William R. Keech's Books

Economic Politics in the United States

The Costs and Risks of Democracy

By: William R. Keech

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Economic Politics in the United States

The Costs and Risks of Democracy

By: William R. Keech

Employing macroeconomic performance as a lens to evaluate democratic institutions, the author uses models of political behavior that allow for opportunism on the part of public officials and shortsightedness on the part of voters to see if democratic institutions lead to inferior macroeconomic performance. We have learned more about how and why democracy can work well or badly in the years since the first edition was published. It was not previously apparent how much the good performance of democracy in the United States was contingent on informal rules and institutions of restraint that are not part of the definition of democracy. Since that first edition, the United States has experienced soaring indebtedness, unintended adverse consequences of housing policy, and massive problems in the financial system. Each of these was permitted or encouraged by the incentives of electoral politics and by limitations on government, the two essential features of democratic institutions.

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Page Count

305

Publisher

Cambridge University Press

Published Date

ISBN 10

1107469805

ISBN 13

9781107469808

Economic Politics

The Costs of Democracy

By: William R. Keech

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Economic Politics

The Costs of Democracy

By: William R. Keech

This book raises and addresses questions about the consequences of democratic institutions for economic performance.

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260

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Cambridge University Press

Published Date

ISBN 10

0521467683

ISBN 13

9780521467681

Capitalism, Not Globalism

Capital Mobility, Central Bank Independence, and the Political Control of the Economy

By: William Roberts Clark

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Capitalism, Not Globalism

Capital Mobility, Central Bank Independence, and the Political Control of the Economy

By: William Roberts Clark

Capitalism, Not Globalism shows that, while much has been made of recent changes in the international economy, the mechanisms by which politicians control the economy have not changed throughout the postwar period. Challenging both traditional and revisionist globalization theorists, William Roberts Clark argues that increased financial integration has led to neither a widening nor a narrowing of partisan differences in macroeconomic polices or outcomes. Rather, he shows that the absence of partisan differences in macroeconomic policy is a long-standing feature of democratic capitalist societies that can be traced to politicians' attempts to use the economy to help them survive in office. Changes in the structural landscape such as increased capital mobility and central bank independence do not necessarily diminish the ability of politicians to control the economy, but they do shape the strategies they use to do so. In a world of highly mobile capital, politicians manipulate monetary policy to create macroeconomic expansions prior to elections only if the exchange rate is flexible and the central bank is subservient. But they use fiscal policy to induce political business cycles when the exchange rate is fixed or the central bank is independent. William Roberts Clark is Assistant Professor, Department of Politics, New York University.

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Page Count

223

Publisher

University of Michigan Press

Published Date

ISBN 10

0472024914

ISBN 13

9780472024919

Economic Politics in the United States

The Costs and Risks of Democracy

By: William R. Keech

Write a review Read reviews Take a Quiz Solve Book Puzzle

Economic Politics in the United States

The Costs and Risks of Democracy

By: William R. Keech

Average ratings

N/A

Write a review

Solve jigsaw puzzle

Age

Page Count

305

Publisher

Cambridge University Press

Published Date

ISBN 10

1107469805

ISBN 13

9781107469808

Book's by William R. Keech

Economic Politics in the United States

Economic Politics in the United States

Economic Politics

Economic Politics

Capitalism, Not Globalism

Capitalism, Not Globalism

Economic Politics in the United States

Economic Politics in the United States

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