2 of 3 people found the following review helpful
A leap of faith.,
This review is from: The Great Inflation and Its Aftermath: The Past and Future of American Affluence (Paperback)The premise - Through the 60'es, Keynesian economic policies were adopted in the United States, including attempts at fixing a low unemployment rate - initially with great success. But as these policies progressed, the result was the inflation experienced throughout the 70'es. The inflation was finally stymied when Reagan won the election, who decided to leave Volcker in the Federal Reserve.
There are a number of issues with this, however. The author claims the Vietnam war, and the two oil crises in the 70'es didn't contribute to the inflationary picture, despite voluminous evidence to the contrary. And in the concluding chapter, the author starts mixing economic policy with global warming. I think that's stretching the relevance thin.
Overall, an interesting book, but I won't be rushing to read it again soon.