The New Economics One Decade Older

The book delves into the efforts of the Kennedy Council of Economic Advisers in the 1960s to reshape economic policy by challenging traditional views on the business cycle and deficit spending. James Tobin provides a compelling account of the New Economics, highlighting its successes and failures, as well as the emotional highs and lows experienced by economists involved in this transformative period. Drawing from his personal experience in policymaking during the Kennedy administration, Tobin offers a unique perspective on the impact of these economic theories.