Nobel Prize winner James Tobin has made outstanding contributions to modern macroeconomics. In this final collection of his work he examines the economic policies of the United States and its relations with other major economies after 1990. In James Tobin's view, the welfare of populations...

Challenging such established ideas as the inevitability of the business cycle and the taboo on deficit spending, the group of economists associated with the Kennedy Council of Economic Advisers attempted in the 1960s to convert their theories into government policy. The successes, failures,...

Finn E. Kydland and Edward C. Prescott (1991), 'Hours and Employment Variation in Business Cycle Theory', Economic Theory, 1 (1), January, 63-81 -- David K. Backus, Patrick J. Kehoe and Finn E. Kydland (1992), 'International Real Business Cycles', Journal of Political Economy, 100 (4), August,...

Frontmatter -- Preface -- Contents -- Introduction: The American business creed as ideology -- Part 1: The content of the Creed -- The American System and its achievements -- The American Business Enterprise -- The Functions and Rewards of Ownership -- The Business Executive -- Business and...