American Economic Policy in the 1990s

Front Cover
Jeffrey A. Frankel, Peter R. Orszag
MIT Press, 2002 - Business & Economics - 1119 pages

The 1990s saw the best economic performance in the United States in three decades. Strong economic growth and falling unemployment were accompanied by low inflation and rising budget surpluses. Although personal bankruptcies climbed, the personal saving rate fell, and the trade deficit expanded, overall, U.S. economic performance during the 1990s was outstanding.

This book is a unique attempt to write the first history of the making of American economic policy during the 1990s. One way to view it is as a "debriefing" of those who made the decisions. Each chapter is devoted to a particular area of economic policy and consists of a background paper written by leading academic economists together with short essays by prominent policymakers, many of whom served in the Clinton administration or previous administrations, and by independent observers. The questions asked about each policy area include: What were the pros and cons of alternative options under consideration? What decision was made? What were the relevant economic arguments for that decision, and what political interests were served? Were other options missing from consideration? Is it possible to judge whether the decision was the right one? Are there lessons for the future?

 

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Contents

Monetary Policy
19
Alan Blinder
44
William Poole
48
Alice M Rivlin
52
Summary of Discussion
56
Fiscal Policy
61
Martin Feldstein
120
Rudolph G Penner
126
Daniel Yergin
572
Summary of Discussion
578
Environmental Policy
583
George T Frampton
645
Paul R Portney
650
Murray Weidenbaum
654
Summary of Discussion
657
Labor and Education
663

Robert Rubin
130
Summary of Discussion
136
Tax Policy
139
Henry J Aaron
170
Leonard Burman
176
William A Niskanen
184
Summary of Discussion
188
International Finance and Crises in Emerging Markets
191
Stanley Fischer
255
Lawrence Summers
260
Allan H Meltzer
265
Summary of Discussion
271
Trade Policy
277
Charlene Barshefsky
328
Jagdish Bhagwati
333
Lael Brainard
341
Summary of Discussion
355
Information Technology
361
Martin N Baily
413
Esther Dyson
419
Paul Rotner
423
Summary of Discussion
431
Industrial Organization
435
Robert Pitofsky
486
Richard Schmalensee
493
Robert Willig
500
Summary of Discussion
504
Energy Policy
509
Charles B Curtis
563
Philip R Sharp
569
Lawrence Mishel
729
Roger B Porter
735
Robert B Reich
741
Summary of Discussion
746
Poverty and Welfare
749
Robert Greenstein
801
Ron Haskins
811
Bruce Reed
818
Summary of Discussion
822
Health Care and Tobacco Policy
825
Victor R Fuchs
875
Joseph P Newhouse
880
W Kip Viscusi
885
Summary of Discussion
892
Medicare Policy
899
NancyAnn DeParle
956
Mark McClellan
964
Robert D Reischauer
968
Summary of Discussion
976
The Role of Institutions in the White House
983
Gene B Sperling
1028
Sylvia Mathews
1034
R Glenn Hubbard
1039
Roger B Porter
1043
Summary of Discussion
1046
Contributors
1051
Name Index
1065
Subject Index
1077
Copyright

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About the author (2002)

Alan Kingstone is a Distinguished University Professor and Killam Scholar at the University of British Columbia as well as Senior Scholar at the Michael Smith Foundation for Health Research in Vancouver.

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