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Invented in America: Birth and Evolution of the Cyclically Adjusted Budget Rule, 1933-61.
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- Author(s): Costantini, Orsola
- Source:
History of Political Economy; 3/1/2018, Vol. 50 Issue 1, p83-117, 35p
- Subject Terms:
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- Subject Terms:
- Abstract:
The article discusses the evolution of the cyclically adjusted budget concept during its early stages. Topics discussed include the strands of economic theory that sanction fluctuation of public budgets in accordance with the economic cycle, and the notion of a high employment budget that was pioneered by the US Committee for Economic Development economists.