Accessible and, though of interest largely to fiscal policy wonks, a careful argument for balancing sound financial...
Who guards the guards? In the case of the Federal Reserve, a watchdog over the economy, that question has new meaning.
The Fed is all that shields us from fiscal chaos, right? No. According to Jacobs (Chair, Political Studies/Univ. of Minnesota; co-author: Who Governs?: Presidents, Public Opinion, and Manipulation, 2015, etc.) and King (American Government/Oxford Univ.; co-author: Sterilized by the State: Eugenics, Race, and the Population Scare in Twentieth-Century North America, 2013, etc.), the Fed introduces its own kind of chaos by implicating too much of the economy in the machinations of the financial sector, which itself is too large a part of the economy. The Fed, “a mutant institution of government,” has two fundamental charges: to keep prices stable and to maximize employment. It has taken to tending mostly to the former, “tweaking the economy during sharp downturns,” when inflation is low and short-term stimuli are efficacious. In the case of the last downturn and its long-tail aftermath, the response has been to lower the interest rate to almost nothing, which does not necessarily stabilize prices. The reliance of the Fed on financial markets and its usual strategy of buying and later selling Treasury bonds means that it has become a financial player—and that numbers game, write Jacobs and King, “produces winners and losers.” Given the institution’s autonomy—though “not immune from intervention,” the Fed successfully shook off controls imposed by Dodd-Frank—this risky behavior has become an unregulated norm. However, it was not always this way. The authors observe that public involvement in financial policy was once much greater, with widespread debate over such things as “the relatively arcane issue of whether gold or silver should backstop the dollar.” While cautioning that they are not libertarian enemies of the Fed per se, they add specific recommendations for regulatory reform.
Accessible and, though of interest largely to fiscal policy wonks, a careful argument for balancing sound financial management and the public interest.Pub Date: March 4, 2016
ISBN: 978-0-19-938896-7
Page Count: 240
Publisher: Oxford Univ.
Review Posted Online: Feb. 14, 2016
Kirkus Reviews Issue: March 1, 2016
BOOK REVIEW
A moving meditation on mortality by a gifted writer whose dual perspectives of physician and patient provide a singular...
A neurosurgeon with a passion for literature tragically finds his perfect subject after his diagnosis of terminal lung cancer.
Writing isn’t brain surgery, but it’s rare when someone adept at the latter is also so accomplished at the former. Searching for meaning and purpose in his life, Kalanithi pursued a doctorate in literature and had felt certain that he wouldn’t enter the field of medicine, in which his father and other members of his family excelled. “But I couldn’t let go of the question,” he writes, after realizing that his goals “didn’t quite fit in an English department.” “Where did biology, morality, literature and philosophy intersect?” So he decided to set aside his doctoral dissertation and belatedly prepare for medical school, which “would allow me a chance to find answers that are not in books, to find a different sort of sublime, to forge relationships with the suffering, and to keep following the question of what makes human life meaningful, even in the face of death and decay.” The author’s empathy undoubtedly made him an exceptional doctor, and the precision of his prose—as well as the moral purpose underscoring it—suggests that he could have written a good book on any subject he chose. Part of what makes this book so essential is the fact that it was written under a death sentence following the diagnosis that upended his life, just as he was preparing to end his residency and attract offers at the top of his profession. Kalanithi learned he might have 10 years to live or perhaps five. Should he return to neurosurgery (he could and did), or should he write (he also did)? Should he and his wife have a baby? They did, eight months before he died, which was less than two years after the original diagnosis. “The fact of death is unsettling,” he understates. “Yet there is no other way to live.”
A moving meditation on mortality by a gifted writer whose dual perspectives of physician and patient provide a singular clarity.Pub Date: Jan. 19, 2016
ISBN: 978-0-8129-8840-6
Page Count: 248
Publisher: Random House
Review Posted Online: Sept. 29, 2015
Kirkus Reviews Issue: Oct. 15, 2015
PERSPECTIVES
For Howard Zinn, long-time civil rights and anti-war activist, history and ideology have a lot in common. Since he thinks that everything is in someone's interest, the historian—Zinn posits—has to figure out whose interests he or she is defining/defending/reconstructing (hence one of his previous books, The Politics of History). Zinn has no doubts about where he stands in this "people's history": "it is a history disrespectful of governments and respectful of people's movements of resistance." So what we get here, instead of the usual survey of wars, presidents, and institutions, is a survey of the usual rebellions, strikes, and protest movements. Zinn starts out by depicting the arrival of Columbus in North America from the standpoint of the Indians (which amounts to their standpoint as constructed from the observations of the Europeans); and, after easily establishing the cultural disharmony that ensued, he goes on to the importation of slaves into the colonies. Add the laborers and indentured servants that followed, plus women and later immigrants, and you have Zinn's amorphous constituency. To hear Zinn tell it, all anyone did in America at any time was to oppress or be oppressed; and so he obscures as much as his hated mainstream historical foes do—only in Zinn's case there is that absurd presumption that virtually everything that came to pass was the work of ruling-class planning: this amounts to one great indictment for conspiracy. Despite surface similarities, this is not a social history, since we get no sense of the fabric of life. Instead of negating the one-sided histories he detests, Zinn has merely reversed the image; the distortion remains.
Pub Date: Jan. 1, 1979
ISBN: 0061965588
Page Count: 772
Publisher: Harper & Row
Review Posted Online: May 26, 2012
Kirkus Reviews Issue: Jan. 1, 1979
BOOK REVIEW
BOOK REVIEW
BOOK REVIEW
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