Description: The authors examine the many aspects of the breakdown of the U.S. financial and monetary system, including monetary policy and interest rates, banking and financial regulation, and financial markets and productive investment. They see the financial structure as crucial to the performance of the real economy and propose new policies and reforms to promote higher standards of fairness, efficiency, productivity and growth. They consider the goals and instruments of monetary policy to achieve these ends, along with efforts to promote financial stability, capital formation and higher standards of accountability within the financial system.

This book will interest students and scholars of money, banking and financial institutions, and markets and is appropriate as a supplementary text.