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An examination of U.S. economic policy in the 1990s, by leading policy makers as well as academic economists.
America's power has declined since 1945, yet America's democratic purposes are more widely emulated in the world today than ever before, and economic growth and employment in the United States in the 1980s reached levels that rivaled the boom years of postwar prosperity from 1947-1967. Challenging the pessimists who focus only on the decline of American power, this book argues that outcomes depend much more on how America defines its political identity or national purposes in the world community and what specific economic policies it chooses. In recent years, America has projected a more self-confindent political identity, anchoring an unprecedented trend even in the communist world towards freer political institutions; and future American economic policy choices, especially the need to reduce the budget deficit, still hold the key to preserving and enhancing what considerable power the United States retains. This pathbreaking book is intended for the general reader, but will be essential reading not only for economists, politicians, and policy makers, but also for scholars and students working in economics and international relations.
Covers trends from 1957 to 1995.
This work is an analysis of the critical economic issues facing the United States both domestically and globally, which looks forward to the 1990s. The author propounds a strategy of competitive interdependence to address the macroeconomic, monetary, financial and trade components of the problems.
This edition looks at how risky behaviour can lead to disaster in private markets, with colourful examples from Lloyd's of London and Sumitomo Metals. Krugman also considers the collapse of the Mexican peso, and the burst of Japan's 'bubble' economy.
This is a collection of papers dealing with the role of liberalism in the United States during the 1980s and what it means for the 1990s in American politics. Other, related, political areas covered are social and economic policy (health, women's issues, urban issues), foreign policy (the Middle East, the end of the Cold War, dominance, East Asia and foreign investment), issues of representation (the electorate, the decay of American democracy, the media and the message) and issues in government institutions (American federalism, the courts, ethics and the presidency).
These eight lectures by noted economist William Cline provide a clear and concise account of some of the most important macroeconomic issues facing the world economy. Designed for the nonspecialist but a source of fresh insight for the specialist as well, the lectures synthesize the major trends in international economic policy for the 1990s. Major themes include domestic and international economic stagnation, adjustment to external imbalances, trade policy (including case studies of Japan and NAFTA), the debt crisis, reform in former communist states, the economic future of Europe, and environmental policy. Cline, who has made important contributions to the topics addressed, reviews the forces that have contributed to policy problems and then evaluates the prospects for resolution. He shows how an understanding of economics can help break down many policy problems into simple fundamentals, and how empirical evidence is the acid test of any policy theory. Cline's coverage of many of today's "hot" public policy issues is unique both in its accessibility and in its broadbrush approach to a set of concerns of immediate interest to economists, policymakers, and others concerned with international economic policy.
The United States is in the midst of a many-sided economic crisis caused by an unrealistic assessment of domestic and international situations and an unwillingness to live within its means. The central fact is that the United States has been weakened and other countries strengthened as a result of changes in the international economy. This volume is meant to shake the policy-making community that continues to shield itself with free trade rhetoric while highly nationalistic, protected economies around the globe break off larger and larger shares of the U.S. market. The authors point out that the record of the United States' economic deterioration over the past quarter century can be seen in its steadily declining share of world GNP, from 35 percent in 1960 to 22 percent in 1980 to about 18 percent in 1987. Failure to contain and lower the twin trade and budget deficits, and to put the country on a substantially higher growth path, will reduce the United States to the status of a second-class power by the end of the century-a nation unable to meet its people's needs or to defend them in a violent world full of threats. Harrigan and Hawkins say that if America fails to act in an intelligent and decisive fashion, it could become another Argentina, with a ruined currency, staggering debts, geriatric industries, outdated technology and widespread public despair.
The United States is in the midst of a many-sided economic crisis caused by an unrealistic assessment of domestic and international situations and an unwillingness to live within its means. The central fact is that the United States has been weakened and other countries strengthened as a result of changes in the international economy. This volume is meant to shake the policy-making community that continues to shield itself with free trade rhetoric while highly nationalistic, protected economies around the globe break off larger and larger shares of the U.S. market. The authors point out that the record of the United States' economic deterioration over the past quarter century can be seen in its steadily declining share of world GNP, from 35 percent in 1960 to 22 percent in 1980 to about 18 percent in 1987. Failure to contain and lower the twin trade and budget deficits, and to put the country on a substantially higher growth path, will reduce the United States to the status of a second-class power by the end of the centuryoa nation unable to meet its people's needs or to defend them in a violent world full of threats. Harrigan and Hawkins say that if America fails to act in an intelligent and decisive fashion, it could become another Argentina, with a ruined currency, staggering debts, geriatric industries, outdated technology and widespread public despair."
The US in the 1990s faces a changed world, a world that calls for new perspectives on foreign policy. The authors examine many of the critical questions that American policymakers will face in coming years, including: how should the US react to Gorbachev's reforms of the Soviet Union?