Age of Fracture
Daniel T. Rodgers Harvard University Press, 2011 Library of Congress E169.12.R587 2011 | Dewey Decimal 973.91
Rodgers presents the first broadly gauged history of the ideas and arguments that profoundly reshaped America in the last quarter of the twentieth century. From the ways in which Ronald Reagan changed the formulas of the Cold War presidency to the era’s intense debates over gender, race, economics, and history, it maps the dynamics through which mid-twentieth-century ideas of structure fell apart between the mid 1970s and the end of the century. Where conventional histories of modern America have focused on specific decades, the book traces the larger transformations in social ideas and visions that reshaped the era from the early 1970s through the end of the century.
Drawing from their experience as government insiders, George P. Shultz and Kenneth W. Dam show how economic policy is shaped at the highest levels of government. They reveal the interconnections between economic, social, and international policy, covering issues such as the advocacy system and the role of the individual in shaping policy. A new chapter, 'A Changed World,' explores the various influences of our increasingly global economy on economic strategy. With rare candor, authority and breadth of vision, Shultz and Dam have produced a brilliant introduction to economic policy, its principles, and practice.
"A model of brevity and lucidity . . . [Economic Policy Beyond the Headlines] incorporates a unique and rewarding blend of economic reasoning with a high level of political awareness . . . enriched by the wide personal experience in government of the authors."—Albert T. Sommers, Across the Board
"[Shultz and Dam] help foreign readers to understand why the world looks so different from Washington. . . . This book should provide the model."—The Economist
"A wise and valuable book showing great insight into the realities of economic policy making."—Henry A. Kissinger
"Several areas in economics today have unprecedented significance and vitality. Most people would agree that stabilization policy ranks with the highest of these. Continuing inflation and periodic serious acceleration of inflation combined with high and secularly rising unemployment combine to give the area high priority. This book brings us up to date on an extremely lively discussion involving the role of expectations, and more particularly rational expectations, in the conduct of stabilization policy. . . . Anyone interested in the role of government in economics should read this important book."—C. Glyn Williams, The Wall Street Review of Books
"This is a most timely and valuable contribution. . . . The contributors and commentators are highly distinguished and the editor has usefully collated comments and the ensuing discussion. Unusually for a conference proceedings the book is well indexed and it is also replete with numerous and up-to-date references. . . . This is the first serious book to examine the rational expectations thesis in any depth, and it will prove invaluable to anyone involved with macroeconomic policy generally and with monetary economics in particular."—G. K. Shaw, The Economic Journal