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Principles Of Government

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Lessons From the Great Inflation of 1973-81 A

By Phil Gramm and Mike Solon - Aug. 2, 2022

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved.

Principles of Government · August 27, 2022 ·

Then as now, what drove higher prices was excess demand owing to runaway government spending. Ronald Reagan and Paul Volcker understood.

Excerpt

Then as now, what drove higher prices was excess demand owing to runaway government spending. Ronald Reagan and Paul Volcker understood. History withholds its wisdom from those who ignore its lessons. Forty years ago this month, the fiscal policy of President Ronald Reagan and the monetary policy of Federal Reserve Chairman Paul Volcker broke the back of the 20th century’s most destructive inflation, ushered in an economic expansion that effectively lasted a quarter of a century, and banished inflation—until now.

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Filed Under: (A) Fiscal Policy, (A) Monetary Policy, Articles

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Characteristics of Government

  • INTRODUCTION
  • SOCIALISM
  • COMPETITION
  • DEMOCRACY AND VOTING
  • SOCIAL POLICIES EFFECTS ON DEMOCRATIC GOVERNMENT
  • GOALS OF PROGRESSIVISM AND THE MODERN LEFT
  • EVOLVING IDEOLOGIES
  • DEMOCRACIES AND NATIONAL DEFENSE

Principles of Government

  • INTRODUCTION
  • CITIZENSHIP
  • BELIEF SYSTEM
  • GOVERNMENT STRUCTURE AND POLITICAL SYSTEM
  • FISCAL POLICIES
  • SOCIAL POLICIES
  • FREE MARKETS AND REGULATION
  • SOUND MONEY
  • THE RULE OF LAW
  • DEFENSE AND FOREIGN POLICY
  • Conservation and Environment

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Characteristics of Government

  • INTRODUCTION
  • SOCIALISM
  • COMPETITION
  • DEMOCRACY AND VOTING
  • SOCIAL POLICIES EFFECTS ON DEMOCRATIC GOVERNMENT
  • GOALS OF PROGRESSIVISM AND THE MODERN LEFT
  • EVOLVING IDEOLOGIES
  • DEMOCRACIES AND NATIONAL DEFENSE

Principles of Good Government

  • INTRODUCTION
  • CITIZENSHIP
  • BELIEF SYSTEM
  • GOVERNMENT STRUCTURE AND POLITICAL SYSTEM
  • FISCAL POLICIES
  • SOCIAL POLICIES
  • FREE MARKETS AND REGULATION
  • SOUND MONEY
  • THE RULE OF LAW
  • DEFENSE AND FOREIGN POLICY
  • Conservation and Environment

Resources

  • Featured Articles
  • ARTICLES
  • BOOK REVIEWS
  • Books
  • MAJOR THINK TANKS
  • CIVIC EDUCATION WEB RESOURCES
  • Important Conservative Organizations
  • Conservative American Colleges and Universities
  • Print Resources

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