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Title: CRS84798Lpage42
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Title: CRS84798Lpage35
Page from: info:fedora/mu:77086
Text: 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

Title: CRS84798Lpage39
Page from: info:fedora/mu:77086
Text: 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

Title: CRS84798Lpage34
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Title: CRS84798Lpage38
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Title: CRS84798Lpage41
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Text: 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

Title: CRS84798Lpage37
Page from: info:fedora/mu:77086
Text: 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

Title: CRS84798Lpage40
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Title: CRS84798Lpage36
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Title: CRS84798Lpage73
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Text: 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

Title: CRS84798Lpage72
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Title: CRS84798Lpage75
Page from: info:fedora/mu:77086
Text: 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

Title: CRS84798Lpage77
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Text: 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

Title: CRS84798Lpage68
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Text: M ‘ 14' lAUIt$,|l». :lli(ll “!1rx'IJ

Title: CRS84798Lpage78
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Title: CRS84798Lpage70
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Title: CRS84798Lpage76
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Title: CRS84798Lpage74
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Title: CRS84798Lpage15
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Text: -price guidelines (1962-1967-and 1978-1979), a wage—price freeze and mandatory con- trols (1971-1974), a ﬂirtation with credit controls (1980), a devaluation of the dol- lar (1971), the abandonment of the sys- tem of ﬁxed exchange rates (1973), and a major shift in Federal Reserve monetary policy (1979). The ideal remains elusive. 1 It remains elusive because it is unat- tainable. The story of the past twenty 99

Title: CRS84798Lpage17
Page from: info:fedora/mu:77086
Text: ’t think Congress would pass it. He was, of course, right. He ﬁnally advanced a sur- tax, in 1967, but Congress did not adopt the measure until June of 1968. By that 100 time, the virtual price stability of the 1950s and early 1960s had been lost; be- tween 1960 and 1966, inﬂation had risen from one to 3 percent, and it kept rising. The episode revealed an inherent im- balance in. the politics

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