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The years 1920-1970 saw revolutionary change in the character of the monetary system as a consequence of depression, war, and finally prosperity. Against this background of change, Perry Mehrling tells a story of continuity around the crucial question of the role of money in American democracy, a question associated generally with the Progressive tradition and its legacy, and more particularly with the institutionalist tradition in American economic...
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Description
This classic study chronicles the revolution in fiscal policy that occurred in the United States between the administrations of Herbert Hoover and John F. Kennedy. Unforeseen by any economist or school of economists, this period witnessed the doctrine of balancing the budget give way to the principle of managing government expenditures and taxes to ensure stability and growth. With his characteristic wit and authority, the author vividly relates how...
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Description
An introduction to the theory and practice of macroeconomics that illustrates through current and historical examples how fiscal and monetary policy set the ground rules for global economy and why and how the rules keep changing.
Presenting macroeconomic concepts, this book introduces tools for interpreting the big-picture economic developments that shape events in the contemporary business arena. It includes examples which are drawn from history...
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