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The Quiet Revolution

The Quiet Revolution Central Banking Goes Modern - Arthur M. Okun Memorial Lecture Series

Hardback (23 Apr 2004)

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Publisher's Synopsis

Although little noticed, the face of central banking has changed significantly over the past ten to fifteen years, says the author of this enlightening book. Alan S. Blinder, a former vice chairman of the Federal Reserve System and member of President Clinton's Council of Economic Advisers, shows that the changes, though quiet, have been sufficiently profound to constitute a revolution in central banking.

Blinder considers three of the most significant aspects of the revolution. The first is the shift toward transparency: whereas central bankers once believed in secrecy and even mystery, greater openness is now considered a virtue. The second is the transition from monetary policy decisions made by single individuals to decisions made by committees. The third change is a profoundly different attitude toward the markets, from that of stern schoolmarm to one of listener. With keenness and balance, the author examines the origins of these changes and their pros and cons.

About the Publisher

Yale University Press

By publishing serious works that contribute to a global understanding of human affairs, Yale University Press aids in the discovery and dissemination of light and truth, lux et veritas, which is a central purpose of Yale University. The publications of the Press are books and other materials that further scholarly investigation, advance interdisciplinary inquiry, stimulate public debate, educate both within and outside the classroom, and enhance cultural life. In its commitment to increasing the range and vigor of intellectual pursuits within the university and elsewhere, Yale University Press continually extends its horizons to embody university publishing at its best.

Book information

ISBN: 9780300100877
Publisher: Yale University Press
Imprint: Yale University Press
Pub date:
DEWEY: 332.11
DEWEY edition: 22
Language: English
Number of pages: 119
Weight: 322g
Height: 223mm
Width: 145mm
Spine width: 22mm