Great Experiments In American Economic Policy

Great Experiments In American Economic Policy

by Thomas Karier
     
 

ISBN-10: 0275959058

ISBN-13: 9780275959050

Pub. Date: 06/30/1997

Publisher: ABC-CLIO, Incorporated

During the 1980s, dramatic changes in the federal budget, the Federal Reserve, and the U.S. Treasury initiated the most comprehensive series of economic experiments since the 1930s. This book describes the nature of those experiments and compares them to the Keynesian experiment of the 1960s. In the 1980s, monetarists claimed their policies would permanently subdue

…  See more details below

Overview

During the 1980s, dramatic changes in the federal budget, the Federal Reserve, and the U.S. Treasury initiated the most comprehensive series of economic experiments since the 1930s. This book describes the nature of those experiments and compares them to the Keynesian experiment of the 1960s. In the 1980s, monetarists claimed their policies would permanently subdue inflation and unemployment; supply-siders said their tax cuts would give the economy new life with accelerated growth and a balanced budget; and free floaters promised unprecedented stability in international markets. Actual results fell far short of these promises. This book analyzes why the economic events of the 1980s unfolded as they did and what bearing the results have on the future of economics and the U.S. economy.

During the 1980s, dramatic changes in the federal budget, the Federal Reserve, and the U.S. Treasury initiated the most comprehensive series of economic experiments since the 1930s. This book describes the nature of those experiments and compares them to the Keynesian experiment of the 1960s. The promises that the economic experimenters made in the 1980s were bold and confident: monetarists claimed their policies would permanently subdue inflation and unemployment; supply-siders said their tax cuts would give the economy new life with accelerated growth and a balanced budget; and free floaters promised unprecedented stability in international markets. Actual results fell far short of these ambitious promises.

At first the economists denied that their experiments had failed, but when they were faced with overwhelmingly negative results that were impossible to ignore, they blamed each other for the failure. After beginning the decade as a united front against liberalism, the monetarists, suppply-siders, and free floaters ended the decade hopelessly divided. This book sorts out the actual occurrences of the 1980s. It analyzes why events unfolded as they did, what bearing the results have on the future of economics and the U.S. economy, what can be explained, and what mysteries remain.

Read More

Product Details

ISBN-13:
9780275959050
Publisher:
ABC-CLIO, Incorporated
Publication date:
06/30/1997
Pages:
246
Product dimensions:
6.00(w) x 9.00(h) x 0.69(d)

Table of Contents

Preface

Camelot and Trojan Horses

Origins of Monetarism

Gambling at the Fed

A View from the Supply Side

Budget Busters

The Free Float

Global Shock Waves

The Reckoning: A Decade of Economic Records

A Falling Out

Rewriting Economics

Out of the Ashes

Notes

Bibliography

Index

Customer Reviews

Average Review:

Write a Review

and post it to your social network

     

Most Helpful Customer Reviews

See all customer reviews >