{"product_id":"engine-of-inequality-9781119726746","title":"Engine of Inequality","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003eThe first book to reveal how the Federal Reserve holds the key to making us more economically equal, written by an author with unparalleled expertise in the real world of financial policy Following the 2008 financial crisis, the Federal Reserve's monetary policy placed much greater focus on stabilizing the market than on helping struggling Americans. As a result, the richest Americans got a lot richer while the middle class shrank and economic and wealth inequality skyrocketed. In Engine of Inequality, Karen Petrou offers pragmatic solutions for creating more inclusive monetary policy and equality-enhancing financial regulation as quickly and painlessly as possible.    Karen Petrou is a leading financial-policy analyst and consultant with unrivaled knowledge of what drives the decisions of federal officials and how big banks respond to financial policy in the real world. Instead of proposing legislation that would never pass Congress, the author provides an insider's look at politicall\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003e\u003cp\u003eAcknowledgments xi\u003c\/p\u003e \u003cp\u003eAbout the Author xiii\u003c\/p\u003e \u003cp\u003eIntroduction xv\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 \u003c\/b\u003e\u003cb\u003eInequality: Why It’s So Much Worse and What to Do About It 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat We Know about Inequality that Economists Don’t 4\u003c\/p\u003e \u003cp\u003eThe Economic-Recovery Mirage 5\u003c\/p\u003e \u003cp\u003eWhy So Unequal So Fast? 7\u003c\/p\u003e \u003cp\u003eRegulatory Wreckage 12\u003c\/p\u003e \u003cp\u003eHow to Fix Financial Policy 14\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 \u003c\/b\u003e\u003cb\u003eHow Unequal Are We? 18\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEconomic Inequality Fundamentals 19\u003c\/p\u003e \u003cp\u003eWho Has How Much 22\u003c\/p\u003e \u003cp\u003eWhat of Wealth? 24\u003c\/p\u003e \u003cp\u003eThe Inequality Engine 24\u003c\/p\u003e \u003cp\u003eWorse Than That 25\u003c\/p\u003e \u003cp\u003eThe Most Inclusive Ever? 27\u003c\/p\u003e \u003cp\u003eThe Great Financial Crisis and Its Equality Aftermath 29\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 \u003c\/b\u003e\u003cb\u003eWhat Makes Us So Unequal 32\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Mechanical Engineering of Economic Inequality 34\u003c\/p\u003e \u003cp\u003eDeath and Taxes 35\u003c\/p\u003e \u003cp\u003eThe Role of Transfer Payments 37\u003c\/p\u003e \u003cp\u003eA Supply-Side Solution? 38\u003c\/p\u003e \u003cp\u003ePublic Wealth: A Sputtering Part in the Equality Engine 39\u003c\/p\u003e \u003cp\u003eIs Education the Answer? 41\u003c\/p\u003e \u003cp\u003eIs Trade Policy a Problem? 42\u003c\/p\u003e \u003cp\u003eGlobal Policy Reform? 43\u003c\/p\u003e \u003cp\u003eWhat to Do? 45\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 \u003c\/b\u003e\u003cb\u003eWhy Does Economic Inequality Matter So Much? 46\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInequality and Mortality 47\u003c\/p\u003e \u003cp\u003ePolitical Polarization 49\u003c\/p\u003e \u003cp\u003eInequality’s Eviscerating Cost 50\u003c\/p\u003e \u003cp\u003eInequality and the Long Recession 52\u003c\/p\u003e \u003cp\u003eFinancial-Crisis Risk 53\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 \u003c\/b\u003e\u003cb\u003eFollowing the Money 55\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHow Central Banks Work 57\u003c\/p\u003e \u003cp\u003eThe Modern Monetary-Policy Construct 60\u003c\/p\u003e \u003cp\u003eThe Fed’s Bailout Buckets 62\u003c\/p\u003e \u003cp\u003eThe Fed’s Payment Powers 64\u003c\/p\u003e \u003cp\u003eRules of the Financial Road 65\u003c\/p\u003e \u003cp\u003eFour Fundamental Financial-Policy Flaws 69\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 \u003c\/b\u003e\u003cb\u003eHow Monetary Policy Made Most of Us Poorer 73\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Fed’s Heavy Hand 76\u003c\/p\u003e \u003cp\u003eWhy It’s the Fed’s Fault 77\u003c\/p\u003e \u003cp\u003eHow Ultra-Low Interest Rates Made America Still Less Equal and QE Still More Inequitable 80\u003c\/p\u003e \u003cp\u003eThe High Cost of Low-Rate Debt 83\u003c\/p\u003e \u003cp\u003eThe Low-Unemployment Myth 85\u003c\/p\u003e \u003cp\u003eThe Anti-Wealth Effect 87\u003c\/p\u003e \u003cp\u003eMaking Matters Still Worse 91\u003c\/p\u003e \u003cp\u003eA Bigger Fed, Lower Rates, an Extreme Financial Crisis 93\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 \u003c\/b\u003e\u003cb\u003eHow to Make Monetary Policy Make Us More Equal 95\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Aggregate-Data Error 98\u003c\/p\u003e \u003cp\u003eThe Fed’s Real Mandate 102\u003c\/p\u003e \u003cp\u003eThe Fourth Mandate 104\u003c\/p\u003e \u003cp\u003eThe Fed’s Giant Faucet 105\u003c\/p\u003e \u003cp\u003ePossible Solutions 108\u003c\/p\u003e \u003cp\u003eSlowing the Inequality Engine 111\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 \u003c\/b\u003e\u003cb\u003eReckoning with Regulation 113\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eConsumer Finance Before the Crash 115\u003c\/p\u003e \u003cp\u003eAre Debtors Just Deadbeats? 117\u003c\/p\u003e \u003cp\u003eAre Banks to Blame? 118\u003c\/p\u003e \u003cp\u003eThe Businesses Banks Left Behind 120\u003c\/p\u003e \u003cp\u003eOther Precursors of the Crash That Came 121\u003c\/p\u003e \u003cp\u003eCapitalism and Capital Regulation 123\u003c\/p\u003e \u003cp\u003eA Capital Cure 127\u003c\/p\u003e \u003cp\u003eGoing with the Flow 128\u003c\/p\u003e \u003cp\u003eDeath without Destruction 130\u003c\/p\u003e \u003cp\u003eThe Consumer-Protection Quagmire 131\u003c\/p\u003e \u003cp\u003eAn Unreadable Rulebook Thrown Only at Banks 133\u003c\/p\u003e \u003cp\u003eThe Bleak Outlook and a Better Future 134\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 \u003c\/b\u003e\u003cb\u003eRemaking Money 137\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Money Is and Will Be 139\u003c\/p\u003e \u003cp\u003eThe Great Unequalizer 141\u003c\/p\u003e \u003cp\u003eTurning Money into Data 143\u003c\/p\u003e \u003cp\u003eWhat Makes Money Good Money 145\u003c\/p\u003e \u003cp\u003eCrafting a Good Digital Dollar 146\u003c\/p\u003e \u003cp\u003eHow Money Moves 148\u003c\/p\u003e \u003cp\u003eThe Central-Bank Solution 151\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 \u003c\/b\u003e\u003cb\u003eRules to Equitably Live By 153\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhy Not Just Deregulate? 156\u003c\/p\u003e \u003cp\u003eLearning to Love Like-Kind Rules 158\u003c\/p\u003e \u003cp\u003eThe Specifics of Symmetric Regulation 161\u003c\/p\u003e \u003cp\u003eRaising Up the Regulatory Playing Field 162\u003c\/p\u003e \u003cp\u003eBuilding a New, Equality-Focused Banking System 165\u003c\/p\u003e \u003cp\u003eBanking While Mailing 166\u003c\/p\u003e \u003cp\u003eEstablishing Equality Banks 168\u003c\/p\u003e \u003cp\u003eNew Money for a New Mission 170\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 \u003c\/b\u003e\u003cb\u003eFinancial Policy for an Equitable Future 175\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTurning the Fed into a Force for Good 176\u003c\/p\u003e \u003cp\u003eThe Fed’s Failings 178\u003c\/p\u003e \u003cp\u003eThe Fed’s Equality Toolkit 178\u003c\/p\u003e \u003cp\u003eThe First Fix: Understanding America as It Is 180\u003c\/p\u003e \u003cp\u003eThe Second Fix: Set an Equality Plan and Say So 181\u003c\/p\u003e \u003cp\u003eThe Third Fix: A Far Smaller Fed Portfolio 183\u003c\/p\u003e \u003cp\u003eThe Fourth Fix: Normal, Moderate Interest Rates 187\u003c\/p\u003e \u003cp\u003eThe Final Fix: Ensuring Financial Stability 188\u003c\/p\u003e \u003cp\u003eEnding the Doom Loop 190\u003c\/p\u003e \u003cp\u003eThe Future of Equitable Finance 192\u003c\/p\u003e \u003cp\u003eNotes 193\u003c\/p\u003e \u003cp\u003eIndex 241\u003c\/p\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":49407133090135,"sku":"9781119726746","price":19.54,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9781119726746.jpg?v=1730498296","url":"https:\/\/bookcurl.com\/products\/engine-of-inequality-9781119726746","provider":"Book Curl","version":"1.0","type":"link"}