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Managing Macroeconomic Policy - The Johnson Presidency (Paperback)
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Managing Macroeconomic Policy - The Johnson Presidency (Paperback)
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Macroeconomic policy involves government action intended to
influence the overall operation of the economy and to deal with
such important public problems as economic growth, inflation,
unemployment, and recession. In this first comprehensive treatment
of presidential management of such policy for any presidency,
authors James E. Anderson and Jared E. Hazleton focus on four
tasks: developing and maintaining an information and
decision-making system; coordination of policies in different
macroeconomic areas; building support or consent for presidential
policies; and administrative leadership. Drawing extensively upon
presidential documents and interviews with Johnson administration
officials, the authors pay particular attention to fiscal,
monetary, wage-price, and international economic (especially
balance of payments) policies during Johnson's terms. The authors
use the concept of the subpresidency, as defined by Redford and
Blisset in Organizing the Executive Branch: The Johnson Presidency
(University of Chicago Press, 1981), to show how Johnson managed
the macro-economic institutions of the council of Economic
Advisors, the Bureau of the Budget (now the Office of Management
and Budget), the Department of the Treasury, and the Federal
Reserve Board in pursuit of his economic goals. What emerges is a
vivid portrait of an activist president. In evaluating management
of macroeconomic policy in the Johnson administration, the authors
focus on how presidential policies are developed and adopted rather
than on the substance of the policies themselves. They conclude
that the Johnson administration competently managed policy
development during its presidential years. This book is a volume in
the Administrative History of the Johnson Presidency Series
sponsored by the LBJ School of Public Affairs at the University of
Texas at Austin, the first two volumes of which were published by
the University of Chicago Press. Managing Macroeconomic Policy: The
Johnson Presidency was funded in part by the National Endowment for
the Humanities.
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