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To the Edge
Were the radical steps taken by the Treasury Department and Federal Reserve to avert the financial crisis legal? When and why did political elites and the general public question the legitimacy of the government's responses to the crisis? In To The Edge: Legality, Legitimacy, and the Responses to the 2008 Financial Crisis, Philip Wallach chronicles and examines the legal and political controversies surrounding the government's responses to the recent financial crisis. The economic devastation left behind is well-known, but some allege that even more lasting harm was inflicted on America's rule of law tradition and government legitimacy by the ambitious attempts to limit the fallout. In probi...
Why Congress
"To achieve legitimate self-government in America's extended Republic, the U.S. Constitution depends on Congress harmonizing the country's factions through a process of conflict and accommodation. Why Congress demonstrates the value of this activity by showing the legislature's distinctive contributions in two crucial moments in the mid-twentieth century: during World War II, when congressional deliberation contributed to national cohesion by balancing interests and ensuring fairness, and during the push to end racial segregation, when a prolonged debate in Congress focused the nation's attention and delivered a decisive victory for the broad coalition united around civil rights. The second ...
Why Congress
"To achieve legitimate self-government in America's extended Republic, the U.S. Constitution depends on Congress harmonizing the country's factions through a process of conflict and accommodation. Why Congress demonstrates the value of this activity by showing the legislature's distinctive contributions in two crucial moments in the mid-twentieth century: during World War II, when congressional deliberation contributed to national cohesion by balancing interests and ensuring fairness, and during the push to end racial segregation, when a prolonged debate in Congress focused the nation's attention and delivered a decisive victory for the broad coalition united around civil rights. The second ...
Trade Is Not a Four-Letter Word
“A sprightly and clear-eyed testimonial to the value of globalization” (The Wall Street Journal) as seen through six surprising everyday goods—the taco salad, the Honda Odyssey, the banana, the iPhone, the college degree, and the blockbuster HBO series Game of Thrones. Trade allows us to sell what we produce at home and purchase what we don’t. It lowers prices and gives us greater variety and innovation. Yet understanding our place in the global trade network is rarely simple. Trade has become an easy excuse for struggling economies, a scapegoat for our failures to adapt to a changing world, and—for many Americans on both the right and the left—nothing short of a four-letter word...
Preventing Regulatory Capture
Leading scholars from across the social sciences present empirical evidence that the obstacle of regulatory capture is more surmountable than previously thought.
Unelected Power
Tucker presents guiding principles for ensuring that central bankers and other unelected policymakers remain stewards of the common good.
Finance and Philosophy
Taking the 2008 financial crisis as his jumping off point, Alex Pollock deftly illustrates how private firms and governments alike have failed to understand the shifting risks that financial systems create. With candor, clarity, and wit, he uncovers the persistent uncertainties inherent in banking, central banking, and economics. “At the height of the 2008 financial panic, Queen Elizabeth plaintively asked why nobody saw it coming. In the winning pages of Finance and Philosophy, Her Majesty can find the answer. With a lightness of touch that belies the complexity of his subject, Alex Pollock shows why the financial future is now, why it has been and always must be a closed book. A successf...
The Deep Places
NEW YORK TIMES EDITORS’ CHOICE • In this vulnerable, insightful memoir, the New York Times columnist tells the story of his five-year struggle with a disease that officially doesn’t exist, exploring the limits of modern medicine, the stories that we unexpectedly fall into, and the secrets that only suffering reveals. “A powerful memoir about our fragile hopes in the face of chronic illness.”—Kate Bowler, bestselling author of Everything Happens for a Reason In the summer of 2015, Ross Douthat was moving his family, with two young daughters and a pregnant wife, from Washington, D.C., to a sprawling farmhouse in a picturesque Connecticut town when he acquired a mysterious and devas...
How America’s Political Parties Change (and How They Don’t)
The election of 2016 prompted journalists and political scientists to write obituaries for the Republican Party—or prophecies of a new dominance. But it was all rather familiar. Whenever one of our two great parties has a setback, we’ve heard: “This is the end of the Democratic Party,” or, “The Republican Party is going out of existence.” Yet both survive, and thrive. We have the oldest and third oldest political parties in the world—the Democratic Party founded in 1832 to reelect Andrew Jackson, the Republican Party founded in 1854 to oppose slavery in the territories. They are older than almost every American business, most American colleges, and many American churches. Both ...
Congress Overwhelmed
Congress today is falling short. Fewer bills, worse oversight, and more dysfunction. But why? In a new volume of essays, the contributors investigate an underappreciated reason Congress is struggling: it doesn’t have the internal capacity to do what our constitutional system requires of it. Leading scholars chronicle the institutional decline of Congress and the decades-long neglect of its own internal investments in the knowledge and expertise necessary to perform as a first-rate legislature. Today’s legislators and congressional committees have fewer—and less expert and experienced—staff than the executive branch or K Street. This leaves them at the mercy of lobbyists and the administrative bureaucracy. The essays in Congress Overwhelmed assess Congress’s declining capacity and explore ways to upgrade it. Some provide broad historical scope. Others evaluate the current decay and investigate how Congress manages despite the obstacles. Collectively, they undertake the most comprehensive, sophisticated appraisal of congressional capacity to date, and they offer a new analytical frame for thinking about—and improving—our underperforming first branch of government.
