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: the State of Economics, by Lester Thurow . . . . 17, Economic Choices: 1984, edited by Alice Rivlin . . . . . . . . . . . . . The Economic Illusion: False Choices Between Prosperity and SOCial JUStiCe, by RObert Kuttner 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 A New Social Contract: the,Economy.and Government After Reagan, by Martin Carnoy, Derek Shearer, and Russell ’ I O C O O O O O O’ 0- O O I O O O O O’ O O
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CRS-iv THE NEW YORK REVIEW OF BOOKS The Supply-Side Revolution, by Paul Craig Roberts Presidential Economics: the Making of Economic Policy from Roosevelt to Reagan and Beyond, by Herbert Stein The Barbaric Counter—Revolution: Cause and Cure, by W. W. Rostow . . . . . . . . . . . . . . . . . . . . . . . . . NEW YORK TIMES Presidential Economics: the Making of Economic Policy from Roosevelt to Reagan and Beyond, by Herbert Stein . . . . . . . The Supply-Side Revolution, by Paul Craig Roberts . . . . . . . . POLICY REVIEW The Supply-Side Revolution, by Paul Craig Roberts . . . . . . . . POLITICAL SCIENCE QUARTERLY Reaganomics: a Midterm Report, edited by William Craig Stubblebine and Thomas D. Willett . . . . . . . . . . . . . . . . . . . . THE PROGRESSIVE A New Social Contract: the Economy and Government after Reagan, by Martin Carnoy, Derek Shearer, and Russell Rumberger . . . . WALL STREET JOURNAL The Supply-Side Revolution, by Paul Craig Roberts . . . . . . . . Beyond Monetarism: Finding the Road to Stable Money, by Marc A. Miles . . .-. . . . . . . . . . . . . . . . . . . . . . . . WALL STREET REVIEW OF BOOKS Controlling Money: the Federal Reserve and Its Critics, by Ralph C. Bryant . . . . . . . . . . . . . . . . . . . . . . . . . . . Reaganomics: a Midterm Report, edited by William Craig Stubblebine and Thomas D. Willett . . . . . . . . . . . . . . . . . .3. . . WASHINGTON POST - Presidential Economics: the Making of Economic Policy From Roosevelt to Reagan and Beyond, by Herbert Stein . . . . . . . The Supply—Side Revolution, by Paul Craig Roberts . . . . . . . . Tax Incentives and Economic Growth, by Barry Bosworth . . . . . . The Economic Illusion: False Choices Between Prosperity and Social Justice, by Robert Kuttner . . . . . . . . . . . . . . . . . . 27 31 32 33 35 37 38 39 40 43 46 47 48 50
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Ashenfelter, Orley Berry, John M. . . . Bethell, Tom . . . . Bruchey, Stuart . . . Davidson, Lawrence S. Evans, Michael K. . . Fallows, James . . . Field, William P., Jr. Gilder, George ‘. . . Green, John C. .‘. . Heilbroner, Robert L. Henderson, David R. Hershey, Robert D., Jr Koford, Kenneth J. . Krauss, Melvyn . . . Lekachman, Robert . McCracken, Paul W. . INDEX CRS-vi OF REVIEWERS 19 48 20 46
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Reich, Robert B. . . Rickenbacker, William Samuelson, Robert J. Silk, Leonard . . . Sopiarz, Edward R. . Stein, Herbert . . Train, John . . . . Weidenbaum, Murray L. Wolman, William . . CRS-vii 31 17 12 47 33
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the Republi- 1 ..i party after Ronald Reagan departs; hence the Vice President and Baker (who had come out of the Bush camp) were deter- mined to undermine supply-side economics, which was, of course, widely identified as Kemp’s program. But why didn’t the Presi- dent intervene to support what had also be- come his own program? Roberts suggests that Reagan stayed aloof because, for rea- sons of party unity
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be reduced by $46 billion, or 0.9% of GNP in 1989, partly because other experts in whom I have confidence believe that the cut would be risky. UT HERE, as with the presentation of their basic program, I fault the authors mainly for not asking the right question, which is not simply whether some costs and risks are associated with the proposed cut. The question should be broadened to consid- er some
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Haveman, de- ‘ 3 rs ' . - ' .v u’’.; . V . . 2"‘ ‘ gan immediately decontrolled oil prices and __ ’ DAVID R. HENDERSON, recently a senior stafl" economist for the Council of Economic Advisers, is now a re- _ . search economist in Monterey, California. Economists John L. Palmer and Isabel V Sawill Reprodu mywaeRn2,19e4 romxe 251 14 M. no ced with the permission of Fortune, ©1984, Vo
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years of analyzing oth- er people's options, she is entitled to a fling at expressing her own preferences. But the readers should know what they are getting---- especially when the product represents the collective wisdom of one of the most re- spected U.S. research institutions. Although the book deals with a variety of Hanson S11-:1N, a senior fellow at the American Enter- prise Institute
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why one part of the I982 Social Security legislation will not prove workable. Under that plan. those with incomes of $20.03) or more ($2S.(!l) for a couple) would have to pay taxes on half their-Social Security benefits. Since those earning Sl9.999 will pay notax at all on their benefits. the plan will create obvious disincentives and in- equities. Roberts says that a better way
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Confessions of a White House Adviser PRESIDENHAL ECONOMICS The Making of Economic Policy From Roosevelt to Reagan and Beyond. By Herbert stem. (14 pp. New York: Simon 8: Schuster. $16.95. By Leonard Silk HAT is the actual role of the professional economist in the making of national eco- nomic policy -- and what should it be? In "Presidential Economics." Herbert Stein, who
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villain in the falling out, he declares, is Mr. Stockman. a man whose early suppl -side sympathies quickly evapora and who “orches- trated” thte c(l;f1icit-mongers who, de- spairing o a evlng major spending cuts, pressed for higher taxes in- gtggfl . _. -:= - 32 THE NEW YORK TIMES FEBRUARY 29, 1984 PAGE C21 Althoughit is hard tovouch for the full, contextual accuracy of many of his charges, Mr. Roberts
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