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Stanley Black
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A Levite Among The Priests
This book consists of a set of conversations with Edward Bernstein, whose long life has taken him from his student days at Chicago and Harvard in the 1920s to his present-day role, at the age of 86, as an active analyst of monetary affairs. In between, he has been a college professor, principal economist at the Treasury Department during World War
Productivity Growth and the Competitiveness of the American Economy
swollen with deutschemarks and yen newly created to purchase unwanted dollars from the markets. When the Bundesbank and the Bank of Japan began to raise their interest rates to slow domestic monetary expansion, the fabric of international monetary cooperation began to unravel. Amid charge and counter-charge by disgruntled fmance ministers, the dollar dropped further and interest rates jumped upward, leading to panic in the stock market on Black Monday. Fortunately, a steady hand and generous supply of credit from the Federal Reserve System prevented massive bankruptcies among Wall Street brokerage houses and a collapse of the credit system. But the world-wide reverberations of the Wall Stree...
