The Government of Money: Monetarism in Germany and the United States

In recent years governments have increasingly given their central banks the freedom to pursue policies of price stability. In particular, the German Bundesbank and the U.S. Federal Reserve have been widely considered models of autonomous policymaking. This book traces the origins of their success to the political struggle to adopt monetarism in Germany and the United States.

The Government of Money contends that the political involvement of monetarist economists was central to this endeavor....