Beckworth (economics, Western Kentucky University) unites contributors writing in the monetarist tradition, including an economist at the IMF, a policy maker with the OECD, a hedge fund manager, and professors of economics in the US and Canada, to explain the role of the Federal Reserve System in the Great Recession of 2008. Writing in terms accessible to most general readers and policy makers, contributors blame the housing bubble, boom-and-bust cycle, and wide swings in economic activity on the destabilizing policies of the US Federal Reserve. After an overview of US monetary policy and the financial crisis, they examine areas such as the Fed's asymmetric policies of 2003, the Fed's emergence as the US economy's central planner, and the global liquidity crisis. They also give recommendations on creating a better monetary system and avoiding the boom-and-bust cycle in the future. Beckworth is a research fellow at The Independent Institute. The book is distributed in the US by Independent Publisher's Group. Annotation ©2012 Book News, Inc., Portland, OR (booknews.com)