Alan S. Blinder on Monetary and Fiscal Policy: Rowing with Both Oars
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The Nixon Burns Episode
In 1968, Johnson was urging the Congress to raise taxes as an anti-inflationary device. Richard Nixon had a simpler view of fiscal dominance: The White House should dominate the Federal Reserve. Jimmy Carter saw the economy as still maybe a little bit weak and advocated a tiny stimulus when he came into office. And then there is this legend, I don't know whether it's an exaggeration, that G William Miller didn't do his job on inflation.
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