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Essay / Research Paper Abstract
This 7 page paper provides a timeline of events during the 1800s and 1900s and how monetary policy has been implemented in the United States. How monetary policy is embraced by politicians and political parties is also discussed. Bibliography lists 10 sources.
Page Count:
7 pages (~225 words per page)
File: RT13_SA413mon.rtf
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Unformatted sample text from the term paper:
1. Keynesianism 2. Milton Friedmans monetarism (conservative position) III. History 1. Banking in the 1800s a. Rhode Islands Farmers Exchange Banks 1809 disaster b.
War of 1812 c. Panic of 1837 2. Latter part of the nineteenth century a. Time period between 1873 and 1878 b. Late 1800s and early 1900s
3. Nineteenth century a. Credit crises of 1907 b. FRB 1913 4. Twentieth Century a. 1920s b. 1929 and 1987 crashes c. Banking
Act of 1933 III. Conclusion Parties are more aligned today than they used to be in terms of ideology on monetary policy.
The path of United States monetary policy from the mid-nineteenth century through the present time has endured twists and turns. Most notably in 1913
the Federal Reserve was created. Today, everyone waits for Alan Greenspan to speak. What will he say? What will his decisions do to the economy? Of course, there has
historically been disagreement in terms of what is desirable by the executive and legislative branches, and by people in general. There are theories behind monetary policy debates and these are
the theories that provide people in politics with support for their positions. Keynes was an English economist and rejected the larger part of neoclassical economicsi . He asserted
that economies could be in equilibrium even at less than full employment but it was actually their obligation to create taxing and spending policies and to take a proactive
role in increasing employmentii . The idea caught on. Keynes was a major influence and many governments followed his ideologyiii . At the same time, modern monetarists hold that the
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