This is Democracy – Episode 280: Banking and Democracy

This week, Jeremi and Zachary have a conversation with Professor Mary Bridges, author of 'Dollars and Dominion: U.S. Bankers and the Making of a Superpower.' They explore the significant, yet often overlooked, role of banking institutions, particularly the Federal Reserve, in shaping American democracy and foreign policy. Zachary sets the scene with his poem, "Reserves". The conversation delves into the historical impact of Banker's Acceptance credit instruments on global trade, the establishment of the U.S. dollar as a reserve currency, and the dynamics of financial power during and after World War I. They also address the importance of transparency and accountability in maintaining a participatory democracy. Mary Bridges is an Ernest May Fellow in History and Policy at Harvard's Belfer Center for Science and International Affairs. She is a historian of the twentieth-century United States. Her book, Dollars and Dominion: US Bankers and the Making of a Superpower, has just been published. Her next research project focuses on infrastructure building as a means of projecting U.S. influence overseas. Mary has also worked as a business reporter and editor.