More: The Politics of Economic Growth in Postwar America by Robert M. Collins

By Robert M. Collins

James Carville famously reminded invoice Clinton all through 1992 that "it's the economic system, stupid." but, for the final 40 years, historians of contemporary the USA have missed the economic climate to target cultural, social, and political subject matters, from the start of recent feminism to the autumn of the Berlin Wall. Now a student has advanced to put the economic system again in its rightful position, on the heart of his old narrative.
In More, Robert M. Collins reexamines the heritage of the U.S. from Franklin Delano Roosevelt to invoice Clinton, concentrating on the federal government's decided pursuit of financial progress. After tracing the emergence of development as a concern in the course of FDR's presidency, Collins explores the list of successive administrations, highlighting either their good fortune in fostering progress and its partisan makes use of. Collins unearths that the obsession with progress seems not just as an issue of coverage, yet as an expression of chilly struggle ideology--both a way to pay for the fingers build-up and evidence of the prevalence of the us' marketplace financial system. yet below Johnson, this enthusiasm sparked a predicament: spending on Vietnam unleashed runaway inflation, whereas the country struggled with the ethical effects of its prosperity, mirrored in books akin to John Kenneth Galbraith's The Affluent Society and Rachel Carson's Silent Spring. More maintains as much as the tip of the Nineties, as Collins explains the true effect of Reagan's rules and astutely assesses Clinton's "disciplined growthmanship," which mixed deficit relief and a calm yet watchful financial coverage by means of the Federal Reserve.
Writing with eloquence and analytical readability, Robert M. Collins deals a startlingly new framework for knowing the background of postwar America.

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But it was policy—an elemental assertion of political will and imagination—that caused the first step to be taken, fundamentally altering the national agenda. The Emergence of Economic Growthmanship > 37 IV. Public Entrepreneurship and Historical Moment Keyserling’s triumphs of 1949-50 did not last, however. In 1951, both his expansionist approach and his concomitant preference for indirect controls suffered defeat. In January, the administration instituted a general price freeze, and later in the year it decided to “stretch out” military procurement programs into 1955 and 1956.

Even more broadly, the emphasis on growth at once expressed and reinforced the tremendous outburst of national optimism sparked by the economic recovery and military victory of World War II. 84 Finally, the emergence of growthmanship owed much to the fact that the new orientation promised to be so useful: for the CEA, it provided the ultimate yardstick for macroeconomic management and the way to wed macro- and microeconomic objectives; for business, it bid fair to generate sustained prosperity in an increasingly productive mass consumption economy; for workers, it promised a constantly rising standard of living alongside a burgeoning private welfare system of pensions and benefits; for liberal activists, it served as a rationale and a vehicle for reform; for Cold Warriors, it made feasible a new, globalized, and militarized containment policy; and for Democratic partisans, it promised political appeal and electoral success.

18 By 1949, the effort was having great success. As one well-placed observer, Jean Monnet, the patron saint of European integration, noted at the time: “We Europeans are still haunted by past notions of security and stability. Today the principal idea is that of expansion. That is what is happening in the United States. ”19 At home, the president’s economic messages sounded the battle cry of economic expansion and growth throughout the year, with a constancy that was particularly striking in light of the fact that the concern with inflation that had dominated the start of the year was soon replaced by worry about deflation as the policymakers belatedly recognized the recession of 1949.

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