Download American Economic Policy in the 1980s (National Bureau of by Martin Feldstein PDF

By Martin Feldstein

Destined to develop into the traditional advisor to the industrial coverage of the U.S. in the course of the Reagan period, this publication presents an authoritative list of the commercial reforms of the 1980s.In his advent, Martin Feldstein offers compelling research of rules with which he used to be heavily concerned as chairman of the Council of financial Advisers through the Reagan management: financial and trade cost coverage, tax coverage, and finances concerns. different prime economists and policymakers research a number of household and foreign concerns, together with financial and trade price coverage, legislation and antitrust, in addition to exchange, tax, and finances policies.The participants to this quantity are Alberto Alesina, Phillip Areeda, Elizabeth Bailey, William F. Baxter, C. Fred Bergsten, James Burnley, Geoffrey Carliner, Christopher DeMuth, Douglas W. Elmendorf, Thomas O. Enders, Martin Feldstein, Jeffrey A. Frankel, Don Fullerton, William M. Isaac, Paul L Joskow, Paul Krugman, Robert E. Litan, Russell B. lengthy, Michael Mussa, William A. Niskanen, Roger G. Noll, Lionel H. Olmer, Rudolph Penner, William Poole, James M. Poterba, Harry M. Reasoner, William R. Rhodes, J. David Richardson, Charles Schultze, Paula Stern, David Stockman, William Taylor, James Tobin, W. Kip Viscusi, Paul A. Volcker, Charles E. Walker, David A. clever, and Richard G. Woodbury.

Show description

Read or Download American Economic Policy in the 1980s (National Bureau of Economic Research Conference Report) PDF

Best government & business books

Military-to-Civilian Career Transition Guide: The Essential Job Search Handbook for Service Members

Janet is a professional during this box. because the biggest army to civilian placement company, we think she promises a invaluable viewpoint for provider individuals who're at the moment transitioning or making plans to transition to the civilian workforce.

Bradley-Morris, Inc. (BMI) - offering Military-Experienced expertise to America's most sensible businesses

Handbook of Military Administration (Public Administration and Public Policy)

Whereas coverage makers are without end conceptualizing new reform programs, the particular enactment of these reforms is usually more difficult. Remarkably, the only public establishment that's capable of meet that problem can also be the biggest. the U.S. division of security, which employs over 600,000 humans and bargains with $500 billion in investment, has confirmed itself rather in a position to effectively imposing reforms in an ever-changing atmosphere.

The quality of government : corruption, social trust, and inequality in international perspective

The connection among executive, advantage, and wealth has held a distinct fascination on the grounds that Aristotle, and the significance of every frames coverage debates this day in either built and constructing international locations. whereas it’s transparent that low-quality govt associations have super unwanted effects at the healthiness and wealth of societies, the standards for solid governance stay faraway from transparent.

One nation under God : how corporate America invented Christian America

We’re frequently advised that the U.S. is, used to be, and consistently has been a Christian kingdom. yet in a single state lower than God, historian Kevin M. Kruse finds that the assumption of “Christian the USA” is an invention—and a comparatively fresh one at that. As Kruse argues, the idea that the United States is essentially and officially a Christian state originated within the Nineteen Thirties while businessmen enlisted spiritual activists of their struggle opposed to FDR’s New Deal.

Extra info for American Economic Policy in the 1980s (National Bureau of Economic Research Conference Report)

Sample text

Cap Weinberger, himself a former Office of Management and Budget 37 American Economic Policy in the 1980s: A Personal View (OMB) director, was able to keep defense spending outside the regular budget process. Although the OMB reviewed the details of the defense budget, the overall level of defense spending was decided by the president and the defense secretary alone, something without parallel in the other spending departments and a continuing source of frustration to OMB Director David Stockman.

This was achieved despite a reduction of the corporate tax rate from 46 percent to 34 percent by lengthening depreciation lives and eliminating the investment tax credit. The revenue estimators conveniently chose not to take the increased corporate tax revenue into account in calculating the effect of the overall reform on the taxes paid at each income level. This produced the politically convenient result of an apparent tax cut for each income class despite the aggregate estimate that the tax reform as a whole was revenue neutral.

This raised revenue from high-income taxpayers and did so quickly. However, just as with the 1982 retroactive changes in depreciation rules, it sent the message that depreciation tax rules could not be relied on in the future. It also encouraged tax-motivated investors in real estate to sell their properties immediately, exacerbating the collapse of real estate values and the problems of the banking system in the late 1980s. Another change designed to limit the tax cut for the highest-income taxpayers was eliminating the personal exemptions and the use of the low bracket rates (the zero bracket and the 15 percent bracket) for high-income individuals.

Download PDF sample

Rated 4.28 of 5 – based on 38 votes