TY - BOOK AU - Hockett, Robert C. TI - Spread the fed: distributed central banking for productive-republican finance SN - 9783031720505 U1 - 332 PY - 2024/// CY - Cham PB - Palgrave Macmillan KW - Investments KW - Mutual funds KW - Performance measures N1 - Table of contents: Loving and Hating On Collective Political Agency–Three Productive-Republican Monetary Histories Front Matter Pages 1-3 Download chapter PDF Three Ages and Stages of American Money Robert C. Hockett Pages 5-13 Central Banking with Federalist Characteristics: The Coming of the Productive-Republican Fed Robert C. Hockett Pages 15-21 Central Banking with (More) Centralization: The Breakdown of the 1913 Compromise and the Productive-Republican Fed Robert C. Hockett Pages 23-29 Central Banking’s Early ‘Operating System’: The Real Bills Doctrine Front Matter Pages 31-33 Download chapter PDF Theoretic Foundations: Scissors Require Two Blades—Endogenous Money, Its Modulation, and Its Allocation Robert C. Hockett Pages 35-46 The Scissors in Retrospect and Prospect: Real Bills, Real Money, and Reality Robert C. Hockett Pages 47-56 The Fed After 1935: Where We Are Now Robert C. Hockett Pages 57-63 From National Degeneration to Regenerative Fed Decentralization Front Matter Pages 65-65 Download chapter PDF Crises and De- or Re-Generation Robert C. Hockett Pages 67-91 Distributing Over Markets Alongside Regions: The Federal Reserve, Other Reserves, and SIPI Collaring Robert C. Hockett Pages 93-133 Back Matter Pages 135-162 [https://link.springer.com/book/10.1007/978-3-031-69758-6] N2 - This book provides insight into the history, goals, and potential of the Federal Reserve System (Fed). Synthesizing into a unified vision research and reflections developed over 15 years in the academy and at banking institutions, Robert C. Hockett recovers the sensible founding vision of the early 20th century Fed and updates it to solve the new challenges of the 21st century, especially as America now strives to recover its lost productive preeminence worldwide after decades of "outsourcing" and consequent "deindustrialization." The book presents both the original 1913 Fed and Hockett's modern restored Fed as a unique public/private and federal/local partnership specifically inspired by German industrial development banking and adapted to continent-spanning American conditions. It shows that the original Fed's focus on endogenous money and productive (not speculative) credit allocation was sound and effective as far as it went, while its ignoring exogenous sources of monetary disturbance prevented its properly handling the bubble and bust of the late 1920s and early 1930s. The reaction to that error after the mid-1930s, the book shows, fell into the opposite error, pretending that monetary aggregates could be adequately modulated without being forthrightly allocated in productive rather than speculative directions. A "Goldilocks Fed" must both productively allocate endogenous money and sensibly modulate exogenous money - twin prerequisites to both productive investment and financial stability. Hockett illustrates how the twelve regional Federal Reserve District Banks were founded for just these purposes and can be revitalized to achieve them anew. (https://link.springer.com/book/10.1007/978-3-031-72051-2) ER -