Re: turn to monetarism query

[STEPHEN BLOCK <blocks@xxxxxxxxxxxxxxxxxxx>]

Title: Re: turn to monetarism query

Thanks Clifford. I've read that book. But I cannot entirely agree. Volcker, from what I recall, for example, was Kissinger's idea. Aside from that, the elimination of wage and price controls policy in favour of monetary tightening it seems to me was the real beginning of it all, albeit the precursor to what you have mentioned. But thanks again and perhaps others would see it your way.

Stephen
>  

> I do not think Nixon turned to monetarism. Read Bill Greider's "Secrets of the Temple" for an account of the turn to monetarism in the US. He says it came later in 1978 under Carter with the appointment of Volcker.
> > -----Original Message-----
> > From: STEPHEN BLOCK [mailto:blocks@xxxxxxxxxxxxxxxxxxx]
> > Sent: Wednesday, June 11, 2003 8:08 AM
> > To: pkt@xxxxxxxxxxxxxxxx
> > Subject: Re: turn to monetarism query
>
>
>  In the early 70's, Nixon turned away from wage and price control in favour of monetary solutions (to combat inflation). Can anyone cite any good accounts of this? It can be within the broader context of the turn to monetarism in the US and the UK, but my interest is on Nixon's doing this, the possible motivations behind it and the effects these changes had on the direction of economic policy. Obviously this is a large subject, but my interest is really on the kinds of debates around this turn around that time. But any other suggestions would be appreciated.
>
> Thanks
>
> Stephen
> >