"Following the 2008 financial crisis, the Federal Reserve’s monetary policy placed much greater focus on stabilizing the market than on helping struggling Americans. As a result, the richest Americans got a lot richer while the middle class shrank and economic and wealth inequality skyrocketed. In Engine of Inequality, Karen Petrou offers pragmatic solutions for creating more inclusive monetary policy and equality-enhancing financial regulation as quickly and painlessly as possible.
Karen Petrou is a leading financial-policy analyst and consultant with unrivaled knowledge of what drives the decisions of federal officials and how big banks respond to financial policy in the real world. Instead of proposing legislation that would never pass Congress, the author provides an insider's look at politically plausible, high-impact financial policy fixes that will radically shift the equality balance. Offering an innovative, powerful, and highly practical solution for immediately turning around the enormous nationwide problem of economic inequality, this groundbreaking book:
Presents practical ways America can and should tackle economic inequality with fast-acting results
Provides revealing examples of exactly how bad economic inequality in America has become no matter how hard we all work
Demonstrates that increasing inequality is disastrous for long-term economic growth, political action, and even personal happiness
Explains why your bank's interest rates are still only a fraction of what they were even though the rich are getting richer than ever, faster than ever
Reveals the dangers of FinTech and BigTech companies taking over banking
Shows how Facebook wants to control even the dollars in your wallet
Discusses who shares the blame for our economic inequality, including the Fed, regulators, Congress, and even economists
Engine of Inequality: The Fed and the Future of Wealth in America should be required reading for leaders, policymakers, regulators, media professionals, and all Americans wanting to ensure that the nation’s financial policy will be a force for promoting economic equality."
In the Mattei video I mentioned below, one of the book club members mentioned this book, which sounds interesting: [Engine of Inequality: The Fed and the Future of Wealth in America eBook : Petrou, Karen: Kindle Store](https://www.amazon.com/Engine-Inequality-Future-Wealth-America-ebook/dp/B08WRMTB61/ref=tmm_kin_swatch_0?_encoding=UTF8&dib_tag=se&dib=eyJ2IjoiMSJ9.V6PBcRCobF4gWP5ef4XK-PdXaPhA4PVfwnH5AKq_-PVK9QfYcr2ym6_UEZG-zcJJpoeZSrKqvcdJ09s6PCGxLnplA25HSCkcPlH5uEvfhlgrBC8NB6nAifn0ON1kCGVuyworM3mIxBt9jO_0bgAcEPc2rB1T_6IqP_fP4f_q8nJnSlhvc53MW-C4XrW3eEv77Jfj4prNWs1bNUf0lj3MNS_nllBDgvGg2x6YaCGvjl0.OvFLAMzUVPazhDA7VNN6bJDSD0-rG3e6LTBMueqwaNM&qid=1716150548&sr=8-1)
"Following the 2008 financial crisis, the Federal Reserve’s monetary policy placed much greater focus on stabilizing the market than on helping struggling Americans. As a result, the richest Americans got a lot richer while the middle class shrank and economic and wealth inequality skyrocketed. In Engine of Inequality, Karen Petrou offers pragmatic solutions for creating more inclusive monetary policy and equality-enhancing financial regulation as quickly and painlessly as possible.
Karen Petrou is a leading financial-policy analyst and consultant with unrivaled knowledge of what drives the decisions of federal officials and how big banks respond to financial policy in the real world. Instead of proposing legislation that would never pass Congress, the author provides an insider's look at politically plausible, high-impact financial policy fixes that will radically shift the equality balance. Offering an innovative, powerful, and highly practical solution for immediately turning around the enormous nationwide problem of economic inequality, this groundbreaking book:
Presents practical ways America can and should tackle economic inequality with fast-acting results
Provides revealing examples of exactly how bad economic inequality in America has become no matter how hard we all work
Demonstrates that increasing inequality is disastrous for long-term economic growth, political action, and even personal happiness
Explains why your bank's interest rates are still only a fraction of what they were even though the rich are getting richer than ever, faster than ever
Reveals the dangers of FinTech and BigTech companies taking over banking
Shows how Facebook wants to control even the dollars in your wallet
Discusses who shares the blame for our economic inequality, including the Fed, regulators, Congress, and even economists
Engine of Inequality: The Fed and the Future of Wealth in America should be required reading for leaders, policymakers, regulators, media professionals, and all Americans wanting to ensure that the nation’s financial policy will be a force for promoting economic equality."
Mattei discusses chapters 5 - 10 in this video: [RP Book Club: The Capital Order with Clara Mattei, Part 2 - YouTube](https://www.youtube.com/watch?v=1283DPMwNYc)
Chapters:
00:00 Opening Remarks
01:48 Clara Mattei Summarizes the 2nd Half of the Book, The Capital Order
03:09 Exploring the Historical Context and Impact of Austerity
(Mussolini/Italy and Britain Fascist Economy)
04:38 The Role of Economists in Shaping Austerity Policies
07:04 Summary: Analyzing the Trinity of Austerity Policies
08:01 Analyzing the Trinity of Austerity Policies
08:06 Case Studies: Britain and Italy Under Austerity
09:48 The Birth of Pure Economics and Its Political Underpinnings
18:19 Connecting Historical Austerity to Modern Economic Policies
34:38 Incompatibility Between Representative Democracy and Capitalism
56:46 Technocracy's Evolution and Modern Interpretation
01:02:28 Analyzing Austerity Through Historical Lenses
01:07:47 Connecting Past and Present: Economic Policies and Social Impact
01:19:30 The Role of Profits and Investment in Economic Systems
01:26:33 Final Thoughts and Future Directions
Part 1 • The Capital Order - Ch 1 to 4, War an...
[The Capital Order - Ch 1 to 4, War and Crisis [RP Book Club] - YouTube](https://www.youtube.com/watch?v=aN6HBFvhunI&t=0s)
https://www.claramattei.com/
Ha ha, Tim, I thought I heard you say my name when I had my camera off and was doing something else. :)) (TS 1:29:10 ff)
(I agree, it isn't an easy read, contrary to the blurb I read and posted in the Book Suggestions.)
It has been a bit of a slog, even to listen to it! But I think the info has been quite valuable for me.