Re: turn to monetarism query

[Clifford Poirot <cpoirot@xxxxxxxxxxx>]

I'd be interested to see what some others have to say. Greider portrays the
situation as a decisive shift to monetary tightening with the appointment of
Volcker. Is this an accurate picture?


-----Original Message-----
From:	STEPHEN BLOCK [mailto:blocks@xxxxxxxxxxxxxxxxxxx]
Sent:	Fri 6/13/2003 5:54 PM
To:	Clifford Poirot; pkt@xxxxxxxxxxxxxxxx
Cc:	
Subject:	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