When President Woodrow Wilson signed the Federal Reserve Act on December 23, 1913, he described the resulting institution as the “Supreme Court of Finance.” In the Federal Reserve System, Wilson believed, the United States finally possessed a central institution whose decisions regulated financial matters for the entire country, as did the Supreme Court in the […]
The Dangers of “Aristocracy:” Grund’s Critique of Tocqueville’s Democracy in America
Bringing Aristocracy in America into dialogue with Tocqueville’s Democracy in America can help historians to better understand the nature of the conflict between “aristocracy” and “democracy”—an issue that may be more relevant even in our own time than many had thought. When Alexis de Tocqueville published the first volume of his Democracy in America in […]
