Federal Reserve Operating Procedures: A Survey and Evaluation of the Historical Record Since October 1979: Comment

In conjunction with the current “revisionism” of English history from a Catholic viewpoint, it is time to undertake a corresponding revision of the plays and personality of William Shakespeare. For this purpose it is not enough to rest content with the meagre historical record, but we have to go ahead in the light of recusant history with a reinterpretation of the plays, considering the extent to which they lend themselves to the Catholic viewpoint. This is not merely a matter of nostalgia for the mediaeval past, but it looks above all to the present sufferings of the “disinherited” English Catholics — in the light of the continued presence of Christ who is suffering, as Pascal famously noted, in his faithful even till the end of the world.

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Reviews of Books and Other Documents - Substitutes for the saloon. (Poverty-U.S.A.: the historical record.)

Quarterly Journal of Studies on Alcohol ◽

10.15288/qjsa.1973.34.654a ◽

1973 ◽

Vol 34 (2) ◽

pp. 654-655

Author(s):

Lois P. Adair

Keyword(s):

Historical Record

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The Priority of Democracy

10.23943/princeton/9780691151236.001.0001 ◽

2011 ◽

Cited By ~ 108

Author(s):

Jack Knight ◽

James Johnson

Keyword(s):

Decision Making ◽

Monetary Policy ◽

Political Institutions ◽

Federal Reserve ◽

Democratic Politics ◽

Institutional Choice ◽

Democratic Process ◽

Strong Case ◽

The Subject ◽

The Relationship

Pragmatism and its consequences are central issues in American politics today, yet scholars rarely examine in detail the relationship between pragmatism and politics. This book systematically explores the subject and makes a strong case for adopting a pragmatist approach to democratic politics—and for giving priority to democracy in the process of selecting and reforming political institutions. What is the primary value of democracy? When should we make decisions democratically and when should we rely on markets? And when should we accept the decisions of unelected officials, such as judges or bureaucrats? This book explores how a commitment to pragmatism should affect our answers to such important questions. It concludes that democracy is a good way of determining how these kinds of decisions should be made—even if what the democratic process determines is that not all decisions should be made democratically. So, for example, the democratically elected U.S. Congress may legitimately remove monetary policy from democratic decision-making by putting it under the control of the Federal Reserve. This book argues that pragmatism offers an original and compelling justification of democracy in terms of the unique contributions democratic institutions can make to processes of institutional choice. This focus highlights the important role that democracy plays, not in achieving consensus or commonality, but rather in addressing conflicts. Indeed, the book suggest that democratic politics is perhaps best seen less as a way of reaching consensus or agreement than as a way of structuring the terms of persistent disagreement.

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