Keynes asked whether his visionary ideas would overcome the
interests opposed to change. However, an examination of the
histories of monetary and fiscal policies suggests that this is a
false distinction. The interests and ideas associated with
government policies are seldom opposed. The suspicion that the
latter more often follows than confronts the former is supported by
the experiences documented in this book.
Professor Wood s new title examines the controlling influences
that drive macroeconomic policies in the United States. The book
addresses the history of the interests, ideas, and practices of
monetary and fiscal policies in the U.S., although it also examines
macro-policies in other countries, particularly the UK. Professor
Wood argues that economic policies in the United States have been
relatively predictable and stable historically, through a detailed
examination of conflicts over taxes and monetary policy such as the
whiskey rebellion, Magna Carta, the Stamp Act, the Banks of the
U.S., and the Federal Reserve. Issues covered also include
property, economists theories of stabilization, taxes, deficits,
and monetary policy."
General
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