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Money and Banks in the American Political System

$98.00 (P)

  • Date Published: January 2013
  • availability: Available
  • format: Hardback
  • isbn: 9781107028043

$ 98.00 (P)

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About the Authors
  • 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.

    • Covers a wide range of political and financial topics for non-specialists
    • Forward-looking explanation of politics of finance, written so readers can judge the best possible course of action for themselves
    • Integrates nontechnical understanding of financial markets, banks and financial products with the practical aspects of the political system
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    Reviews & endorsements

    "The financial crisis that began in 2008 remains the subject of heated arguments regarding its causes … This new book, grounded in relevant historical developments and guided by a helpful understanding of bureaucratic politics and the distinctive nature of US governments and guided by a helpful understanding of bureaucratic politics and the distinctive nature of US government, brings a refreshingly balanced perspective to the problem. … it sheds light on the most basic causes of US financial instability. Summing up: recommended. Upper-division undergraduate, graduate, research, and professional collections."
    M. E. Ethridge, Choice

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    Product details

    • Date Published: January 2013
    • format: Hardback
    • isbn: 9781107028043
    • length: 330 pages
    • dimensions: 229 x 152 x 19 mm
    • weight: 0.54kg
    • contains: 8 b/w illus. 6 tables
    • availability: Available
  • Table of Contents

    1. The institutional foundations of financial politics in the United States
    Part I. A Historical Background:
    2. Developing state capacity for the conduct of American finance
    3. Creating increasingly complex financial products
    Part II. The Bureaucratic Politics and Finance:
    4. Making financial policy in Congress
    5. Making financial policy in the executive branch and the federal bureaucracy
    6. Making financial policy in the federal reserve system
    Part III. The Operation of the Financial Political Economy:
    7. The process in motion: political institutions, money, and the business cycle
    8. The process approaches collapse: politics in the financial crisis of 2008
    9. The process in its international context: political in international institutions
    Part IV. Conclusions:
    10. Governing the US financial system.

  • Author

    Kathryn C. Lavelle, Case Western Reserve University, Ohio
    Kathryn C. Lavelle is Ellen and Dixon Long Professor of World Affairs in the Department of Political Science at Case Western Reserve University. She is the author of Legislating International Organization: The US Congress, the IMF, and the World Bank (2011) and The Politics of Equity Finance in Emerging Markets (2004). She served as the William A. Steiger fellow in the American Political Science Association's congressional fellowship program, where she worked on the staff of the House Committee on Financial Services.

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