It truly matters that this not be the fate of a new paper from the Center for Economic and Policy Research, Fed Up, and the Center for Popular Democracy.
Titled “The Full Employment Mandate of the Federal Reserve: Its Origins and Importance” – WAIT, don’t switch tabs and check Facebook! – it’s a history of the economic policies of the civil rights movement, the movement’s focus on capturing the Fed’s power to generate full employment, how they partially succeeded, and why we have to fight right now to preserve their accomplishments. It deserves to be discussed and carefully studied by absolutely everyone on the left side of the political spectrum — Democrats, Greens, Hillaryites, Berners, Autonomous Collectives, and miscellaneous.
Before looking at what the paper says in detail, I want to explain my own perspective on why it’s so significant.
Ask yourself this: When was the last time you sat around with your family and friends talking about the Federal Reserve? By far the most likely answer is never, because you are normal human beings.
But when was the last time you all hashed over one of you needing a job, or your health care coverage, or your asshole boss, or the chances you’ll get laid off? The answer to that is, you never stop talking about it.
The combination of these two things is truly bizarre, because the Fed has more power than any institution over everything about work in America.