The juxtaposition of Kennedy and Reagan approaches to economic problems is particularly instructive in that they express the two major - and quite different - approaches of macroeconomic policy in the past three decades: the 1962 Kennedy Camelot which relied on traditional Keynesian economics, and the 1982 Reagan program which called for a supplyside solution to the country's economic difficulties. From today's vantage point it is useful to compare what these two different groups of economic advisors planned to do, what they did, and what the results were.
With his characteristic acuteness and lucidity, William Baumol, one of America's foremost economists, tackles the problem of equity considerations in welfare economics by applying the novel "superfairness" criterion to the distribution of resources, product, income, and wealth that arises from economic decisions.
In this engrossing biography, Dorothy Stein strips away the many layers of myth surrounding Ada Lovelace's reputation as the inventor of the science of computer programming to reveal a story far more dramatic and fascinating than previous accounts have indicated. Working with original sources, Stein clears up a number of puzzles and misinterpretations of Ada's life and activities.
An article in Fortune a few years ago identified Robert Lucas as "the intellectual leader of the rational-expectations school." An academic colleague has called Lucas "the dominant figure in American macroeconomics." And another refers to this group of 14 essays, nearly all of which were first published during the 1970s, as the most influential contribution to macroeconomics in that decade.
This book discusses the characteristics of the demand for energy—its response over time to changes in prices and in levels of economic activity and the role that energy plays as a consumption good and as a factor in industrial production. The book is particularly concerned with differences in the structure of energy demand across countries and the relationship of energy demand and energy prices to macroeconomic growth in the industrialized countries.