We develop a perspective on where Bernanke is taking the Federal Reserve by drawing from Paul Davidson's Post Keynesian analyses of the current financial crisis and the Federal Reserve as an effective market maker and Thorstein Veblen's perception that the Federal Reserve was supporting...

Alan Greenspan claims that modern financial innovations, especially financial derivatives, were major contributors to a Schumpeterian process of 'creative destruction' which produced a high-growth 'New Economy' and opposes their regulation. A different perspective emerges when it is recognised...

The Greenspan---Bernanke doctrine on how the Federal Reserve responds to stock market bubbles reflects an ideological allegiance to the rational markets theories of stock prices while reluctantly accepting the analytical insights of the speculative markets theories of the Post Keynesians and...

Purpose – In speeches and testimonies, Alan Greenspan claimed intellectual links between his financial policies and the ideas of Milton Friedman and Joseph A. Schumpeter on banks, central banks, and financial crises. As the financial crisis deepened in 2008, Greenspan admitted that his...

Purpose – Because belief in a supernatural agent with extraordinary power is rooted in psychology, Veblen's instinct psychology was the essential basis for his evolutionary economics of religion. The innate behavioral traits that Veblen called instincts in human nature are now recognized in...

Purpose – In speeches and testimonies, Alan Greenspan claimed intellectual links between his financial policies and the ideas of Milton Friedman and Joseph A. Schumpeter on banks, central banks, and financial crises. As the financial crisis deepened in 2008, Greenspan admitted that his...