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Memos to the President : Guide Through Macroeconomics for the Busy Policymaker - Charles L. Schultze

Memos to the President

Guide Through Macroeconomics for the Busy Policymaker

Paperback Published: 1st June 1993
ISBN: 9780815777779
Number Of Pages: 334

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When policymakers are in need of economic advice, professional economists are never far away. Policymakers, journalists, and citizens all rely on experts to explain various economic developments and policy proposals. While it is fortunate that experts are close at hand, those concerned with choosing or evaluating economic policies should themselves have an understanding of how the economy works. Unfortunately, many policymakers and interested citizens currently lack such knowledge; and they need to know at the least the basics of macroeconomics to make informed decisions on their own. In this insightful book, Charles L. Schultze employs an imaginative format for explaining to busy policymakers and citizens how the economy works and what issues are likely to affect macroeconomic policy. He imagines that the next president has promised to devote one hour a week to learning about key economic principles and has asked the chairman of the Council of Economic Advisers for instruction. The book is written as a series of memos to the president on the principles and policy issues that should be understood before making macroeconomic policy judgements. A former chairman of the Council of Economic Advisers himself, Schultze clearly explains the key relationships as a background for policy decisionsrelationships among domestic and foreign economic forces, and government policies and economic outcomes. The memos rely heavily on the use of real-world examples from recent economic events and policy debates. They focus principally on such policy-related issues as inflation, unemployment, long-term economic growth, and the flow of international trade and capital. The series of short, easy-to-read memosis divided into three groups: the first presents the background, explaining why it is particularly important for policymakers to distinguish between those economic forces that affect total demand in the economy and those that affect total supply; the second addresses the problem of economic stability; and the third looks at long-term economic growth.

Forewordp. vii
Introductionp. 1
Backgroundp. 11
Memorandum 2p. 27
Memorandum 3p. 35
Memorandum 4p. 45
Managing Demandp. 55
Memorandum 5p. 57
Memorandum 6p. 65
Notesp. 72
Memorandum 7p. 73
Memorandum 8p. 86
Notesp. 94
Memorandum 9p. 96
Memorandum 10p. 107
Memorandum 11p. 120
Memorandum 12p. 129
Memorandum 13p. 142
Memorandum 14p. 153
Memorandum 15 To: The President From: Cea Chairman Subject: The Full-Employment Level of Unemploymentp. 160
Memorandum 16p. 172
Memorandum 17p. 183
Memorandum 18p. 196
Notesp. 206
Memorandum 19p. 207
Notep. 215
Increasing Supplyp. 217
Memorandum 20p. 219
Memorandum 21p. 227
Appendix: Calculating the Sources of Economic Growthp. 233
Memorandum 22p. 236
Notesp. 245
Memorandum 23p. 247
Memorandum 24p. 255
Memorandum 26p. 278
Notesp. 288
Memorandum 27p. 290
Memorandum 28p. 299
Notesp. 306
Summaryp. 307
Memorandum 29p. 309
Indexp. 325
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780815777779
ISBN-10: 0815777779
Audience: General
Format: Paperback
Language: English
Number Of Pages: 334
Published: 1st June 1993
Publisher: Brookings Institution
Country of Publication: US
Dimensions (cm): 22.86 x 15.24  x 1.91
Weight (kg): 0.48