Roger Lowenstein

I’m not a big fan of non fiction, but I heard Lowenstein interviewed on NPR and found what he had to say quite interesting so I tried his book in which he outlines the influence of economic strategies on the progress and outcome of the Civil War. I found it fascinating. Well written, Lowenstein took what could have been a dry subject and kept my interest throughout. He explained some complex subjects in a way that made them easily understood. It is all here…the role of the central government, the differences between what is tolerated in the north and the south, finances, services, taxation. I gained more insight into not only the Civil War era, but also into some of our politics today.

Thanks to NetGalley and Penguinpress for the DRC… (mais)

Journalist Roger Lowenstein tell the story of the creation of the Federal Reserve beginning with Andrew Jackson's termination of the Second Bank of the United States in the early 19th Century. Most of the action took place in the Theodore Roosevelt, Taft and Wilson presidencies. I was struck how the strongest opposition to a central bank came from the people who suffered most from the pre-Federal Reserve system. Farmers and industrial workers suffered the most from the frequent depressions and panics in the 19th century but for the most part strongly resisted any kind of central authority over the money system. The Federal Reserve Act was finally passed in 1913 when Woodrow Wilson was president. One of the most persistent proponents of a Federal Reserve as Carter Glass, a representative from Virginia. Later as a Senator he would put his name on the Glass-Steagall Act. Though the Federal Reserve Board alone was not able to prevent the Great Depression of the 1930s it's creation was a step in the right direction. America's Bank does tell how the Fed was created but it will require reading another book to fully understand how the Fed works. I have not found that book yet.… (mais)