Government and the American Economy

Government and the American Economy

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The American economy has provided a level of well-being that has consistently ranked at or near the top of the international ladder. A key source of this success has been widespread participation in political and economic processes. In The Government and the American Economy, leading economic historians chronicle the significance of Americaa€™s open-access society and the roles played by government in its unrivaled success story. Americaa€™s democratic experiment, the authors show, allowed individuals and interest groups to shape the structure and policies of government, which, in turn, have fostered economic success and innovation by emphasizing private property rights, the rule of law, and protections of individual freedom. In response to new demands for infrastructure, Americaa€™s federal structure hastened development by promoting the primacy of states, cities, and national governments. More recently, the economic reach of American government expanded dramatically as the populace accepted stronger limits on its economic freedoms in exchange for the increased security provided by regulation, an expanded welfare state, and a stronger national defense.This was true even in police departments, an area where one would like to believe that sound public policy rose above localpolitics. As one ... For example, under the New York law, potential employees ostensibly had to pass a civil service exam before the city could hire them. ... Reformers successfully pushed through legislation in Illinois (1905), Wisconsin (1905), Colorado (1907), New Jersey (1908), anbsp;...

Title:Government and the American Economy
Author:Price V. Fishback
Publisher:University of Chicago Press - 2008-09-15


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