Stalemate examines the politics of economic policy formation in the postwar United States. This volume critically reinterprets political sociological approaches to the contemporary state/economy relationship. Mainstream and radical accounts of policymaking processes are compared, and a synthesis is proposed between pluralist, elite, and class-based approaches. The core of this book is a detailed analysis of the origins of the supply-side shift under Kennedy. Winant first empirically examines the explicitly supply-side economic policy initiative, the so-called Kennedy tax cut or Revenue Act of 1964. This initiative set the stage for economic policymaking from the New Frontier to Reagonomics, as Reagan and his advisers frequently acknowledge. The continuity of policy in this crucial time from 1964 to 1984 remains largely unacknowledged in the literature.