Synopses & Reviews
The Carter administration took office at an unfortunate time as far as economics is concerned. The economy was floundering, and the oil crisis and energy problems were all too prevalent. The author explains that as Carter turned to fighting inflation, he abandoned the traditional Democratic agenda and became a forerunner of Reagan. In the end, he did not conquer inflation, but he did sacrifice his ambitious programs for restructuring government, crafting a lasting energy program, and reforming the tax structure, welfare, and health care.
Compagna finds that the decisive Carter of foreign affairs disappeared when economic policy was being formulated. Carter inherited an economy moving toward supply-side shocks, energy shortages, double-digit inflation, a decline in real wages, a recession, and stagflation. He promised zero-base budgeting, welfare reform, health care reform, tax reform, and improved government regulation. The author reveals how progress toward all these goals was disappointing....[R]ecommended for students of economics or political science.Choice
Economic problems facing the Carter administration are examined and the solutions analyzed from economic and political perspectives.
About the Author
ANTHONY S. CAMPAGNA is the John H. Converse Professor of Economics at the University of Vermont.
Table of Contents
Macroeconomic Policy Making
Background: The Economy in the Early 1970s
The Role of Economics in the 1976 Campaign
The Launching of the Carter Administration: Beginning Initiatives
Analysis of the Macroeconomic Policies at the Start of the Administration
The National Economy in the Second Half of the Administration, 1979-1980: The Battle for Survival
Summary and Critique of the Administration's Macroeconomic Policies
Other Initiatives and Reforms in the Carter Years
Trade and Energy Matters
Reforms in the Carter Years
Economic Issues in the Campaign of 1980
Conclusions and Legacy