Pitched to a general audience, "The Federal Reserve and the Financial Crisis" is part of the chairman's praiseworthy effort to increase Fed transparency. The first two lectures cover the origins and history of the Fed. Mr. Bernanke identifies three primary functions of central banks: to conduct monetary policy (i.e., controlling of the supply of money by setting interest rates); to serve as lenders of last resort (i.e., providing liquidity for important institutions to stave off financial crises); and to regulate the financial system (i.e., limiting the risks that banks and other players in financial markets may take). Yet he hardly discusses the quantity of money in circulation or the Feds effect on it. The omission reflects the fact that Mr. Bernanke has dramatically altered the nature of central banking. Under his management, the Fed now tries to determine to which sectors the economy's savings flow, and monetary policy has become solely about setting interest rates. To his credit, Mr. Bernanke considers the merits of the classical gold standard, in which the dollar was fully redeemable for a specific quantity of gold. He believes that its gains in long-run price stability were more than counterbalanced by the short-run economic fluctuations it caused. But as University of Georgia economist George Selgin pointed out after the lectures were delivered, the chairmans argument against the gold standard suffers from some severe weaknesses. For starters, it ignores the path-breaking research of Christina Romer, former chairman of President Obamas Council of Economic Advisers, which demonstrated that the frequency and severity of recessions werent significantly greater before the Feds creation in 1913 than after World War II. This casts doubt on the ability of the Fed with its fiat money to tame the business cycle any better than did the gold standard without the Feds intrusions.
This essay “The New Central Planning” investigates what role should the Federal Reserve play in the U.S. economy. Mr. Bernanke identifies three primary functions of central banks: to conduct monetary policy; to serve as lenders of last resort and to regulate the financial system…
This further enables the creation of a strategic plan that will dwell on maximizing the opportunities identified or fighting off the challenges that may be encountered. This process additionally helps new executives in various companies in comprehending the drivers of a certain business types while challenging their conformist methods of reasoning (Venturist Publishing, 2008).
This paper carefully studies four major benchmarks of quality enhancement including ISO 9001:2008, Six Sigma, Malcolm Baldrige National Quality Award and LEAN (LEAN Enterprise Institute). Substantial research has been conducted and each of the standards has been compared against these researches.
Its design took more than ten years to build, and the city had to use ten million dollars in building it. The reason for the building of the park was that, the Americans tried to refute the claims from European states that they did not have sense of civic duty, and gratitude towards cultural views, but instead had misplaced priorities driven by individualistic egos in expense of the public interest.
According to the paper early-year policy refers to the framework that deals with how the government protects the interests of children. These policies affect few states such as England and Wales. This essay will also discuss early year’s policy in relation to cost-cutting and targeting as dominant themes in the British government. The national child care strategy is an initiative that helps to maintain the early years and provision of necessary services in Britain .
The natural environment of the estuaries has greatly changed due to the change in temperature, nutrient levels and salinity. The changes in nutrient levels, salinity and temperature affect the habitual environment of the aquatic animals. The other form of pollution is oil which greatly affects the marine animals.
racy- as, he terms the rule of Putin in Russia, with the economic growth is not correct as there have been no historical precedence which can empirically prove that the autocracy can lead to the rapid economic growth.
This paper, however, seems to be a scathing criticism on