By Martin Feldstein
Destined to turn into the normal advisor to the commercial coverage of the us through the Reagan period, this publication presents an authoritative checklist of the commercial reforms of the 1980s.In his advent, Martin Feldstein offers compelling research of guidelines with which he used to be heavily concerned as chairman of the Council of financial Advisers through the Reagan management: financial and trade fee coverage, tax coverage, and finances concerns. different prime economists and policymakers research various family and overseas matters, together with financial and alternate fee coverage, law and antitrust, in addition to alternate, tax, and funds policies.The members to this quantity are Alberto Alesina, Phillip Areeda, Elizabeth Bailey, William F. Baxter, C. Fred Bergsten, James Burnley, Geoffrey Carliner, Christopher DeMuth, Douglas W. Elmendorf, Thomas O. Enders, Martin Feldstein, Jeffrey A. Frankel, Don Fullerton, William M. Isaac, Paul L Joskow, Paul Krugman, Robert E. Litan, Russell B. lengthy, Michael Mussa, William A. Niskanen, Roger G. Noll, Lionel H. Olmer, Rudolph Penner, William Poole, James M. Poterba, Harry M. Reasoner, William R. Rhodes, J. David Richardson, Charles Schultze, Paula Stern, David Stockman, William Taylor, James Tobin, W. Kip Viscusi, Paul A. Volcker, Charles E. Walker, David A. clever, and Richard G. Woodbury.
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Extra resources for American Economic Policy in the 1980s (National Bureau of Economic Research Conference Report)
Thereafter, each installment would provide a positive contribution to overall tax receipts” (Laffer 1981, 201). This was not a n isolated statement but part of a general line of argument that distinguished the self-styled “supply-siders” from the rest of the economics profession. 14. The actual size of the tax cut and the reasons for the increase of the budget deficit are discussed in the next section of this chapter. 15. I tried to be polite in my remarks on this subject to the 1985 meeting of the American Economic Association (Feldstein 1986c) by not identifying anyone by name when I said that the supply-sidershad claimed that the tax cut would be self-financing,only to be accused by Anderson in his book of attributing views that the supply-siders never had.
34 Martin Feldstein were achieved to a surprising and unprecedented extent during the first two years of the Reagan presidency. The tax cuts turned out to be much greater than expected, while the spending cuts were much less than the president and his advisers had anticipated. The result was an enormous budget deficit that continues until the present. The failure to correct the deficit reflects a complex mix of personal, political, and economic factors. Before trying to unravel them, I begin with a brief overview of the changes that occurred in the pattern of government spending.
For further comments that I made at the time, see Feldstein (1986a. 1986d). 34 Martin Feldstein were achieved to a surprising and unprecedented extent during the first two years of the Reagan presidency. The tax cuts turned out to be much greater than expected, while the spending cuts were much less than the president and his advisers had anticipated. The result was an enormous budget deficit that continues until the present. The failure to correct the deficit reflects a complex mix of personal, political, and economic factors.
American Economic Policy in the 1980s (National Bureau of Economic Research Conference Report) by Martin Feldstein