Edited by Gerald A. Epstein, Professor of Economics and Co-Director, Political Economy Research Institute (PERI), University of Massachusetts, Amherst, US, Tom Schlesinger, formerly at Financial Markets Center and Matías Vernengo, Full Professor, Bucknell University, US

'Jane D'Arista is one of those towering figures who thinks way ahead of the conventional understandings. A generation ago she recognized the distorted architecture of finance and banking and described in lucid detail the reform agenda for restoring a stable and equitable system. Written in the tradition of D'Arista, the essays in this important collection point the way toward overcoming the recurrent financial disorders of our gilded age. Like Jane D'Arista's work, this timely volume demands the attention of both policy experts and the politicians who must do the reconstruction.'

• Contents:PART I: APPRECIATION AND INTRODUCTION1. Jane D’Arista: An AppreciationTom Schlesinger2. IntroductionGerald A. Epstein, Tom Schlesinger and Matías VernengoPART II: FEDERAL RESERVE POLICY3. From Milton Friedman to Jane D’Arista: The Financial Crisis and the Dilemma Facing the Central BanksJames K. Galbraith4. Federal Reserve Priorities and the Influence of Capital: The Evolution of Monetary Policy in the Postwar PeriodMartin H. Wolfson5. Heterodox Central Bankers: Eccles, Prebisch and Financial Reform Matías Vernengo and Esteban Pérez CaldenteyPART III: FINANCIAL HISTORY AND INSTITUTIONS6. Nurturing US Securities Firms: A Century of Public PolicyRobert N. McCauley7. Lessons from the Glass-Steagall ActEllen D. Russell8. The Financial Trilemma and the Future of American BankingGary A. Dymski9. Boulevard to Broken Dreams: The Standards-Surveillance-Compliance System in the Run-up to the Crash of 2008Robert H. WadePART IV: GLOBAL FINANCE10. Would a North American Monetary Union Protect Canada and Mexico Against the Ravages of ‘Dutch Disease’? A Post-Financial Crisis PerspectiveRobert A. Blecker and Mario Seccareccia11. Rethinking the Economics of Capital Mobility and Capital ControlsThomas Palley12. Global Economic Volatility and Slap-Dash Repairs to the International Financial ArchitecturePatrick BondPART V: THEORETICAL CONSIDERATIONS13. Liquidity, Leverage, and Financial InstabilityLance Taylor14. The Decline of Traditional Banking and Endogenous MoneyKorkut Ertürk and Gökçer Özgür15. A New Measure of Liquidity PremiumPerry Mehrling and Daniel H. Nielson16. The Last Refuge of Scoundrels: Keynes-Minsky Perspectives on the Uses and Abuses of the ‘Liquidity Defense’James Crotty and Gerald A. Epstein17. A Note on Growth and Distribution Dynamics in an Economy with Population AgeingCodrina RadaIndex

Edited by Gerald A. Epstein, Professor of Economics and Co-Director, Political Economy Research Institute (PERI), University of Massachusetts, Amherst, US, Tom Schlesinger, formerly at Financial Markets Center and Matías Vernengo, Full Professor, Bucknell University, US

'Jane D'Arista is one of those towering figures who thinks way ahead of the conventional understandings. A generation ago she recognized the distorted architecture of finance and banking and described in lucid detail the reform agenda for restoring a stable and equitable system. Written in the tradition of D'Arista, the essays in this important collection point the way toward overcoming the recurrent financial disorders of our gilded age. Like Jane D'Arista's work, this timely volume demands the attention of both policy experts and the politicians who must do the reconstruction.'

• Contents:PART I: APPRECIATION AND INTRODUCTION1. Jane D’Arista: An AppreciationTom Schlesinger2. IntroductionGerald A. Epstein, Tom Schlesinger and Matías VernengoPART II: FEDERAL RESERVE POLICY3. From Milton Friedman to Jane D’Arista: The Financial Crisis and the Dilemma Facing the Central BanksJames K. Galbraith4. Federal Reserve Priorities and the Influence of Capital: The Evolution of Monetary Policy in the Postwar PeriodMartin H. Wolfson5. Heterodox Central Bankers: Eccles, Prebisch and Financial Reform Matías Vernengo and Esteban Pérez CaldenteyPART III: FINANCIAL HISTORY AND INSTITUTIONS6. Nurturing US Securities Firms: A Century of Public PolicyRobert N. McCauley7. Lessons from the Glass-Steagall ActEllen D. Russell8. The Financial Trilemma and the Future of American BankingGary A. Dymski9. Boulevard to Broken Dreams: The Standards-Surveillance-Compliance System in the Run-up to the Crash of 2008Robert H. WadePART IV: GLOBAL FINANCE10. Would a North American Monetary Union Protect Canada and Mexico Against the Ravages of ‘Dutch Disease’? A Post-Financial Crisis PerspectiveRobert A. Blecker and Mario Seccareccia11. Rethinking the Economics of Capital Mobility and Capital ControlsThomas Palley12. Global Economic Volatility and Slap-Dash Repairs to the International Financial ArchitecturePatrick BondPART V: THEORETICAL CONSIDERATIONS13. Liquidity, Leverage, and Financial InstabilityLance Taylor14. The Decline of Traditional Banking and Endogenous MoneyKorkut Ertürk and Gökçer Özgür15. A New Measure of Liquidity PremiumPerry Mehrling and Daniel H. Nielson16. The Last Refuge of Scoundrels: Keynes-Minsky Perspectives on the Uses and Abuses of the ‘Liquidity Defense’James Crotty and Gerald A. Epstein17. A Note on Growth and Distribution Dynamics in an Economy with Population AgeingCodrina RadaIndex

Edited by Gerald A. Epstein, Professor of Economics and Co-Director, Political Economy Research Institute (PERI), University of Massachusetts, Amherst, US, Tom Schlesinger, formerly at Financial Markets Center and Matías Vernengo, Full Professor, Bucknell University, US

'Jane D'Arista is one of those towering figures who thinks way ahead of the conventional understandings. A generation ago she recognized the distorted architecture of finance and banking and described in lucid detail the reform agenda for restoring a stable and equitable system. Written in the tradition of D'Arista, the essays in this important collection point the way toward overcoming the recurrent financial disorders of our gilded age. Like Jane D'Arista's work, this timely volume demands the attention of both policy experts and the politicians who must do the reconstruction.'

• Contents:PART I: APPRECIATION AND INTRODUCTION1. Jane D’Arista: An AppreciationTom Schlesinger2. IntroductionGerald A. Epstein, Tom Schlesinger and Matías VernengoPART II: FEDERAL RESERVE POLICY3. From Milton Friedman to Jane D’Arista: The Financial Crisis and the Dilemma Facing the Central BanksJames K. Galbraith4. Federal Reserve Priorities and the Influence of Capital: The Evolution of Monetary Policy in the Postwar PeriodMartin H. Wolfson5. Heterodox Central Bankers: Eccles, Prebisch and Financial Reform Matías Vernengo and Esteban Pérez CaldenteyPART III: FINANCIAL HISTORY AND INSTITUTIONS6. Nurturing US Securities Firms: A Century of Public PolicyRobert N. McCauley7. Lessons from the Glass-Steagall ActEllen D. Russell8. The Financial Trilemma and the Future of American BankingGary A. Dymski9. Boulevard to Broken Dreams: The Standards-Surveillance-Compliance System in the Run-up to the Crash of 2008Robert H. WadePART IV: GLOBAL FINANCE10. Would a North American Monetary Union Protect Canada and Mexico Against the Ravages of ‘Dutch Disease’? A Post-Financial Crisis PerspectiveRobert A. Blecker and Mario Seccareccia11. Rethinking the Economics of Capital Mobility and Capital ControlsThomas Palley12. Global Economic Volatility and Slap-Dash Repairs to the International Financial ArchitecturePatrick BondPART V: THEORETICAL CONSIDERATIONS13. Liquidity, Leverage, and Financial InstabilityLance Taylor14. The Decline of Traditional Banking and Endogenous MoneyKorkut Ertürk and Gökçer Özgür15. A New Measure of Liquidity PremiumPerry Mehrling and Daniel H. Nielson16. The Last Refuge of Scoundrels: Keynes-Minsky Perspectives on the Uses and Abuses of the ‘Liquidity Defense’James Crotty and Gerald A. Epstein17. A Note on Growth and Distribution Dynamics in an Economy with Population AgeingCodrina RadaIndex