Word: greider
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...Greider documents the fact that the Federal Reserve usually pursues tight- money policies that favor the interests of rather than borrowers. He holds the Fed responsible for virtually every recession that has occurred in its 74 years of existence. Like many economists, Greider argues that the governors were to blame for the severity of the Great Depression of the 1930s...
...economy stand at a turning point, the timing could hardly be better for the appearance of Secrets of the Temple: How the Federal Reserve Runs the Country (Simon & Schuster; 798 pages; $24.95) by William Greider, the national editor of Rolling Stone magazine. Greider, whose 1981 Atlantic article revealed David Stockman's secret doubts about Reaganomics and caused the President to take his young budget director "to the woodshed," is once again at his provocative best. The book, which takes its name from the fact that in ancient times the creation of money often occurred in temples, is a lucid...
...also a historical and analytical work of impressive breadth and depth. Greider sees the past 100 years of U.S. financial history as a continuous battle between the holders of the wealth, including investors and bankers, and the people who borrow the money, such as farmers, businessmen and consumers. In his analysis, Greider takes a viewpoint that is heretical to Wall Street. Like the prairie Populists of the late 19th century, he argues that moderate inflation is beneficial to the common man. Economic growth is spurred by inflation as long as it does not get out of control. More important...
...notable exception to the Fed's pattern of austerity was the reign of Chairman Arthur Burns. Despite his reputation as an inflation fighter, Burns sometimes sanctioned stimulative policies. Part of his motivation seems, in Greider's view, to have been political, especially when the chairman expanded the money supply rapidly during Richard Nixon's re-election campaign...
...other side and some by the League, which wanted a mix of sex and race of reporters and in type of news organizations represented. A senior White House official said that the Reagan campaign had excluded three reporters, on what appeared to be a political basis: William Greider of Rolling Stone, whose Atlantic Monthly interviews with Budget Director David Stockman raised questions about the integrity of the Reagan budget-planning process; Nashville Tennessean Editor John Siegen-thaler, who served in the Kennedy Administration; and Jerrold Schechter of Esquire, a former TIME correspondent who served in the Carter Administration...