Download e-book for kindle: A History of Macroeconomic Policy in the United States by John H. Wood

By John H. Wood

ISBN-10: 020388356X

ISBN-13: 9780203883563

ISBN-10: 0415777186

ISBN-13: 9780415777186

Keynes requested no matter if his ‘visionary’ rules may conquer the pursuits against switch. although, an exam of the histories of financial and financial rules means that it is a fake contrast. The pursuits and ideas linked to executive rules are seldom antagonistic. The suspicion that the latter extra usually follows than confronts the previous is supported by means of the studies documented during this book.

Professor Wood’s new name examines the controlling impacts that force macroeconomic regulations within the usa. The e-book addresses the historical past of the pursuits, principles, and practices of economic and financial guidelines within the united states, even though it additionally examines macro-policies in different nations, quite the united kingdom. Professor wooden argues that fiscal regulations within the usa were fairly predictable and strong traditionally, via an in depth exam of conflicts over taxes and financial coverage comparable to the whiskey uprising, Magna Carta, the Stamp Act, the Banks of the united states, and the Federal Reserve. concerns lined additionally comprise estate, economists’ theories of stabilization, taxes, deficits, and financial policy.

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However, by new duties more rigorously enforced, the American Revenue Act of 1764 (called the Sugar Act because its duty on molasses drew the most attention) was designed ‘for improving the revenue of this kingdom’ (Pickering 1807 xxvi: 33–52). This would be insufficient with even the most favorable results, and officials looked for something more. They settled on the stamp duty that had been employed in England since 1694 (Dowell 1965 iii: 286). The Stamp Act of February 1765, to become effective 1 November, required stamps on newspapers, pamphlets, and playing cards, as well as legal documents such as licenses, deeds, bills of sale, and affidavits.

A free and general pardon, . . liberty of . . opinion in matter of religion, [and] all arrears due to the officers and soldiers of the army. (Gardiner 1906: 465–6) Charles II was greeted by a royalist Parliament when he landed at Dover in May. ‘The Great Rebellion . . had collapsed from within’ (Woolrych 1958). The public’s unwillingness to pay taxes levied otherwise than by a legitimate Parliament brought the Commonwealth down as it had the monarchy. The Stuarts were back but they had better be careful.

A supporter complained that the king was kept ‘as it were at board wages’ (Grellier 1810: 22). Even they were scrutinized. In 1696, Parliament directed a commission to examine the government’s accounts from 5 November 1688 (when William landed in England) to the intent that their Majesties and this kingdom may be satisfied and truly informed whether all the same revenues, moneys, and provisions have been faithfully issued out, disposed, ordered, and expended for the ends and purposes aforesaid; and that their Majesties’ loyal subjects may thereby be encouraged more chearfully to undergo the like burthens for the support of their Majesties government and the farther prosecution of the war.

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A History of Macroeconomic Policy in the United States by John H. Wood


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