Nixon's Economy: Booms, Busts, Dollars, and Votes

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Lawrence, Kansas, U.S.A. 1998 Hardcover New in New jacket Book First Edition, 1st Printing. New, unread in unpriced dust jacket.

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Overview

"A fascinating book. Matusow writes very well and manages to make complicated economic ideas very clear. His portraits of major players such as Herbert Stein, John Connally, and George Shultz are extraordinarily shrewd. The result is a history of presidential mismanagement that reveals a great deal, not only about the Nixon years, but also about the formidable obstacles that block the making of well-informed and coherent federal economic policy."—James T. Patterson, author of Grand Expectations: The United States, 1945-1974

"An important and stimulating book that contributes substantially to the ongoing reinterpretation of Nixon's presidency, vividly demonstrating how Nixon's quest for a new majority animated and gave coherence to his economic policy choices."—Bruce J. Schulman, author of Lyndon B. Johnson and American Liberalism

Author Bio: Allen J. Matusow is William Gaines Twyman Professor of History at Rice University. Among his many books are The Unraveling of America: A History of Liberalism in the 1960s and Farm Policy and Politics in the Truman Years.

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Editorial Reviews

Library Journal
Matusow (The Unraveling of America: A History of Liberalism in the 1960's) offers the first complete history of Nixonomics. Nixon generally ignored fiscal and monetary matters, preferring to devote himself to foreign policy. George Shultz, Treasury secretary, is lauded as Nixon's finest political appointment; but John Connally, the former Texas governor and a 'shameless opportunist,' became economic czar by subordinating his responsibilities to Nixon's political agenda. The President's attempt to create a new political majority was dashed almost as much by his failed policies and ineffective responses to the great recession and inflation of 1973-75 as by Watergate. Matusow provides lucid accounts of such complicated issues as wage-and-price controls, dollar devaluation, demise of the gold standard, and the emergence of the global economy. -- Karl Helicher, Upper Merion Township Library, King of Prussia, Pennsylvania
Library Journal
Matusow (The Unraveling of America: A History of Liberalism in the 1960's) offers the first complete history of Nixonomics. Nixon generally ignored fiscal and monetary matters, preferring to devote himself to foreign policy. George Shultz, Treasury secretary, is lauded as Nixon's finest political appointment; but John Connally, the former Texas governor and a 'shameless opportunist,' became economic czar by subordinating his responsibilities to Nixon's political agenda. The President's attempt to create a new political majority was dashed almost as much by his failed policies and ineffective responses to the great recession and inflation of 1973-75 as by Watergate. Matusow provides lucid accounts of such complicated issues as wage-and-price controls, dollar devaluation, demise of the gold standard, and the emergence of the global economy. -- Karl Helicher, Upper Merion Township Library, King of Prussia, Pennsylvania
Booknews
Historian Matusaw (Rice University) depicts a President who was forced to pay attention to the economy or lose his dream of effecting a historic realignment of the political parties in America. The study derives its authority from extensive archival research in Nixon's Presidential papers, including notes by Haldeman and Ehrlichman of crucial conversations in the Oval Office. Matusaw shows the poverty of contemporary economic theory, Nixon's willingness to sacrifice the world economy for his domestic political purposes, his sometimes desperate attempts to apply any solution that might work, and his achievement of what Matusaw argues were illusory successes that ultimately brought on a decade of economic disaster.
Wall Street Journal
An excellent book. It takes us through the 1969-70 recession, the evolution of a restrictive trade policy, the rising problem of inflation, the wage and price controls of 1971, the electoral triumph of 1972 and the collapse of 1973, culminating in Nixon's resignation.
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Product Details

  • ISBN-13: 9780700608881
  • Publisher: University Press of Kansas
  • Publication date: 4/28/1998
  • Edition description: New Edition
  • Pages: 323
  • Product dimensions: 6.10 (w) x 9.20 (h) x 1.10 (d)

Table of Contents

Acknowledgments
List of Abbreviations
Introduction 1
Ch. 1 Nixon and the Fed 7
Ch. 2 The Fiscal Ironies of 1969 34
Ch. 3 Election Year 1970 55
Ch. 4 The Decline and Fall of Gradualism 84
Ch. 5 Trade, Politics, and the New Mercantilism 117
Ch. 6 Camp David 149
Ch. 7 Election Year 1972 182
Ch. 8 The Great Inflation 214
Ch. 9 Oil Shock 241
Ch. 10 The Great Recession 276
Conclusion 303
Index 309
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