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Architects of AusterityInternational Finance and the Politics of Growth$
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Architects of Austerity: International Finance and the Politics of Growth

Aaron Major

Print publication date: 2014

Print ISBN-13: 9780804788342

Published to Stanford Scholarship Online: September 2014

DOI: 10.11126/stanford/9780804788342.001.0001

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PRINTED FROM STANFORD SCHOLARSHIP ONLINE (www.stanford.universitypressscholarship.com). (c) Copyright Stanford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in SSO for personal use.date: 17 September 2021

Global Finance and the U.S. Growth Agenda

Global Finance and the U.S. Growth Agenda

Chapter:
(p.126) 6 Global Finance and the U.S. Growth Agenda
Source:
Architects of Austerity
Author(s):

Aaron Major

Publisher:
Stanford University Press
DOI:10.11126/stanford/9780804788342.003.0006

This chapter is a case study of the global constraints on United States economic policy making in the early 1960s, focusing on a brief but critical moment when the Kennedy administration attempted to carve out a new growth strategy for the American economy. Focusing on monetary policy, this chapter shows how the Kennedy administration was forced to compromise key aspects of its economic agenda due to the same balance of payments financing pressures that the Labour government faced.

Keywords:   Kennedy administration, Council of Economic Advisors, Revenue Act of 1964, Operation Twist, Federal Reserve, balance of payments, financial dependency

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