The Kennedy-Johnson Tax Cut

by Martin F. J. Prachowny

"The 1964 Kennedy-Johnson tax cut is often cited as the single most successful application of Keynesian stabilization policy. The author challenges this orthodox historical view." "The focus of the book is on the decisions, advice and actions of the three Chairmen of the Council during the 1960s: Walter Heller, Gardner Ackley, and Arthur Okun. They were the authors of the ambitious and optimistic 'new economics' that attempted to manipulate aggregate demand in the US economy to reach 'potential' output." "This book will be of interest to macroeconomists as well as to scholars and students interested in economic history and in the formulation and implementation of economic policy."--Jacket.