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Born out of crisis a century ago, the Federal Reserve has become the most powerful macroeconomic policymaker and financial regulator in the world. The Myth of Independence traces the Fed's transformation from a weak, secretive, and decentralized institution in 1913 to a remarkably transparent central bank a century later. Offering a unique account of Congress's role in steering this evolution, Sarah Binder and Mark Spindel explore the Fed's past, present, and future and challenge the myth of its independence.

Binder and Spindel argue that recurring cycles of crisis, blame, and...

Is American democracy being derailed by the United States Senate filibuster? Is the filibuster an important right that improves the political process or an increasingly partisan tool that delays legislation and thwarts the will of the majority? Are century-old procedures in the Senate hampering the institution from fulfilling its role on the eve of the 21st century?

The filibuster has achieved almost mythic proportions in the history of American politics, but it has escaped a careful, critical assessment for more than 50 years. In this book, Sarah Binder and Steven Smith provide such an...

For better or worse, federal judges in the United States today are asked to resolve some of the nation's most important and contentious public policy issues. Although some hold onto the notion that federal judges are simply neutral arbiters of complex legal questions, the justices who serve on the Supreme Court and the judges who sit on the lower federal bench are in fact crafters of public law. In recent years, for example, the Supreme Court has bolstered the rights of immigrants, endorsed the constitutionality of school vouchers, struck down Washington D.C.'s blanket ban on handgun...

Gridlock is not a modern legislative condition. Although the term is said to have entered the American political lexicon after the 1980 elections, Alexander Hamilton complained about it more than two hundred years ago. In many ways, stalemate seems endemic to American politics. Constitutional skeptics even suggest that the framers intentionally designed the Constitution to guarantee gridlock. In Stalemate, Sarah Binder examines the causes and consequences of gridlock, focusing on the ability of Congress to broach and secure policy compromise on significant national issues. Reviewing more...