'Democratic Money' & the Tragedy of Anti-Marxism

[Ellen Frank]

Doug writes:
>
>Well they got their elastic currency with the Federal Reserve Act of 
>1913. It didn't turn out quite the way they planned. So maybe, by 
>even the most pragmatic standards, the focus on the technical 
>arrangements of money is fairly meaningless if you don't address the 
>class relations and competitive economic system of which money is a 
>representation. That's not "lit-crit crappola," that's politic
s

But, really, they did not get their elastic currency. 

 What the populists (nearly defunct 1913) got was 
a paper money system that would be controlled by 
the finance industry.    The Federal Reserve Act of
1913 was, to earlier populist demands, what the
Family and Medical Leave Act was to feminist demands,
or the Clinton health plan to demands for universal health 
insurance.  

					Ellen Frank

	
>