Introducing *An Economic Program for American Democracy*

In 1938, a group of Harvard and Tufts economists published a book titled An Economic Program for American Democracy. The group included a few famous names – Richard V. Gilbert; George H. Hildebrand, Jr.; Arthur W. Stuart; Maxine Yaple Sweezy; Paul M. Sweety; Lorie Tarshis and John D. Wilson – and a few who neverContinue reading “Introducing *An Economic Program for American Democracy*”

Kennedy Johnson Tax Cuts

The Kennedy-Johnson tax cut was undoubtedly the crowning achievement of the Keynesian Revolution. It was something unique in American history: it wasn’t stimulus in response to a recession – it was a tax cut to prevent an expansion from slowing. It was Growth Keynesianism: the recognition that demand played a role in keeping long-run growthContinue reading “Kennedy Johnson Tax Cuts”

The Employment Act of 1946

The Economic ContextPostwar ProposalsWhat Was in the Proposed Full Employment Bill?Congressional Debates*Interpreting the Past*Goals*Feasibility*Method*Forecasting*InstitutionalizationResults – Final BillResults – Economic PerformanceFurther Reading The Employment Act was one of the defining moments in the history of American Keynesianism. Pushed by the left-wing of the New Deal coalition as the culmination of all that the 1930s and WorldContinue reading “The Employment Act of 1946”

A Little World Building

In the next few blog posts, we’ll start to unpack American Keynesianism. What was it? Who advocated for it? What did it accomplish? To do this, we’ll read some of the major writings on American Keynesianism, and summarize the findings with an eye towards synthesis. We’re world building here, so we’ll need some characters andContinue reading “A Little World Building”

Introducing RGK – “What’s in a name?”

Since the Global Financial Crisis, Americans have been trying to rethink our political economy. The meltdown seemed to expose the previous thirty years — the so-called “Great Moderation” — as something of a mirage, an illusion that masked growing inequality, financialization, and slower growth. As we all try to figure out what to do aboutContinue reading “Introducing RGK – “What’s in a name?””