Political Control of the Economy

by Edward R. Tufte

Book Overview

Speculations about the effects of politics on economic life have a long and vital tradition, but few efforts have been made to determine the precise relationship between them. Edward Tufte, a political scientist who covered the 1976 Presidential election for Newsweek, seeks to do just that. His sharp analyses and astute observations lead to an eye-opening view of the impact of political life on the national economy of America and other capitalist...

• Format: Paperback
• Language: English
• ISBN: 0691021805
• ISBN13: 9780691021805
• Release Date: May 1980
• Publisher: Princeton University Press
• Length: 192 Pages
• Weight: 0.55 lbs.
• Dimensions: 0.5" x 6.2" x 8.7"

Customer Reviews

Politics and the economy--a two way street

The premise of this book is stated early on (Page ix): ". . .I seek to show how certain political variables determine macroeconomic outcomes in a systematic and predictable way. In particular, I provide evidence demonstrating the role of elections and political parties in deciding who gets what, when, and how in the political arena." This dynamic is a two-way street. On the one hand, he notes that the state of the economy has an effect on elections. Is the economy in bad shape? The incumbent party takes a beating. Is the economy healthy? The incumbent party may reap some rewards. Hmmm. On the other hand, would that not suggest that the party in power would engage in manipulation of the economy for electoral gain? Tufte also provides some evidence that the party in power will work to "juice up" the economy in an election year. One story: Richard Nixon sending a personal note to all retirees about his administration having increased Social Security payments (coincidentally, the note arrived just before a presidential election, in October of 1972). A golden oldie that still has relevance today. . . .