This study examines the history and operation of the Federal Reserve System (“the Fed”). It explores the Fed's origins in American economic history and emphasizes the political compromises that produced it. It seeks to provide an accessible explanation of how the Fed attempts to change the...

This study considers the ways in which government, whether through spending programs or regulations, has made it more difficult for people to find their way out of poverty. It argues that when considering new regulations or eliminating existing ones, policymakers should pay more attention to the...