A Year Inside the Beltway : Making Economic Policy in Washington.

Cover -- A YEAR INSIDE THE BELTWAY -- Contents -- Illustrations -- CHARTS -- MAP -- TABLES -- Abbreviations -- Preface -- Introduction -- WHAT IS ECONOMIC POLICY? -- A TOUR OF WASHINGTON -- THE PROCESS OF MAKING ECONOMIC POLICY -- CRITICS OF THE PROCESS -- METHODOLOGY -- THE STRUCTURE OF THE BOOK -- Part I Making Domestic Economic Policy in Washington -- 1 The State of the U.S. Economy -- THE CURRENT STATE OF THE ECONOMY -- THE TECHNOLOGICAL REVOLUTION -- U.S. FINANCIAL MARKETS -- CHANGING STRUCTURE OF THE U.S. ECONOMY -- THE ECONOMIC OUTLOOK -- 2 Making Fiscal Policy in Washington -- THE STATE OF THE FEDERAL BUDGET -- THE BUDGET PROCESS -- FISCAL POLICYMAKING FROM REAGAN TO CLINTON -- BUDGET OUTLOOK -- FISCAL POLICY DEBATES -- 3 Case Study: The American Welfare State -- THE SOCIAL SECURITY SYSTEM -- MEDICARE, MEDICAID, AND OTHER HEALTH CARE ISSUES -- POVERTY IN THE UNITED STATES AND THE WELFARE REFORM OF 1996 -- FEDERAL AID TO EDUCATION, HEAD START, AND SUBSIDIZED CHILDCARE -- 4 Making Monetary Policy in Washington -- THE PROCESS OF MAKING MONETARY POLICY -- A BRIEF HISTORY OF THE FED (1913 TO THE PRESENT) -- MAKING MONETARY POLICY UNDER CHAIRMAN PAUL VOLCKER (1979-1987) -- MAKING MONETARY POLICY UNDER CHAIRMAN ALAN GREENSPAN (1987 TO THE PRESENT) -- CURRENT INFLATION OUTLOOK -- 5 Case Study: The Federal Reserve as Financial Crisis Manager -- THE CASE STUDY: CHAIRMAN GREENSPAN AND THE STOCK MARKET CRASH OF 1987 -- COMPARISON OF BULL RUNS, CRASHES, AND AFTERMATHS -- "IRRATIONAL EXUBERANCE" IN THE CURRENT STOCK MARKET? -- POLICY OPTIONS IN THE FACE OF A BUBBLE -- 6 Making Labor Policy in Washington -- THE STATE OF "WORKING AMERICA" IN HISTORICAL PERSPECTIVE -- THE STATE OF "WORKING AMERICA" COMPARED TO OTHER COUNTRIES -- LABOR LEGISLATION -- THE ROLE OF ACTIVISM IN MAKING LABOR POLICY IN WASHINGTON -- ECONOMIC DEBATES ON LABOR POLICY.

OUTLOOK FOR MAKING LABOR POLICY IN WASHINGTON -- 7 Case Study: Women and the Economy -- THE ECONOMIC STATUS OF WOMEN IN THE UNITED STATES OVER TIME -- THE ECONOMIC STATUS OF WOMEN IN THE UNITED STATES COMPARED TO OTHER COUNTRIES -- THE ROLE OF POLICYMAKING IN THE ECONOMIC STATUS OF WOMEN -- THE OUTLOOK FOR FUTURE PROGRESS -- Part II Making International Economic Policy in Washington -- 8 The State of the Global Economy -- THE STATE OF THE GLOBAL ECONOMY -- GLOBALIZATION -- OUTLOOK -- 9 Making Trade Policy in Washington -- MAKING TRADE POLICY FROM FDR TO CLINTON -- THE ARGUMENTS FOR FURTHER EXPANSION OF FREE TRADE -- LABOR'S VISION OF THE NEW INTERNATIONALISM -- THE VIEW FROM THE DEVELOPING WORLD -- THE OUTLOOK FOR TRADE POLICY -- 10 Case Study: Exchange Rates and the U.S. Treasury -- BACKGROUND: THE BRETTON WOODS SYSTEM OF FIXED EXCHANGE RATES -- THE CASE STUDY: THE PLAZA ACCORD IN 1985, HISTORY'S LARGEST INTERVENTION IN CURRENCY MARKETS -- THE CURRENT SITUATION AND OUTLOOK -- 11 Making International Monetary and Financial Policy in Washington -- WHAT IS THE IMF? -- MAKING INTERNATIONAL MONETARY AND FINANCIAL POLICY AT THE IMF AND THE U.S. TREASURY FROM REAGAN TO CLINTON -- The 1980s -- The 1990s -- The Year 2000 -- OUTLOOK UNDER THE GEORGE W. BUSH ADMINISTRATION -- 12 Case Study: Reforming the International Monetary Fund -- SHOULD DEVELOPING COUNTRIES OPEN THEIR MARKETS TO GLOBAL CAPITAL? -- THEORIES OF HOW INTERNATIONAL FINANCE WORKS -- POLICY OPTIONS FOR TAMING GLOBAL FINANCE AND REFORMING THE IMF -- 13 Making Economic Development Policy at the World Bank -- THE CURRENT STATE OF DEVELOPING COUNTRIES AND FOREIGN DIRECT INVESTMENT (FDI) -- MAKING ECONOMIC DEVELOPMENT POLICY FROM BRETTON WOODS TO WOLFENSOHN -- Project Lending -- International Development Association (IDA) -- Theories of Economic Development and Research.

Structural Adjustment Loans (SALs) -- Back to Poverty Alleviation -- Heavily Indebted Poor Countries (HIPC) Initiative -- REFORMING THE WORLD BANK, THE CONDUCT OF MULTINATIONAL CORPORATIONS (MNCs), AND PROTECTIONISM IN DEVELOPED COUNTRIES -- 14 Case Study: Chinese Economic Development -- WORLD BANK LENDING IN CHINA AND FOREIGN DIRECT INVESTMENT -- MAKING ECONOMIC POLICY IN BEIJING -- Mao Zedong (1949-1977) -- Deng Xiaoping (1978-1993) -- Zhu Rongji (1993-2003) -- REMAINING PROBLEMS -- U.S. POLICY TOWARD CHINA -- Conclusion -- Postscript -- Appendix -- WASHINGTON SEMESTER IN ECONOMIC POLICY, AMERICAN UNIVERSITY, WASHINGTON, D.C. -- Bibliography -- Index -- About the Author.

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