Here’s my review of Lev Menand, The Unbound Fed, Ben Bernanke, Monetary Policy in the 21st Century, and Edward Chancellor, The Price of Time, three new books by real pros which demonstrate that, as even Alan Greenspan—yeah, him—recognized, “markets are not ends in themselves,” but are rather means to ends we can decide democratically. Menand’s book is the best ever on the Fed, and I should know, I’ve read ‘em all and even wrote one. This link will get you around the Project Syndicate paywall, thanks to Jonathan Stein, but a subscription is worth considering: it’s the most eclectic publication I know, politically and intellectually, and in these strange times that is a huge compliment.
https://www.project-syndicate.org/onpoint/review-of-menand-bernanke-chancellor-on-crisis-and-federal-reserve-by-james-livingston-2022-12?h=Ax%2f%2bJETdor4hdgYmP45va8IQ6aIR7o0aohU5Lrw9W6o%3d