America's Money Machine: The Story of the Federal Reserve

Elgin Groseclose, an eminent monetary economist in the 20th-century, rips the roof off the Federal Reserve in this wonderful history that takes us from the Fed's founding to the 1960s. He shows that the gap between the promise and the reality is shockingly massive, so much so that the Federal Reserve must be considered one of the greatest failures in the history of public policy.

Grosecloses's treatise on the subject contains research unavailable anywhere else. He was meticulous, having spen...