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Table of Contents

Introduction
Conventions Used in This Book

Chapter 1: Breakthroughs and Frustrations
I. The National Scene
II. The Global Dimension

Chapter 2: Monetary Policy and Public Policy Debates, 1973 to 1974
I. Events and Activities Related to Monetary Policy and Public Policy Debates, 1973–74
II. Issues Related to Monetary Policy and Public Policy Debates, 1973–74
Indexation
Watergate
III. Personalities in Monetary Policy and Public Policy Debates, 1973–74
Albert Rees
Arthur Schlesinger

Chapter 3: Debates on International Economic Policy and Geopolitical Developments, 1973 to 1974
I. Events and Activities Related to Debates on International Economic Policy and Geopolitical Developments, 1973–74
II. Issues Related to Debates on International Economic Policy and Geopolitical Developments, 1973–74
The First Oil Shock
Into the Floating-Rate Era
III. Personalities in Debates on International Economic Policy and Geopolitical Developments, 1973–74
George Shultz
William Nordhaus

Chapter 4: Debates on Business, Finance, and Social Policy, 1973 to 1974
I. Events and Activities Related to Debates on Business, Finance, and Social Policy, 1973–74
II. Issues Related to Debates on Business, Finance, and Social Policy, 1973–74
Friedman and Finance
Culmination of the Conscription Debate
III. Personalities in Debates on Business, Finance, and Social Policy, 1973–74
Gary Becker
Walter Heller

Chapter 5: Debates on Monetary Policy and Macroeconomic Stabilization, 1975 to 1976
I. Events and Activities in Debates on Monetary Policy and Macroeconomic Stabilization, 1975–76
II. Issues Related to Debates on Monetary Policy and Macroeconomic Stabilization, 1975–76
The Beginning of Monetary Targeting
The Financial Crisis of 1973–75 and Its Aftermath
III. Personalities in Debates on Monetary Policy and Macroeconomic Stabilization, 1975–76
Arthur Okun
Ronald Reagan

Chapter 6: Debates on Regulation, the Phillips Curve, and Policy Rules, 1975 to 1976
I. Events and Activities Related to Debates on Regulation, the Phillips Curve, and Policy Rules, 1975–76
II. Issues Related to Debates on Regulation, the Phillips Curve, and Policy Rules, 1975–76
Policy Rules and the Constitution
The Phillips Curve and the Complexity of Stabilization Policy
III. Personalities in Debates on Regulation, the Phillips Curve, and Policy Rules, 1975–76
Campbell McConnell
Henry Jackson

Chapter 7: Debates on International Economic Policy and Geopolitical Developments, 1975 to 1976
I. Events and Activities Related to Debates on International Economic Policy and Geopolitical Developments, 1975–76
II. Issues Related to Debates on International Economic Policy and Geopolitical Developments, 1975–76
The Chile Trip: Controversy and Response
Trade Credits and the Soviet Union
III. Personalities in Debates on International Economic Policy and Geopolitical Developments, 1975–76
Henry Kissinger
Michael Mussa
Appendix: Friedman’s Workshop on Money and Banking in the 1960s and 1970s

Notes
Bibliography
Index

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