Rewarding is Campagna's broad-sweep analysis of US macroeconomic policy under the several political regimes since WW I, evaluating whether these policies were `justified,' `successful,' and `rational.' Impressive historical scholarship brings alive the views and personalities of the times and provides immense detail concerning economic settings and problems of each period. Choice



This book examines the various economic problems of the past 70 years and critically evaluates what has been done to solve them. Claiming that previous macroeconomic policies have not been successful largely because of political problems, the book presents a cogent argument for the need for new institutions to conduct rational policies in the future.