A Monetary and Fiscal History of the United States, 19612021

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From the New York Times bestselling author, the fascinating story of U.S. economic policy from Kennedy to Bidenfilled with lessons for today

In this book, Alan Blinder, one of the worlds most influential economists and one of the fields best writers, draws on his deep firsthand experience to provide an authoritative account of sixty years of monetary and fiscal policy in the United States. Spanning twelve presidents, from John F. Kennedy to Joe Biden, and eight Federal Reserve chairs, from William McChesney Martin to Jerome Powell, this is an insiders story of macroeconomic policy that hasnt been told beforeone that is a pleasure to read, and as interesting as it is important.

Focusing on the most significant developments and long-term changes, Blinder traces the highs and lows of monetary and fiscal policy, which have by turns cooperated and clashed through many recessions and several long booms over the past six decades. From the fiscal policy of Kennedys New Frontier to Bidens responses to the pandemic, the book takes readers through the stagflation of the 1970s, the conquest of inflation under Jimmy Carter and Paul Volcker, the rise of Reaganomics, and the bubbles of the 2000s before bringing the story up through recent eventsincluding the financial crisis, the Great Recession, and monetary policy during COVID-19.

A lively and concise narrative that is sure to become a classic, A Monetary and Fiscal History of the United States, 19612021 is filled with vital lessons for anyone who wants to better understand where the economy has beenand where it might be headed.

Reviews

"Finalist for the PROSE Award in Economics, Association of American Publishers"
"Blinder has given us a very nice read. His book lets us ride shotgun along the extremely rocky road that US policymakers have traveled in their quest for price stability, full employment, financial resilience, and robust investment. Each episode produced by the Wheel of Fortuna is strikingly and I believe almost completely accurately described. Read and absorb Blinders account, and you will be qualified to present yourself as a respected elder statesmen who has seen much macroeconomic policymaking up close, and whose advice warrants attention."---Brad DeLong, Project Syndicate
"A very good introduction."---Tyler Cowen, Marginal Revolution
"Essential." * Choice *
"[Blinder is] an engaging writer."---Jeff Mann, London Review of Books

Author Bio

Alan S. Blinder is the Gordon S. Rentschler Memorial Professor of Economics and Public Affairs at Princeton University, a former vice chair of the Federal Reserve Board, and a former member of the Presidents Council of Economic Advisers. A regular columnist for the Wall Street Journal, he is the author of many books, including the New York Times bestseller After the Music Stopped: The Financial Crisis, the Response, and the Work Ahead. He lives in Princeton, New Jersey.