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• Chapter One: Guidelines: Debated and Implemented
• Chapter Two: Wage and Price Controls: Bad Economics Brings Bad Policy
• Chapter Three: Damage Control as the Economy Fights Back
• Chapter Four: Reversal and Reform: Good Economics Generates Good Policy
• Chapter Five: Orthodox Policies and Strategic Thinking Work
• Appendix A: Timeline of Key Events
• Appendix B: Letter from Arthur Burns to President Nixon, June 22, 1971 Appendix C: Economic Strategy for the Reagan Administration: A Report to President-Elect Ronald Reagan from His Coordinating Committee on Economic Policy, November 16, 1980
• Appendix D: Frequently Asked Questions
• Notes
• References for Further Reading
• Acknowledgments
• About the Authors
• Index

What are the keys to good economic policy? George P. Shultz and John B. Taylor draw from their several decades of experience at the forefront of national economic policy making to show how market fundamentals beat politically popular government interventions-be they from Democrats or Republicans-as a recipe for success. Choose Economic Freedom reconstructs debates from the 1960s and 1970s about the use of wage and price controls as tools of policy, showing how brilliant economists can hold diametrically opposed views about the wisdom of using government intervention to spur the economy. Speeches and documents from the era include a recently unearthed memo from Arthur Burns, Federal Reserve chair, in 1971, in which he argues in favor of controls. Under Burns's guidance and in the face of stubborn inflation, Nixon introduced wage and price guidelines and freezes. But over the long run, these became a drag on the economy and ultimately failed. It wasn't until the Reagan administration that these controls were reversed, resulting in a vibrant economy. The words of iconic economist Milton Friedman-whose "free to choose" ethos inspired the free-market revolution of the Reagan era-along with lessons Shultz and Taylor learned from the front lines, demonstrate that tried-and-true economic policy works.
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• Preface / by Zoë Baird
• To bend history
• Fresh chances in a networked world
• Connect to a world of buyers
• Invest in main street America
• Share the knowledge, innovate the jobs
• Better made, in America
• Match Americans to opportunities
• Prepare for the life you want
• Drift or mastery?
• Acknowledgments
• Notes
• Index.

Amid the biggest economic transformation in a century, many Americans are uncertain about the future-there are many paths to opportunity but few people travel them. In America's Moment, American CEOs, technologists, community leaders, educators, management experts and government officials suggest an agenda for an exciting future in this time of change. Illustrated by people who are showing the way, it includes action people can take in their own community: preparing for success; using the reach of the Internet and data to innovate jobs and to reach new markets; using technology to match employers and workers; and transitioning to a "no-collar" working world. America's Moment describes how the forces of change can become tools that open opportunity to everyone.
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• Background facts / James Piereson
• The broad-based rise in return to top talent / Joshua D. Rauh
• The economic determinants of top income inequality / Charles I. Jones
• Intergenerational mobility and income inequality / Jörg L. Spenkuch
• The effects of redistribution policies on growth and unemployment / Casey B. Mulligan
• Income and wealth in America / Kevin M. Murphy and Emmanuel Saez
• Conclusions and solutions / John H. Cochrane, Lee E. Ohanian, and George P. Shultz
• Remembering Gary Becker / Edward P. Lazear and George P. Shultz.

Drawing from a 2014 Hoover Institution Conference on Inequality in honor of Gary Becker, a group of distinguished contributors explore various measures of inequality in America and address the issue of whether or not it is increasing. In looking at this question and examining policy implications, the authors draw on research on human capital and intergenerational mobility. The authors suggest that the emphasis on inequality and redistribution, while not wrong, is nevertheless misplaced, for it may lead us to adopt policies that will disrupt the progress we have made while doing nothing to promote the kind of growth that is essential to national progress.
(source: Nielsen Book Data)

• Part I. China's economy
• Part II. US economy and other issues
• Part III. US-China interactions
• Part IV. Japan, Korea, India
• Part V. Other regions and issues.

In this wide-ranging collection of essays first published between 2007 and 2014, Charles Wolf Jr. shares his insights on the world's economies, including those of China, the United States, Japan, Korea, India, and others. First appearing in such periodicals as in the Wall Street Journal, Forbes, and the Weekly Standard, among others, these chapters take on a range of questions about the global economy. Wolf discusses the paradoxes and puzzles within China's political economy and in its interactions with the United States. He analyses the shortcomings of Keynesian economics as a response to the 2008 recession, as well as the weaknesses of policies and actions inferred from the theory, and compares those weaknesses with those of austerity policies intended to limit government spending and indebtedness. He also offers his views on economic inequality and where its principal sources may truly lay, China's currency and the continuing controversy about whether and when it may become a major international reserve currency, and many more insights on key economic issues affecting the global economy. Bringing these essays together for the first time in a single volume, including two essays not yet published elsewhere (one dealing with the recovery's puzzles, the other with the laudable but not necessarily best policies resulting from bipartisanship), this book enables the reader to absorb the author's expert perspective during the years in a collection in which the whole is truly greater than the sum of its parts. Each chapter includes a brief "post audit" in which the author attempts to grade how well or ill the essay seems in retrospect.
(source: Nielsen Book Data)

• Foreword MICHAEL BLOOMBERG ix Acknowledgments xiii
• 1 The Art of Being Unreasonable 1
• 2 Why Not? The Powerful Question 7
• 3 Forget Conventional Wisdom 14
• 4 Do Your Homework No Matter How Much Time It Takes 23
• 5 The Value of Being Second 31
• 6 How to Work 24/7 and Still Get 8 Hours of Sleep 38
• 7 Bright and Young Is a Winning Combination 44
• 8 Risk 53
• 9 How to Get Results 58
• 10 Leverage 64
• 11 Marketing 71
• 12 Investing 79
• 13 Negotiation 85
• 14 The Logic of Being Logical 94
• 15 I Ain't Nothing but a Hound Dog 100
• 16 Is That the Best You Can Do? Motivating People by Challenging Them 109
• 17 Competition 116
• 18 It's Better to Be Respected Than Loved 124
• 19 Giving Back 133
• 20 Education: Never Let a Crisis Go to Waste 139
• 21 The Unreasonableness of Art and Artists 147
• 22 Reflections and Second Thoughts 156 Appendix Eli Broad Career Highlights 166 Index 178.
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Unorthodox success principles from a billionaire entrepreneur and philanthropist Eli Broad's embrace of "unreasonable thinking" has helped him build two Fortune 500 companies, amass personal billions, and use his wealth to create a new approach to philanthropy. He has helped to fund scientific research institutes, K-12 education reform, and some of the world's greatest contemporary art museums. By contrast, "reasonable" people come up with all the reasons something new and different can't be done, because, after all, no one else has done it that way. This book shares the "unreasonable" principles from negotiating to risk-taking, from investing to hiring that have made Eli Broad such a success. * Broad helped to create the Frank Gehry-designed Walt Disney Concert Hall, the Museum of Contemporary Art, the Broad Contemporary Art Museum at the Los Angeles County Museum of Art, and The Broad, a new museum being built in downtown Los Angeles * His investing approach to philanthropy has led to the creation of scientific and medical research centers in the fields of genomic medicine and stem cell research * At his alma mater, Michigan State University, he endowed a full-time M.B.A. program, and he and his wife have funded a new contemporary art museum on campus to serve the broader region * Eli Broad is the founder of two Fortune 500 companies: KB Home and SunAmerica If you're stuck doing what reasonable people do and not getting anywhere let Eli Broad show you how to be unreasonable, and see how far your next endeavor can go.
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• Economic strength and American leadership / George P. Shultz
• Uncertainty unbundled : the metrics of activism / Alan Greenspan
• Has economic policy uncertainty hampered the recovery? / Scott R. Baker, Nicholas Bloom, and Steven J. Davis
• How the financial crisis caused persistent unemployment / Robert E. Hall
• What the government purchases multiplier actually multiplied in the 2009 stimulus package / John F. Cogan and John B. Taylor
• The labor productivity puzzle / Ellen R. McGrattan and Edward C. Prescott
• Why the U.S. economy has failed to recover and what policies will promote growth / Kyle F. Herkenhoff and Lee E. Ohanian
• Restoring sound economic policy : three views / Alan Greenspan, George P. Shultz, and John H. Cochrane.

How government policies are slowing economic growth The slow recovery from the recession of 2007-9 raises fundamental economic and public policy concerns. Government Policies and the Delayed Economic Recovery examines some possible causes of the weak recovery and presents empirical evidence that too much policy activism and other policy shortcomings have held back economic growth. The book examines a wide range of policies that have led to the delayed economic recovery, from increased regulation to ineffective programs that have driven up the public debt. Although their opinions are not always the same, together the contributors reveal a common theme: the delayed recovery has been due to the enactment of poor economic policies and the failure to implement good ones. The authors conclude their analysis by providing a framework for how policies should change to restore strong economic growth.
(source: Nielsen Book Data)