Inflation & the Nixon administration.

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Facts on File , New York
Wage-price policy -- United States., Inflation (Finance) -- United States., United States -- Economic policy -- 1971-

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United States, United St

StatementEdited by Lester A. Sobel. Contributing editors: Joseph Fickes, Joanne Edgar [and] Susan J. Shoch.
SeriesA Facts on File publication
ContributionsFacts on File, Inc.
Classifications
LC ClassificationsHC106.6 .S6
The Physical Object
Pagination2 v.
ID Numbers
Open LibraryOL5067384M
ISBN 100871962756
LC Control Number74075153

During the early s, however, prices rose by considerably higher percentages, leading President Nixon to implement wage-and-price controls in Stagflation–the combination of high unemployment and economic stagnation with inflation–became common in the industrialized countries during the s.

Additional Physical Format: Online version: Sobel, Lester A. Inflation & the Nixon administration. New York, Facts on File [] (OCoLC) We read of Shultz resigning his position under Nixon when Nixon continued to support what he (and Friedman) thought to be bad economics.

There followed ten years of pointless inflation with Nixon, Ford, and Carter. Then, finally inRonald Reagan, Paul Volcker, and Shultz wound the inflation down back to what it could have been in Nixon's policies dampened inflation inbut their aftereffects contributed to inflation during his second term and into the Ford administration.

[] As Nixon began his second term, the economy was plagued by a stock market crash, a surge in inflation, and the oil crisis. []Cabinet: See list.

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Start studying Chapter Learn vocabulary, terms, and more with flashcards, games, and other study tools. Search. Browse. How did the Nixon administration use the CIA in the Watergate cover-up.

The combination of high inflation with a stagnant economy and high unemployment was referred to as. -Nixon had promised to uphold law and order, and his administration went after antiwar protesters.

-Nixon attacked the recent supreme court rulings that expanded the rights of accused criminals -He promised to fill vacancies on the Court with judges who would support the rights of law enforcement over the rights of suspected criminals.

The Ford administration fared no better in its efforts. After declaring inflation “enemy number one,” the president in introduced the Whip Inflation Now (WIN) program, which consisted of voluntary measures to encourage more thrift.

It was a failure. By the late s, the public had come to expect an inflationary bias to monetary policy. Inflation & the Nixon administration, (, volume 1) [Lester Sobel] on *FREE* shipping on qualifying : Lester Sobel.

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InNixon devalued the dollar even further, making an ounce of gold worth $ As the dollar devalued, people sold their greenbacks for gold. By lateNixon decoupled the dollar from gold completely.

The market quickly sent the price of the precious metal. Readers, interested in economic and/or social welfare policy in the Nixon administration, will find Ferrells book immensely helpful as it provides an invaluable inside perspective from an official whose candid private views on such matters were heretofore little known also should prove intriguing to anyone fascinated by the political /5(7).

Shultz: The nation’s economic problems predated the Nixon administration. In the early s, the Kennedy administration wanted to stimulate the economy while keeping inflation in check.

So they created wage and price guidelines, which were a precursor to wage and price controls. A decade later, he was undersecretary for monetary affairs and warned the Nixon administration it had only two years to save the dollar. AD In short, Volcker was a : Roger Lowenstein.

Nixon administration presided over the creation of a variety of programs and poli-cies that are now part of everyday life. Most scholars say that on domestic issues, Nixon was pragmatic.

As Nixon scholar Dean J. Kotlowski put it in A Companion to Richard M. Nixon: A Republican President, elected in part because of backlash against the. This is the gruesome story of the great inflation of the s, which began in late and didn't end until the early s.   In his book, "Stocks for the Long Run: A Guide for Long-Term Author: Leslie Kramer.

The Nixon Administration, which is now seeking to stim ulate an economic recovery though inflation continues, is scarcely in a position to deny the. Nixon, Price Controls, and the Gold Standard.

Excerpt from The Commanding Heights by Daniel Yergin and Joseph Stanislaw, ed., pp. Richard Milhous Nixon (January 9, – Ap ) was the 37th president of the United States, serving from until The nation's 36th vice president from tohe came to national prominence as a representative and senator from five years in the White House that saw the conclusion to the U.S.

involvement in the Vietnam War, and the establishment of the Preceded by: Lyndon B. Johnson. "Inside the Nixon Administration: The Secret Diary of Arthur Burns," covers five of the most astounding years in monetary history By Seth Lipsky Updated Nov. 30, am ET. The Robinson Library >> Richard Nixon's Administration, After taking office as President, Nixon won respect for his conduct of foreign policy.

He ended U.S. military participation in the Vietnam War and eased the tension that had existed for years between the. Through this book, Matusow blames the economic slump of the s on the Nixon administration by analyzing its failures and inflationary policies.

At the end of Nixon’s presidency, with what Matusow calls “The Great Recession”, Nixon’s inconsistent rollercoaster economy of booms and busts would continue into the s and beyond. or whack away at Federal programs, a frustrating exercise in any Administration. With inflation widely regarded as economic enemy number one, Mr.

Nixon is. Primary sources. The Public Papers of the Presidents of the United States, Richard Nixon,6 vol. (Washington: U.S. Government Printing Office, ).

Foreign Relations of the United States: Nixon-Ford Administrations; By Richard Nixon. The Challenges We Face: Edited and Compiled from the Speeches and Papers of Richard M.

Nixon () ISBN In Augustspurred by high inflation rates, Nixon imposed wage and price controls in an effort to gain control of price levels in the U.S. economy; at the same time, prompted by worries over the soundness of U.S.

currency, Nixon took the dollar off the gold standard and let it. Whether or not the president ordered the Watergate break-in, the White House launched a massive cover-up. Administration officials ordered the CIA to halt the FBI investigation and paid hush money to the burglars and White House aides.

Nixon distanced himself from the incident publicly and went on to win a landslide election victory in November. BOOK REVIEW: 'Fight House' (Whip Inflation Now) slogan and button, widely panned.

The Nixon administration, despite being best remembered. For the Nixon administration export promotion was just one facet of economic policy. A comprehensive approach called for a liberal investment regime, improved taxation, and further monetary reform.

In Februaryin a bid to keep the pressure on the South Vietnamese, Nixon requested his Ambassador-at-Large for Foreign Economic Policy Author: Simon Toner. The most daunting domestic issue Nixon faced was the economy.

Fighting the war in Vietnam and paying for Johnson's Great Society had led to inflation, which Nixon first tried to control by increasing interest rates and cutting federal spending.

Inflation remained high and unemployment increased, a condition that economists labeled stagflation. With inflation and unemployment both on the rise, Nixon's appointee to chair the Federal Reserve, Arthur Burns, shifted from a tight-money policy. Early in the president began to criticize unions and management for agreeing to excessive wage increases in the steel industry.

This phenomenon of “ stagflation ”—a term that combined the economic conditions of stagnation and inflation—outlived the Nixon administration, enduring into the early s.

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The origins of the nation’s new economic troubles were not just a matter of policy. In the early s he served as director of financial analysis in President Kennedy’s Treasury Department and a decade later was a principal strategist in. First Lady: Thelma Nixon: Vice President: Spiro T.

Agnew (–) Vice President: Gerald Ford (–) Secretary of State: William P. Rogers (–).Nixon had won only 43 percent of the vote in and carried neither house of Congress with him -- the first elected president since Zachary Taylor to begin his administration with both branches.Inflation and unemployment --Case studies --Public policy --Nixon administration --Ford administration --Ford economic team --Congress and inflation --Ford budget cuts --Ford's Nov.

26 budget text --Ford's Oct. 8 inflation text.