A useful, if partial, sketch of an increasingly serious and topical fiscal issue.
A debut book offers a concise history and critique of American monetary policy.
Current debates about U.S. fiscal policy are typically ahistorical, assuming that a return to earlier interpretations of banking and currency regulation is implausible. Calabro, however, argues for precisely this, a rehabilitation of monetary policy based on a resumption of the gold standard, and the concomitant rejection of fiat money. To that end, the author furnishes a short history of American banking, from its largely decentralized genesis to the Federal Reserve’s response to the 2008 recession. According to the author, the critical mistake was the final abandonment of the gold standard, which not only removed a key limitation on the ad hoc creation of currency, but also permanently obscured the true value of goods and services, enshrining the threat of inflation. Furthermore, there was an unmooring of the value of savings: “In the absence of the gold standard there is no way to protect savings from confiscation through inflation. There is no safe store of value.” Calabro contends that the establishment of the Federal Reserve—an act President Woodrow Wilson deeply regretted—had pernicious consequences not only for the health of the American economy, but democracy as well. The author discusses a basket of related issues—the absence of a true recovery from the last recession and the inadequacy of quantitative easing, the creation of hedge funds, derivatives, and the International Monetary Fund. He makes a spirited case for a more positive interpretation of President Ronald Reagan’s economic legacy, and lucidly contrasts Keynesian monetarism with the more market-oriented Austrian School of economics. Calabro is at his best broadly discussing grand theoretical and historical shifts rather than the minutiae of contemporary policy—it’s hard to be exceedingly rigorous or deep in under 100 pages. Furthermore, the author too digressively detours from the main thread of analysis in the final chapter, which includes a discussion of St. Thomas Aquinas’ commentary on immigration. For a quick primer on the development of American monetary policy, though, one could hardly do better—this study is accessible, sober, and comprehensive.
A useful, if partial, sketch of an increasingly serious and topical fiscal issue.Pub Date: Feb. 3, 2017
ISBN: N/A
Page Count: 88
Publisher: Lulu
Review Posted Online: March 20, 2017
Review Program: Kirkus Indie
Dogged original research and superb narrative skills come together in this gripping account of pitiless evil.
Greed, depravity, and serial murder in 1920s Oklahoma.
During that time, enrolled members of the Osage Indian nation were among the wealthiest people per capita in the world. The rich oil fields beneath their reservation brought millions of dollars into the tribe annually, distributed to tribal members holding "headrights" that could not be bought or sold but only inherited. This vast wealth attracted the attention of unscrupulous whites who found ways to divert it to themselves by marrying Osage women or by having Osage declared legally incompetent so the whites could fleece them through the administration of their estates. For some, however, these deceptive tactics were not enough, and a plague of violent death—by shooting, poison, orchestrated automobile accident, and bombing—began to decimate the Osage in what they came to call the "Reign of Terror." Corrupt and incompetent law enforcement and judicial systems ensured that the perpetrators were never found or punished until the young J. Edgar Hoover saw cracking these cases as a means of burnishing the reputation of the newly professionalized FBI. Bestselling New Yorker staff writer Grann (The Devil and Sherlock Holmes: Tales of Murder, Madness, and Obsession, 2010, etc.) follows Special Agent Tom White and his assistants as they track the killers of one extended Osage family through a closed local culture of greed, bigotry, and lies in pursuit of protection for the survivors and justice for the dead. But he doesn't stop there; relying almost entirely on primary and unpublished sources, the author goes on to expose a web of conspiracy and corruption that extended far wider than even the FBI ever suspected. This page-turner surges forward with the pacing of a true-crime thriller, elevated by Grann's crisp and evocative prose and enhanced by dozens of period photographs.
Dogged original research and superb narrative skills come together in this gripping account of pitiless evil.Pub Date: April 18, 2017
ISBN: 978-0-385-53424-6
Page Count: 352
Publisher: Doubleday
Review Posted Online: Feb. 1, 2017
Kirkus Reviews Issue: Feb. 15, 2017
BOOK TO SCREEN
BOOK TO SCREEN
BOOK TO SCREEN
This moving, potent testament might have been titled “Black Lives Matter.” Or: “An American Tragedy.”
The powerful story of a father’s past and a son’s future.
Atlantic senior writer Coates (The Beautiful Struggle: A Father, Two Sons, and an Unlikely Road to Manhood, 2008) offers this eloquent memoir as a letter to his teenage son, bearing witness to his own experiences and conveying passionate hopes for his son’s life. “I am wounded,” he writes. “I am marked by old codes, which shielded me in one world and then chained me in the next.” Coates grew up in the tough neighborhood of West Baltimore, beaten into obedience by his father. “I was a capable boy, intelligent and well-liked,” he remembers, “but powerfully afraid.” His life changed dramatically at Howard University, where his father taught and from which several siblings graduated. Howard, he writes, “had always been one of the most critical gathering posts for black people.” He calls it The Mecca, and its faculty and his fellow students expanded his horizons, helping him to understand “that the black world was its own thing, more than a photo-negative of the people who believe they are white.” Coates refers repeatedly to whites’ insistence on their exclusive racial identity; he realizes now “that nothing so essentialist as race” divides people, but rather “the actual injury done by people intent on naming us, intent on believing that what they have named matters more than anything we could ever actually do.” After he married, the author’s world widened again in New York, and later in Paris, where he finally felt extricated from white America’s exploitative, consumerist dreams. He came to understand that “race” does not fully explain “the breach between the world and me,” yet race exerts a crucial force, and young blacks like his son are vulnerable and endangered by “majoritarian bandits.” Coates desperately wants his son to be able to live “apart from fear—even apart from me.”
This moving, potent testament might have been titled “Black Lives Matter.” Or: “An American Tragedy.”Pub Date: July 8, 2015
ISBN: 978-0-8129-9354-7
Page Count: 176
Publisher: Spiegel & Grau
Review Posted Online: May 5, 2015
Kirkus Reviews Issue: July 1, 2015
BOOK REVIEW
BOOK REVIEW
SEEN & HEARD
BOOK TO SCREEN
BOOK TO SCREEN
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