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Overview
Paul W. McCracken was an outstanding economist whose career spanned the spheres of academia, business, and government. This book, written by Sidney L. Jones, Special Assistant to McCracken when he was Chairman of the Council of Economic Advisers to the President in 1969, has the advantage of both his personal perspective and access to McCracken's documents at the University of Michigan. The work examines economic policy adjustments, historical comparisons in preparing economic policy recommendations, the process of combining economic theories, and much more. Economists in the academic world, in business, or in politics will all profit from this remarkable book.Author Biography: Sidney L. Jones is Visiting Professor at the University of North Carolina at Chapel Hill, and served as Senior Economist and Special Assistant to Paul McCracken.
Synopsis
Jones (economics, U. of North Carolina) provides a close examination of economic adviser Paul W. McCracken's dedication to the stabilization and expansion of the US economy over the last 50 years. Focuses on McCracken's policy of cautious activism or "gradualism" which, Jones argues, has allowed for the establishment of stable policy while maintaining flexibility. Annotation c. Book News, Inc., Portland, OR