Showing results by author "Lawrence R. Jacobs" in All Categories

Much of the attention paid to Trump's rise to power has focused on his corrosive personality and divisive style of governing. But he alone is not the problem. The vulnerability is much broader and deeper. The ascendance of Trump is the culmination of nearly 250 years of political reforms that gradually ceded party nominations to small cliques of ideologically motivated party activists, interest groups, and donors. Author Lawrence Jacobs provides a highly engaging history of political reforms since the late-eighteenth century that over time dangerously weakened democracy.

The Federal Reserve is the most powerful central bank in the world. Without its central bank, America would be subject to devastating fluctuations in currency value and chronic economic instability. To stabilize the economy, the Fed adjusts interest rates and intervenes in the economy more directly when appropriate. According to most Fed observers, it as an impartial referee exercising its independence free from political interference in order to advance the best interests of America.