"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
Money and Banks in the American Political System argues that the political sources of instability in finance derive from the intersection of 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.