Stalemate: Political Economic Origins of SupplySide Policy,Used

Stalemate: Political Economic Origins of SupplySide Policy,Used

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Product DescriptionStalemate examines the politics of economic policy formation in the postwar United States. This volume critically reinterprets political sociological approaches to the contemporary state/economy relationship. Mainstream and radical accounts of policymaking processes are compared, and a synthesis is proposed between pluralist, elite, and classbased approaches. The core of this book is a detailed analysis of the origins of the supplyside shift under Kennedy. Winant first empirically examines the explicitly supplyside economic policy initiative, the socalled Kennedy tax cut or Revenue Act of 1964. This initiative set the stage for economic policymaking from the New Frontier to Reagonomics, as Reagan and his advisers frequently acknowledge. The continuity of policy in this crucial time from 1964 to 1984 remains largely unacknowledged in the literature.Review"Focusing on the political processes surrounding the US Revenue Act of 1964 as a typical manifestation of power exerted in an advanced capitalist society, this Marxistoriented study assumes that Act to be the 'first supplyside initiative' following the reported failure of mainstream, principally Keynesian, economics in addressing economic stagnation and crisis. the prior example of the ambitious Andrew Mellon supplyside tax cuts of the 1920s is not mentioned, nor are the earlier classical insights regarding taxes and economic growth. The study will be most comprehensible to those already steeped in Marxist nomenclature (e.g., social reproduction) and convinced of recurrent capitalist stagnation, dealt with elewhere in Marxist literature. To others, the analysis in several chapters of how the 1964 Act was developed by the Administration, its progression through Congress, and the influence on it of interest groups and personalities (the pluralist approach) furnishes a substantial mass of data interesting in their own right and providing grounds for alternative interpretations." ChoiceAbout the AuthorHOWARD A. WINANT is Political Sociologist at Temple Univeristy.

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