First published 2022
Alan Blinder examines six decades of American monetary and fiscal policy from 1961 to 2021. The economist draws on personal experience to analyze decisions made by twelve presidents, from John F. Kennedy through Joe Biden, and eight Federal Reserve chairs, from William McChesney Martin to Jerome Powell. Blinder tracks major economic developments including Kennedy's New Frontier fiscal policies, the stagflation crisis of the 1970s, the inflation battles under Jimmy Carter and Paul Volcker, the implementation of Reaganomics, and the market bubbles of the 2000s. The narrative covers recent events like the financial crisis, Great Recession, and COVID-19 monetary responses. Blinder shows how monetary and fiscal policies have alternately worked together and against each other through multiple recessions and extended periods of growth. The book provides lessons for understanding economic policy decisions and their consequences for anyone seeking to grasp where American economic policy has traveled and its potential future direction.
Genres: history, economics, non-fiction, 21st-century, academic, american-history
Vibes: thought-provoking
Tropes: informed-analysis
Setting: United States
Period: 1961-2021
432 pages · Hardcover · Princeton University Press