America's Failing Economy and the Rise of Ronald Reagan

Description

This book examines one of the most important economic outcomes in American history—the breakdown of the Keynesian Revolution. Drawing on economic literature, the memoirs of economists and politicians, and the popular press, Eric Crouse examines how economic decline in the 1970s precipitated a political revolution. Keynesian thought flourished through the presidencies of Lyndon B. Johnson, Richard Nixon, and Gerald Ford, until stagflation devastated American workers and Jimmy Carter’s economic policies faltered, setting the stage for the 1980 presidential campaign. Tracking years of shifting public opinion and colorful debate between free-market and Keynesian economists, this book illuminates a neglected era of American economic history and shows how Ronald Reagan harnessed a vision of small government and personal freedom that transformed the American political landscape. Front Matter ....Pages i-xiv Introduction (Eric R. Crouse)....Pages 1-13 The Keynesian Revolution, 1936–1965 (Eric R. Crouse)....Pages 15-41 Johnson’s Great Society to Nixon’s Gamble (Eric R. Crouse)....Pages 43-65 Ford’s Economy (Eric R. Crouse)....Pages 67-89 The Presidential Campaign of 1976 (Eric R. Crouse)....Pages 91-117 Carter’s Keynesian Start (Eric R. Crouse)....Pages 119-145 Inflation and Taxes in 1978 (Eric R. Crouse)....Pages 147-173 The Energy Crisis (Eric R. Crouse)....Pages 175-202 On the Brink of Economic Revolution (Eric R. Crouse)....Pages 203-230 The Presidential Campaign of 1980 (Eric R. Crouse)....Pages 231-259 Back Matter ....Pages 261-274