Rev Austrian Econ (2011) 24:319–322 DOI 10.1007/s11138-010-0133-1 Laurence J. Kotlikoff. Jimmy Stewart is dead: Ending the world’s ongoing financial plague with limited purpose banking. Hoboken, NJ: John Wiley & Sons, 2010, Pp. xxii + 241, $27.95; ISBN 978-0-470-58155-1 Richard E. Wagner Published online: 6 November 2010 Springer Science+Business Media, LLC 2010 While the actor Jimmy Stewart died in summer 1997, this book’s reference to the actor recurs to his role in the 1946 movie released just before Christmas, It’sa Wonderful Life. The movie was an exercise in sentimentality that perhaps offered respite after the just concluded war: Jimmy Stewart’s character, a banker about to commit suicide on Christmas Eve, was saved by a guardian angel, after which the movie moved into a happily-ever-after ending. This book mirrors the movie. In both movie and book, innocent people are victimized by a cabal of scoundrels and thieves. Salvation comes from intercession of a guardian angel acting through a human intermediary: Jimmy Stewart in the movie and the author in the book. In the movie, the guardian angel is named Clarence Odbody; in the book, it is named Federal Financial Authority, which would be given a monopoly over all financial regulation throughout
The Review of Austrian Economics – Springer Journals
Published: Nov 6, 2010
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