- ›› Coverage Organizations : Federal Reserve
The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back. ...
Glossary Term – Organization
Created by the Bank Act of 1933, the Federal Deposit Insurance Corporation was established to insure bank deposits to prevent the loss of life savings experienced by Americans due to bank failures during the Great Depression.