LEADER 03449nam 2200445 450 001 9910827070903321 005 20220511222309.0 010 $a0-8179-2346-2 010 $a0-8179-2348-9 035 $a(CKB)4100000010078020 035 $a(MiAaPQ)EBC6006927 035 $a(EXLCZ)994100000010078020 100 $a20200302d2020 uy 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aChoose economic freedom $eenduring policy lessons from the 1970s and 1980s /$fGeorge P. Shultz and John B. Taylor ; with words of wisdom by Milton Friedman 210 1$aStanford, California :$cHoover Institution Press, Stanford University,$d[2020] 210 4$dİ2020 215 $a1 online resource (137 pages) 311 $a0-8179-2344-6 320 $aIncludes bibliographical references and index. 327 $aChapter One: Guidelines: Debated and Implemented -- Chapter Two: Wage and Price Controls: Bad Economics Brings Bad Policy -- Chapter Three: Damage Control as the Economy Fights Back -- Chapter Four: Reversal and Reform: Good Economics Generates Good Policy -- Chapter Five: Orthodox Policies and Strategic Thinking Work -- Appendix A: Timeline of Key Events -- Appendix B: Letter from Arthur Burns to President Nixon, June 22, 1971 Appendix C: Economic Strategy for the Reagan Administration: A Report to President-Elect Ronald Reagan from His Coordinating Committee on Economic Policy, November 16, 1980 -- Appendix D: Frequently Asked Questions -- Notes -- References for Further Reading -- Acknowledgments -- About the Authors -- Index. 330 $a"What are the keys to good economic policy? George P. Shultz and John B. Taylor draw from their several decades of experience at the forefront of national economic policy making to show how market fundamentals beat politically popular government interventions--be they from Democrats or Republicans--as a recipe for success. Choose Economic Freedom reconstructs debates from the 1960s and 1970s about the use of wage and price controls as tools of policy, showing how brilliant economists can hold diametrically opposed views about the wisdom of using government intervention to spur the economy. Speeches and documents from the era include a recently unearthed memo from Arthur Burns, Federal Reserve chair, in 1971, in which he argues in favor of controls. Under Burns's guidance and in the face of stubborn inflation, Nixon introduced wage and price guidelines and freezes. But over the long run, these became a drag on the economy and ultimately failed. It wasn't until the Reagan administration that these controls were reversed, resulting in a vibrant economy. The words of iconic economist Milton Friedman--whose "free to choose" ethos inspired the free-market revolution of the Reagan era--along with lessons Shultz and Taylor learned from the front lines, demonstrate that tried-and-true economic policy works."--$cProvided by publisher 606 $aEconomic policy 608 $aQuotations.$2fast 615 0$aEconomic policy. 676 $a338.9 700 $aShultz$b George P.$f1920-2021$01187200 702 $aTaylor$b John B. 702 $aFriedman$b Milton$f1912-2006, 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910827070903321 996 $aChoose economic freedom$94037605 997 $aUNINA