Contributors: Mehrsa Baradaran, Michael O'Malley, Michael Ralph, David M. P. Freund, Destin Jenkins, Peter Hudson, K-Sue Park
In several historic moments of banking or monetary reform, issues of race were inextricably tied to issues of money.
Category: David M. P. Freund
Roundtable 3: Race and Money
D. Freund, Money is productive, and racist institutions create money
June 8, 2020
David M. P. Freund, University of Maryland
No doubt many readers here will be familiar with the role of the financial sector in shaping America’s peculiar history of racial inequality
Current Scholarship
State Building for a Free Market: The Great Depression and the Rise of Monetary Orthodoxy
Author: David M. P. Freund
The U.S. government transformed American finance between 1913 and 1935 by assuming extraordinary new powers over the banking sector and the money supply. And the government’s actions were reliably controversial. Beginning soon after the Federal Reserve began operations and lasting through the reforms that restructured the institution during the New Deal, critics warned that federal overreach in financial markets posed an existential threat to the free-enterprise system.