Contenidos : Fiscal Policy on the New Frontier


Inflation and the Rise of Monetarism


The Phillips Curve Becomes Vertical


Nixon, Burns, and the Political Business Cycle

Stagflation and Its Aftermath


Inflation and the Rational Expectations Revolution


Carter, Volcker, and the Conquest of Inflation


Reaganomics and the Clash between Monetary and Fiscal Policy


The Long Expansion of the 1980s


Deficits Crowd Out Fiscal Policy, 1982–1998


The Long Boom of the 1990s


The 2000s: The Job‑Loss Recovery and the Bubbles


The Financial Crisis and the Great Recession

All Together Now: The Fed and the Treasury Join Hands


The Aftermath and the Backlash


The Record Expansion of the 2010s


Trumponomics before the Pandemic


Responding to the Great Pandemic


Sixty Years of Monetary and Fiscal Policy: What’s Changed? (conclusión / reflexión final)

Blinder’s book examines 60 years of U.S. monetary and fiscal policy, from 1961 to 2021, highlighting how government spending, taxation, and central bank actions shaped economic growth, inflation, and crises.

1960s: Fiscal policy was proactive, with tax cuts and spending used to stimulate growth.

1970s: Inflation rose sharply, leading to a monetarist approach where monetary policy gained prominence over fiscal stimulus.

1980s: Efforts by the Federal Reserve (Volcker) tamed inflation; Reaganomics showcased tensions between fiscal expansion and monetary restraint.

1990s: A long economic boom occurred with relatively low inflation and fiscal discipline.

2000s: Job-loss recoveries, housing bubbles, and the financial crisis of 2008 tested the interplay of monetary and fiscal policy.

2010s–2020s: Post-recession expansion, responses to pandemic-induced crises, and experiments with stimulus packages illustrated the limits and flexibility of U.S. economic policy.

Blinder emphasizes how monetary and fiscal policies sometimes cooperated and sometimes conflicted, shaped by political pressures, economic theories (Keynesianism, Monetarism, Rational Expectations), and external shocks. The book concludes with reflections on what has changed—and what has not—in U.S. macroeconomic policymaking over six decades.