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A History of Post Keynesian Economics since 1936

A History of Post Keynesian Economics since 1936 the Allied high command, rather than on what Rostow can contribute from first-hand observation. The MIT link (Center for International Studies) with Washington in the Eisenhower years was the vehicle through which Rostow fed position papers to the White House on a number of topics: among them, the potential for terminating the Cold War following the death of Stalin; the merits of challenging the Soviet leadership with an “open skies” initiative; and the case for substantial enlargement of U.S. aid to third world countries. Rostow’s account of this period offers an arresting insight into the tensions between two strong personalities in the Eisenhower entourage: Secretary of State John Foster Dulles and Nelson Rockefeller, special assistant to the president. Rostow moved much closer to the front lines when joining the Kennedy administration in 1961. He devotes a chapter to his contribution to the effort to reconcile full employment and price stability through the articulation of “guideposts” for socially responsible wage making and price making. (Under the “guidepost” formula, increases in factor incomes should not exceed the average rate of growth in productivity.) This was the issue at stake in Kennedy’s vigorous attack on the U.S. Steel Corporation in 1962. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png History of Political Economy Duke University Press

A History of Post Keynesian Economics since 1936

History of Political Economy , Volume 36 (3) – Sep 1, 2004

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Publisher
Duke University Press
Copyright
Copyright 2004 by Duke University Press
ISSN
0018-2702
eISSN
1527-1919
DOI
10.1215/00182702-36-3-581
Publisher site
See Article on Publisher Site

Abstract

the Allied high command, rather than on what Rostow can contribute from first-hand observation. The MIT link (Center for International Studies) with Washington in the Eisenhower years was the vehicle through which Rostow fed position papers to the White House on a number of topics: among them, the potential for terminating the Cold War following the death of Stalin; the merits of challenging the Soviet leadership with an “open skies” initiative; and the case for substantial enlargement of U.S. aid to third world countries. Rostow’s account of this period offers an arresting insight into the tensions between two strong personalities in the Eisenhower entourage: Secretary of State John Foster Dulles and Nelson Rockefeller, special assistant to the president. Rostow moved much closer to the front lines when joining the Kennedy administration in 1961. He devotes a chapter to his contribution to the effort to reconcile full employment and price stability through the articulation of “guideposts” for socially responsible wage making and price making. (Under the “guidepost” formula, increases in factor incomes should not exceed the average rate of growth in productivity.) This was the issue at stake in Kennedy’s vigorous attack on the U.S. Steel Corporation in 1962.

Journal

History of Political EconomyDuke University Press

Published: Sep 1, 2004

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