J. Lawrence Broz is Associate Professor and Director of Graduate Studies in the Department of Political Science at the University of California, San Diego.
A valuable book that opens a new perspective on the origins of the
nation's most powerful financial institution.
*Journal of American History*
According to Broz, opportunities for the U.S. to become an
international financial center constituted a major motive in the
formation of the Federal Reserve System.
*Choice*
Essential reading in upper-division and graduate courses on money
and banking and political economy. Broz has contributed an
important and, until now, neglected element to the explanation of
the origins of the Federal Reserve.
*Perspectives on Political Science*
If you have an interest in central bank theory, get this book. If
you have an interest in macroeconomic history, get this book. If
you have an interest in the origin and evolution of political
institutions, get this book. Lawrence Broz presents an original and
thought-provoking account of the origins of the Federal Reserve
System that is a must read for students of central bank theory,
history, and policy analysis.... Broz sheds new light on the
'origins' issue.... The International Origins of the Federal
Reserve System is as close as possible to an academic
'can't-put-it-down' book. For those whose interest is sparked by
the title, you will not be disappointed by this highly readable and
original work.
*Journal of Economic History*
This fine book does, as promised, explain the emergence of central
banking in the United States. That's value enough, but beyond that,
the book provides leverage for handling an important collective
action problem in the rationalist account of the creation of
institutions.... The functionalism in efficiency explanations of
institutions has always been a weakness, for it cannot explain the
micro-incentives needed for action. Broz's approach provides a key
conceptual road map out of that bind. The argument is of very great
interest for understanding current battles over financial
institutions around the world. And it is of great interest to
students of institutional creation and design more broadly.
*Political Science Quarterly*
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