Age of Greed Study Questions #4 (pg. 144-179)


1. Why was Jimmy Carter's first policy initiative in 1977 not up to the task?

 

 

2. What did Alan Blinder's evidence reveal that contrasted with Milton Friedman's notion that inflation was linked to the money supply?

 

 

3. How did the "Crisis of Confidence" speech usher in Paul Volcker as the new chairman of the Federal Reserve?

 

 

4. What did the anti-government index suggest about who the public blamed for the weakening economic position of the middle class?

 

 

5. After Proposition 13 was passed, what was the change in California's property taxes with respect to the national average?

 

 

6. Who was Arthur Laffer and what did the Laffer Curve presume to illustrate?

 

 

7. When Paul Volcker became chairman of the Federal Reserve, what was his singular purpose and how has that purpose been received in the subsequent 30 years?

 

 

8. How did Paul Volcker's views about the efficiency of capital allocation differ from that of Walter Wriston's?

 

 

9. What was Carter's attitude when Volcker told him the way to rein in inflation was through tightening monetary policy — and how did this differ from Nixon's attitude in 1971?

 

 

10. What is the suggestion by Madrick, according to a Charles Schulze interview years later, as to why Volcker adopted "monetarist claims" in order to fight inflation?

 

 

11. What feat of denial did Ronald Reagan practice with respect to the federal budget?

 

 

12. What was the difference between the projected budget deficit and the actual budget deficit after ronald Reagan's tax cuts were in place?

 

 

13. What was the actual effect of Ronald Reagan's tax cuts for the middle fifth of earners? For the top 1%?

 

 

14. What was Reagan's effect on the Federal Trade Commission?

 

 

15. Why does Madrick say that the claims about economic growth during the Reagan years were exaggerated?