Robert J. Samuelson, - The Great Inflation and Its Aftermath, The Past and Future of American Affluence (2008).pdf - USA społeczeństwo, historia, polityka - MMarkMMark

THE

GREAT

INFLATION

AND ITS

AFTERMATH

THE PAST AND FUTURE OF

AMERICAN AFFLUENCE

ROBERT J.

SAMUELSON

NEWSWEEK AND WASHINGTON POST COLUMNIST

U.S.A. $26 .00

Canada $30.00

t's a giant gap in our history. The Great Inflation,

argues award-winning columnist Robert J. Sam-

uelson in this provocative book, was the worst

domestic policy blunder of the postwar era and

played a crucial role in transforming American poli

tics, economy, and everyday life—and yet its story is

hardly remembered or appreciated. In these uncertain

economic times, it is more imperative than ever that

we understand what happened in the 1960s and 1970s,

lest we be doomed to repeat our mistakes.

From 1960 to 1979, inflation rose from barely more

than 1 percent to nearly 14 percent. It was the great

est peacetime inflationary spike in this nation's his

tory, and it had massive repercussions in every area of

our lives. The direct consequences included Ronald

Reagan's election to the presidency in 1980, stagna

tion in living standards, and a growing belief—both in

America and abroad—that the great-power status of

the United States was ending. The Great Inflation and

Its Aftermath traces the origins and rise of double-

digit inflation and its fall in the brutal 1981-82 reces

sion, engineered by the Federal Reserve under then-

chairman Paul Volcker and with the staunch backing

of Reagan.

But that is only half the story The end of high

inflation triggered economic and social changes that

are still with us. The stock market and housing booms

were both direct outcomes; American business

became more productive—and also much less protec

tive of workers—and globalization was encouraged.

We cannot understand today's world, Samuelson

contends, without understanding the Great Inflation

and its aftermath. Nor can we prepare for the future

unless we heed its lessons. This incisive and enlight

ening book will stand as the authoritative account of a

watershed event of our times.

ROBERT J. SAMUELSON is a columnist for

Newsweek and The Washington Post. He began his jour

nalism career as a reporter for the Post in 1969. He is

the author of The Good Life and Its Discontents: The

American Dream in the Age of Entitlement, ip^j-ipçy and

Untruth: Why the Conventional Wisdom Is (Almost Always)

Wrong, a collection of his columns. He lives in

Bethesda, Maryland, with his wife, Judy Herr. They

have three children.

Jacket design: Julie Metz Design

Join our nonfiction e-newsletter by visiting www.rh-newsletters.com

Random House

New York, N.Y.

Praise for Robert J. Samuelson's

THE GOOD LIFE AND ITS DISCONTENTS

The American Dream in the Age of Entitlement,

ip^f—ippf

A New York Times Business Book Bestseller

"Original, intellectually sound and fun to read."

—MANCUR OLSON, The Wall Street Journal

"Shrewd and optimistic ... combines first-rate analysis with

persuasive historical, political and sociological insights."

—JAGDISH BHAGWATI, The New Republic

"A smart, balanced epitaph for an era—

with a few clues for what's ahead."

—ROBERT J. DOWLING, BusinessWeek

"Lucid [and] nonsectarian ... Samuelson traces how

the reasonable demand for progress has given way to

the excessive demand for perfection."

—ROBERT KUTTNER, The New York Times

ISBN 978-0-375-50548-5

Robert J. Samuelson, - The Great Inflation and Its Aftermath, The Past and Future of American Affluence (2008).pdf

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