"This book brings together some of the greatest thought leaders and monetary policy scholars to examine how the Fed is being politicized and what that means for our economy." -Jeb Hensarling, Former Chairman, House Financial Services Committee The 2008 financial crisis and the Covid-19 pandemic greatly expanded the Fed's scope and power. Populism and the Future of the Fed features highly readable essays that avoid technical jargon and provide a broad perspective on core issues-including the populist challenge to Fed independence, fiscal dominance and the return of inflation, the limits of Fed power versus the expansion of its dual mandate, and the strange world of helicopter money and fiscal QE. One could argue that those who want the Fed to allocate credit, help fund a Green New Deal, engage in helicopter drops, and so on, are well intentioned. However, the real issue is whether such actions are consistent with long-run price stability and the rule of law. Thus, several questions come to mind. What are the limits to what the Fed can do and what it should do in a free society? Where do we draw the line between fiscal and monetary policy? Do we want an activist central bank with wide discretion or a limited central bank guided by a monetary rule? What are the risks populism poses for the conduct of monetary policy, Fed independence, and central bank credibility? And can the Fed control inflation if populism and fiscal QE become pervasive? The distinguished contributors to this volume address those questions in a clear and compelling manner that will help improve both policymakers' and the public's understanding of the complex relationship between politics, policy, and the rule of law.

Richard A. Naclerio investigates the events that surrounded the U.S. Federal Reserve's creation and the bankers, financiers, and economists who shaped its role over the next century. He sheds new light on the making of one of the world's most important financial institutions and how it came to have such crucial national and international influence.

"This book offers the first significant examination of the rise of neo-nationalism and its impact on the missions, activities, behaviors, and productivity of leading national universities. This book also presents the first major comparative exploration of the role of national politics and norms in shaping the role of universities in nation-states, and vice versa, and discusses when universities are societal leaders or followers-in promoting a civil society, facilitating talent mobility, in researching challenging social problems, or in reinforcing and supporting an existing social and political order"--

“This ambitious and provocative work . . . delves into white anxiety about the demographic decline of white populations in Western nations” (Publishers Weekly). “Whiteshift” is defined as the turbulent journey from a world of racially homogeneous white majorities to one of racially hybrid majorities. In this dada-driven study, political scientist Eric Kaufmann explores how these demographic changes across Western societies are transforming their politics. The early stages of this transformation have led to a populist disruption, tearing a path through the usual politics of left and right. If we want to avoid more radical political divisions, Kaufmann argues, we have to enable white conservatives as well as cosmopolitans to view whiteshift as a positive development. Kaufmann examines the evidence to explore ethnic change in North American and Western Europe. Tracing four ways of dealing with this transformation—fight, repress, flight, and join—he makes a persuasive call to move beyond empty talk about national identity. Deeply thought provoking, enriched with illustrative stories, and drawing on detailed and extraordinary survey, demographic, and electoral data, Whiteshift will redefine the way we discuss race in the twenty-first century.

"Populism, a political movement with anti-elite, authoritarian and nativist tendencies, typically spearheaded by a charismatic leader, is an old phenomenon but also a very new and disturbing one at that. The Populist Temptation is an effort to understand the wellsprings of populist movements and why the threat they pose to mainstream political parties and pluralistic democracy has been more successfully contained in some cases than others"--

The New Localism provides a roadmap for change that starts in the communities where most people live and work. In their new book, The New Localism, urban experts Bruce Katz and Jeremy Nowak reveal where the real power to create change lies and how it can be used to address our most serious social, economic, and environmental challenges. Power is shifting in the world: downward from national governments and states to cities and metropolitan communities; horizontally from the public sector to networks of public, private and civic actors; and globally along circuits of capital, trade, and innovation. This new locus of power—this new localism—is emerging by necessity to solve the grand challenges characteristic of modern societies: economic competitiveness, social inclusion and opportunity; a renewed public life; the challenge of diversity; and the imperative of environmental sustainability. Where rising populism on the right and the left exploits the grievances of those left behind in the global economy, new localism has developed as a mechanism to address them head on. New localism is not a replacement for the vital roles federal governments play; it is the ideal complement to an effective federal government, and, currently, an urgently needed remedy for national dysfunction. In The New Localism, Katz and Nowak tell the stories of the cities that are on the vanguard of problem solving. Pittsburgh is catalyzing inclusive growth by inventing and deploying new industries and technologies. Indianapolis is governing its city and metropolis through a network of public, private and civic leaders. Copenhagen is using publicly owned assets like their waterfront to spur large scale redevelopment and finance infrastructure from land sales. Out of these stories emerge new norms of growth, governance, and finance and a path toward a more prosperous, sustainable, and inclusive society. Katz and Nowak imagine a world in which urban institutions finance the future through smart investments in innovation, infrastructure and children and urban intermediaries take solutions created in one city and adapt and tailor them to other cities with speed and precision. As Katz and Nowak show us in The New Localism, “Power now belongs to the problem solvers.”

Contrary to warnings about the dangers of populism, Donald F. Critchlow argues that grassroots activism is essential to party renewal within a democratic system. Grassroots activism, presenting a cacophony of voices calling for reform of various sorts without programmatic coherence, is often derided as populist and distrusted by both political parties and voters. But according to Donald T. Critchlow, grassroots movements are actually responsible for political party transformation, both Democratic and Republic, into instruments of reform that reflect the interests, concerns, and anxieties of the electorate. Contrary to popular discourse warning about the dangers of populism, Critchlow argues that grassroots activism is essential to party renewal within a democratic system. In Defense of Populism examines movements that influenced Republican, Democratic, and third-party politics—from the Progressives and their influence on Teddy Roosevelt, to New Dealers and FDR, to the civil rights, feminist, and environmental movements and their impact on the Democratic Party, to the Reagan Revolution and the Tea Party. In each case, Critchlow narrates representative biographies of activists, party leaders, and presidents to show how movements become viable calls for reform that get translated into policy positions. Social tensions and political polarization continue to be prevalent today. Increased social disorder and populist outcry are expected whenever political elites and distant bureaucratic government are challenged. In Defense of Populism shows how, as a result of grassroots activism and political-party reform, policy advances are made, a sense of national confidence is restored, and the belief that American democracy works in the midst of crisis is affirmed.