I read about the Asch experiment and Milgram experiment. They both demonstrate individuals' susceptibility to society. This is fundamental to the sociological imagination. The individual is constantly acting and reacting to society -- and vice versa. Because it has been a quarter already, I will try to write my why this happened paper in the next week or two using this research and others about the Fed's history. Unfortunately the creation of the Federal Reserve Act is rather enigmatic. Information is not readily available, so I will visit the University of Chicago Library to look for more resources.
Considering that I also care about the modern context of the Fed, I researched the Fed's current state. They hold more US debt than China. Moreover the helped build the housing bubble and were not prepared for a crash.
Right now it looks like you're focusing on a lot of different aspects regarding the Fed. How will you narrow this down to take a more sociological view of the problem? I think the contribution to the housing bubble might be one good way to look at it. You're making the argument that the Fed is, at least in part, to blame for social stratification. Maybe you begin to analyze how/why this is.
ReplyDelete