Nixon's Economy: Booms, Busts, Dollars, and Votes - Tapa dura

"A fascinating book. Matusow writes very well and manages to make complicated economic ideas very clear. His portraits of major players such as Herbert Stein, John Connally, and George Shultz are extraordinarily shrewd. The result is a history of presidential mismanagement that reveals a great deal, not only about the Nixon years, but also about the formidable obstacles that block the making of well-informed and coherent federal economic policy."--James T. Patterson, author of Grand Expectations: The United States, 1945-1974"An important and stimulating book that contributes substantially to the ongoing reinterpretation of Nixon's presidency, vividly demonstrating how Nixon's quest for a new majority animated and gave coherence to his economic policy choices."--Bruce J. Schulman, author of Lyndon B. Johnson and American Liberalism "Matusow's monograph is an incisive analysis of a little-known aspect of the Nixon years."--Washington Post"A very readable and insightful study of a critical period in American economic history."--Wall Street Journal "Matusow provides lucid accounts of such complicated issues as wage-and-price controls, dollar devaluation, demise of the gold standard, and the emergence of the global economy."--Library Journal "Matusow's important study of Richard M. Nixon's economy fills a gap in the historical literature. A gracefully written work, it is replete with penetrating and often startling insights, sharp analysis, and impressive research, and it offers a fresh account of how economic policy was shaped in accordance with the political objectives of the Nixon presidency."--American Historical Review "We shall not soon find an account of policy making in the White House that throws so much light on the way in which the thirty-seventh president of the United States conducted the country's economic business--nor one that illuminates Mr. Nixon's understanding and practice of politics--as Professor Matusow's."--Journal of American History

This text presents the history of Richard Nixon's political economy. Though Nixon came to office preoccupied with foreign policy, he soon had to grapple with an economy that threatened him with political defeat. Following the advice of Milton Friedman, the president placed his initial hopes for good times in the economics of caution. But when the economy dipped into recession and cost the Republicans victory in the Congressional election of 1970, Nixon turned for rescue not to his economists, but to a politician, the former Democratic Governor of Texas, John Connelly, who became Secretary of the Treasury midway through the first term. Connelly and Nixon set out to save Nixon's presidency by any means necessary. In a televised speech on August 15th, 1971, Nixon stunned the world and reversed his political fortunes by announcing a series of measures that contradicted everything he was supposed to believe in. The economy took off in 1972, and Nixon's re-election by a landslide was assured.