Aaron Wistar is an editorial assistant at Harvard University Press. He received a PhD in history of consciousness at University of California, Santa Cruz.
Defenders of the Federal Reserve often argue that we should just let the bank “do its job.” But a recent book shows that democratic forces have challenged this sharp separation between politics and economics throughout America’s history.
After its poor handling of the Eurozone debt crisis in the 2010s, the European Central Bank has created a mechanism to provide support to bondholders across the bloc, protecting creditors from the consequences of rate hikes. Workers will not be so lucky.