. T. KingFirst Published in 1972. Routledge is an imprint of Taylor & Francis, an informa company.
The History of the London Water Industry, 1580–1820
by Leslie TomoryHow did pre-industrial London build the biggest water supply industry on earth?Beginning in 1580, a number of competing London companies sold water directly to consumers through a large network of wooden mains in the expanding metropolis. This new water industry flourished throughout the 1600s, eventually expanding to serve tens of thousands of homes. By the late eighteenth century, more than 80 percent of the city’s houses had water connections—making London the best-served metropolis in the world while demonstrating that it was legally, commercially, and technologically possible to run an infrastructure network within the largest city on earth.In this richly detailed book, historian Leslie Tomory shows how new technologies imported from the Continent, including waterwheel-driven piston pumps, spurred the rapid growth of London’s water industry. The business was further sustained by an explosion in consumer demand, particularly in the city’s wealthy West End. Meanwhile, several key local innovations reshaped the industry by enlarging the size of the supply network. By 1800, the success of London’s water industry made it a model for other cities in Europe and beyond as they began to build their own water networks. The city’s water infrastructure even inspired builders of other large-scale urban projects, including gas and sewage supply networks.The History of the London Water Industry, 1580–1820 explores the technological, cultural, and mercantile factors that created and sustained this remarkable industry. Tomory examines how the joint-stock form became popular with water companies, providing a stable legal structure that allowed for expansion. He also explains how the roots of the London water industry’s divergence from the Continent and even from other British cities was rooted both in the size of London as a market and in the late seventeenth-century consumer revolution. This fascinating and unique study of essential utilities in the early modern period will interest business historians and historians of science and technology alike.
History of the Louisville & Nashville Railroad (Railroads of America)
by Maury KleinAn updated, in-depth history of the rise and fall of the L&N Railroad that serviced the southeastern United States.After the Civil War, the Louisville and Nashville Railroad took the lead among southern railroads in developing rail systems and organizing transcontinental travel. Through two world wars, federal government control, internal crises, external dissension, the Depression, and the great Ohio River flood of 1937, the L&N Railroad remained one of the country's most efficient lines. It is a southern institution and a railroad buff's dream. When eminent railroad historian Maury Klein’s definitive History of the Louisville and Nashville Railroad was first published in 1972, it quickly became one of the most sought-after books on railroad history. This new edition both restores a hard-to-find classic to print and provides a new introduction by Klein detailing the L&N’s history in the thirty years since the book was first published.Praise for History of the Louisville & Nashville Railroad“A fascinating look at the L&N’s long and tumultuous history.” —Business Horizons“Stands both as an excellent example of what business history can accomplish and as an illustration of the work that remains to be done in the field.” —H-Net Reviews“Reading like an epic saga, albeit with a corporation as the main character, this enduring and definitive account of the L&N successfully offers a broad yet detailed survey befitting a company that at one time helped develop and mold the South while amassing great wealth.” —Journal of Appalachian Studies“A detailed account of the Louisville and Nashville Railroad’s first century of operation. The story of the L&N is a great one, and Klein has written a definitive corporate and financial history of the railroad. Klein's vivid account of this period in the L & N’s history will be very informative to those who wonder why America’s railroads are what they are today.” —Journal of Southern History
A History of the Marconi Company 1874-1965
by W. J. BakerThis accessible work provides a detailed picture of the history of one of the most important companies in the electronic industry.
History of the Society of Incorporated Accountants 1885-1957 (Routledge Library Editions: Accounting History #30)
by A.A. GarrettThis book, first published in 1984, marks the closing of a long and important chapter in the history of the accountancy profession. The Society of Incorporated Accountants was founded in 1885 and over its long history achieved much in the development of the profession. The book is concerned with the main policies of the Society, its leading personalities, its organisation, and the general will of its body of Members. It also focuses on economic and business affairs, legislation and constitutional development, as well as the relationship of different sections of the profession and developments in other countries.
The History of the Standard Oil Company: Briefer Version
by David M. Chalmers Ida M. TarbellMuckrakers -- a term coined in 1906 by President Theodore Roosevelt -- referred to American journalists, novelists and critics who, in the early 20th century, attempted to expose corruption in politics and the abuses of big business. One publication spearheading these exposés was McClures Magazine, and Ida Tarbell was the writer whose dramatic revelations eventually lead to effective regulation of the Standard Oil Company. Her story, serialized by McClure's in 1902 and 1903, tells the history of John D. Rockefeller's company. The first major industrial monopoly in the U.S., Standard Oil, in 1901, was the largest corporation in the country, and at its peak, controlled as much as eighty-five percent of oil refining in America. But with all his wealth and power, Rockfeller could not protect himself from Tarbell. Her story of the company, which became a model for militant journalists in the future, managed to place the blame for increasingly commercialized American ideals and practical behavior at Rockefeller's doorstep. Combining descriptions of his business practices with his personal characteristics and even his physical appearance, Tarbell created an image of a cunning and ruthless person -- a picture that not even decades of Rockefeller philanthropy were able to dispel. This edition (the "briefer version" of her book; the original was more than 800 pages.) makes a great muckraking classic much more accessible to readers. As such, it will be invaluable to students and teachers of American economic history and a fascinating read for anyone interested in the muckraking era and the days of unregulated big business.
The History of the Standard Oil Company (Belt Revivals)
by Ida TarbellThe classic of muckraking journalism that exposed the inner workings of a Gilded Age business empire—with a new introduction by Elizabeth Catte. Cleveland oil tycoon John D. Rockefeller formed the Standard Oil Company of Ohio in 1870. Over the next four decades, he turned the business into a behemoth, systematically driving his competitors out of business or buying them outright. His vast fortune made him one of the nation&’s most powerful men. But his private empire was nearly undone by the tireless journalism of a single, determined woman, Ida Tarbell. Originally published in 1904, The History of the Standard Oil Company exposed Rockefeller&’s monopolistic tactics, eventually resulting in the company&’s dismantling in 1911. More than simply a monumental piece of reporting; it is a deft, engrossing portrait of business in America—both its virtues and excesses.
A History of the Theory of Investments: My Annotated Bibliography (Wiley Finance #335)
by Mark Rubinstein"This exceptional book provides valuable insights into the evolution of financial economics from the perspective of a major player." -- Robert Litzenberger, Hopkinson Professor Emeritus of Investment Banking, Univ. of Pennsylvania; and retired partner, Goldman Sachs A History of the Theory of Investments is about ideas -- where they come from, how they evolve, and why they are instrumental in preparing the future for new ideas. Author Mark Rubinstein writes history by rewriting history. In unearthing long-forgotten books and journals, he corrects past oversights to assign credit where credit is due and assembles a remarkable history that is unquestionable in its accuracy and unprecedented in its power. Exploring key turning points in the development of investment theory, through the critical prism of award-winning investment theory and asset pricing expert Mark Rubinstein, this groundbreaking resource follows the chronological development of investment theory over centuries, exploring the inner workings of great theoretical breakthroughs while pointing out contributions made by often unsung contributors to some of investment's most influential ideas and models.
History of the Trade Between the United Kingdom and the United States: With Special Reference to the Effects of Tarriffs
by Sydney J. ChapmanFirst published in 2005. Routledge is an imprint of Taylor & Francis, an informa company.