Senator Robert Owen of Oklahoma and the Federal Reserve's Formative Years
探讨了参议员罗伯特·欧文在20世纪初美联储创建中的关键作用,他推动建立准公共、去中心化的央行结构,并批评了1920年代和1930年代对农业经济有害的通缩政策。
U.S. Senator Robert Owen of Oklahoma played a key role in the formation of the Federal Reserve in the early twentieth century. He championed the creation of a quasi-public central bank with a decentralized structure. Author Chad Wilkerson explores how Senator Owen contributed to the Fed's early development and sought a Fed structure that would avoid placing too much control either in a centralized agency in Washington, D.C., or in a small number of Wall Street bankers. Owen generally praised the Fed's early performance but became a critic in the early 1920s, and again in the 1930s, when its deflationary policies were especially harmful to the agricultural economy of his home region.