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Product details:
- ISBN 10: 1135970149
- ISBN 13: 9781135970147
- Author: John H Sprinkle Jr
This book examines the controlling influences that drive macroeconomic policies in the United States. It addresses the history of the interests, ideas, and practices of monetary and fiscal policies in the United States.
Table of contents:
1 Introduction
PART I Fiscal policy
2 Interests: a history of tax conflicts
The Magna Carta
Ship-money
The Glorious Revolution
Contracts and commitments
The Stamp Act: taxation without representation
The Constitution of the United States of America
The whiskey and other tax rebellions in the early United States
Tariffs
The missile gap?
Conclusion
3 Ideas: the theory of stabilization policy
The transmission of ideas
The General Theory
Acceptance and rejection
The possibility of macroeconomic policy
4 Practice: the stability of Federal government deficits
Popular explanations of the persistent deficits
An alternative explanation: military spending with tax smoothing
Was Keynesianism ever practiced?
PART II Monetary policy
5 The interests and institutions of monetary policy
The Bank of England, 1694–1914
The Banks of the United States
The Independent Treasury
Foundations of the Federal Reserve
Conclusion
6 Knowledge, advice, and monetary policy
Sources and limits of knowledge
Ideas, experience, and action
An economist’s lament: ‘What trade-offs?’
Economists, bureaucracies, and policymakers
Who’s crazy?
Policymakers and the public
7 The stability of monetary policy: the Federal Reserve, 1914–2007
The Fed’s variable reputation
What they knew in 1914
The Fed’s model
Qualifications
Estimates
A new theory
Conclusion
PART III Conclusion
8 It’s interests after all
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