Engine of inequality: the fed and the future of wealth in America

Cover -- Title Page -- Copyright -- Contents -- Acknowledgments -- About the Author -- Introduction -- Chapter 1 Inequality: Why It's So Much Worse and What to Do About It -- What We Know about Inequality that Economists Don't -- The Economic-Recovery Mirage -- Why So Unequal So Fast? -- Regulatory Wreckage -- How to Fix Financial Policy -- Chapter 2 How Unequal Are We? -- Economic Inequality Fundamentals -- Who Has How Much -- What of Wealth? -- The Inequality Engine -- Worse Than That -- The Most Inclusive Ever? -- The Great Financial Crisis and Its Equality Aftermath -- Chapter 3 What Makes Us So Unequal -- The Mechanical Engineering of Economic Inequality -- Death and Taxes -- The Role of Transfer Payments -- A Supply-Side Solution? -- Public Wealth: A Sputtering Part in the Equality Engine -- Is Education the Answer? -- Is Trade Policy a Problem? -- Global Policy Reform? -- What to Do? -- Chapter 4 Why Does Economic Inequality Matter So Much? -- Inequality and Mortality -- Political Polarization -- Inequality's Eviscerating Cost -- Inequality and the Long Recession -- Financial-Crisis Risk -- Chapter 5 Following the Money -- How Central Banks Work -- The Modern Monetary-Policy Construct -- The Fed's Bailout Buckets -- The Fed's Payment Powers -- Rules of the Financial Road -- Four Fundamental Financial-Policy Flaws -- Chapter 6 How Monetary Policy Made Most of Us Poorer -- The Fed's Heavy Hand -- Why It's the Fed's Fault -- How Ultra-Low Interest Rates Made America Still Less Equal and QE Still More Inequitable -- The High Cost of Low-Rate Debt -- The Low-Unemployment Myth -- The Anti-Wealth Effect -- Making Matters Still Worse -- A Bigger Fed, Lower Rates, an Extreme Financial Crisis -- Chapter 7 How to Make Monetary Policy Make Us More Equal -- The Aggregate-Data Error -- The Fed's Real Mandate -- The Fourth Mandate.