Arthur F. Burns - Sources

Sources

  • Burns, Arthur F. Inside the Nixon Administration: The Secret Diary of Arthur Burns, 1969–1974 (University Press of Kansas, 2010); refviewed by Doug French, "Burns Diary Exposes the Myth of Fed Independence," Mises Institute.
  • Burns, Arthur F. Reflections of an Economic Policy Maker: Speeches and Congressional Statements: 1969–1978 (AEI Studies no. 217; Washington: American Enterprise Inst., 1978); reviewed by Paul W. McCracken, "Reflections of an Economic Policy Maker: a Review Article" in Journal of Economic Literature 1980 18(2): 579–585. ISSN 0022-0515 Fulltext online at Jstor and Ebsco.
  • Burns, Arthur F. "Progress Towards Economic Stability." American Economic Review 1960 50(1): 1–19. ISSN 0002-8282 Fulltext in Jstor and Ebsco. Abstract: Views economic growth, 1929–59; discusses corporate growth, government subsidies, increased consumer expenditures, rise in personal income, industrialization, and overall improvement in economic organization.
  • Engelbourg, Saul. "The Council of Economic Advisers and the Recession of 1953–1954." Business History Review 1980 54(2): 192–214. ISSN 0007-6805 Fulltext in Jstor. Abstract: The 1953–54 recession was the first in which a Council of Economic Advisers (CEA) appointed by a Republican President, Dwight D. Eisenhower, recommended policy actions. Despite traditional Republican Party rhetoric, the CEA supported an activist contracyclical approach that helped to establish Keynesianism as a bipartisan economic policy for the nation. Especially important in formulating the CEA response to the recession – accelerating public works programs, easing credit, and reducing taxes – were Arthur F. Burns and Neil H. Jacoby.
  • Leeson, Robert. "The Political Economy of the Inflation-unemployment Trade-off." History of Political Economy 1997 29(1): 117–156. ISSN 0018-2702 Fulltext in Swetswise and Ebsco. Abstract: Reviews the debate over the inflation-unemployment trade-off, which was a critical part of the 1960 presidential election campaign. At the 1959 American Economic Association Conference (AEAC), Paul Samuelson and Robert Solow, economists from the Massachusetts Institute of Technology, argued that the application of American wage and price statistical data to the Phillips curve indicated high levels of employment could be achieved with moderate levels of inflation. While this proposition supported John F. Kennedy's goal of minimizing unemployment, Richard Nixon advocated zero inflation and was supported in this policy by Arthur Burns, who delivered the 1959 AEAC presidential address. Burns was an opponent of Keynesian economics and personified the anti-Keynesian sentiment that prevailed in the United States in the 1950s. Keynesianism and communism were seen by many at the time to be one and the same.
  • Throckmorton, H. Bruce. "The Moral Suasion of Arthur F. Burns: 1970–1977." Essays in Economic and Business History 1991 9: 111–121. ISSN 0896-226X. Abstract: Reviews key words in Arthur F. Burns's testimony on various occasions before the Joint Economic Committee of Congress while he served as chairman of the Board of Governors of the Federal Reserve System, 1970–78. Correlates the key words with rates of inflation and interest rates to determine if there is a relationship between key words of testimony and selected economic variables.
  • Wells, Wyatt C. Economist in an Uncertain World: Arthur F. Burns and the Federal Reserve, 1970–78. Columbia U. Press, 1994. 334 pp.

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