Lev Menand

TheoristModern· American

Associate Professor of Law at Columbia Law School and author of The Fed Unbound, which traces how money creation migrated outside chartered banks and left the central bank improvising ever larger emergency rescues. His scholarship frames money issuance as a sovereign public power delegated to banks under strict conditions, and argues for rebuilding banking law so the institutions that create money answer to the public. Through proposals like FedAccounts and treating banks as public utilities, he maps concrete routes to put money creation back under democratic control.