000			01943cam a2200289 a 4500
008			080529t2008 nyu erb 001 0 eng
020			_a9780375505485 (acidfree paper)
040			_aDLC _cDLC
050	0	0	_aHG540 _b.S26 2008
082	0	0	_a332.4'10973 _bSAM
100	1		_aSamuelson, Robert J.
245	1	4	_aThe great inflation and its aftermath : _bthe past and future of American affluence /
250			_a1st ed.
260			_aNew York : _bRandom House, _cc2008.
300			_axxii, 309 p. ;
504			_aIncludes bibliographical references (p. 271-300) and index.
520			_aThe basic premise of this book is that the inflationary period of the 1970s impacted global perception and history as much as the great depression. The fault of this inflationary period goes way beyond Carter to Johnson who first imposed wage and price controls. These were supported and strengthened through Nixon and Ford administrations. Finally, under Carton inflation grew above 10%. The cause was not oil or food prices, but government policy that cause the inflation. The great inflation was ended by Paul Volcker (head of Federal Reserve) with the support of Reagan by severly tightening money supply which caused the 1980-1981 recession. Prior to that, the Fed had supported the Presidents with loose money supply to help employment rates. Since this time, inflation has not been more than 2% per year. Samuelson's obvious concern is with current USA policy. USA economic growth is critical to people's lifestyle and happyness. There are several issues he believes could significantly slow USA growth - health care, global warming, and taxes.
590			_alje 02/05/13
591			_aLoan
650		0	_aInflation (Finance)
650		0	_aEconomic policy
650		0	_aEconomic conditions
651		0	_aUnited States
856	4	1	_uhttp://www.loc.gov/catdir/toc/ecip0819/2008023468.html
942			_2ddc _cBOOK
949			_a332.4'10973 SAM
999			_c890 _d890