Economic Policy in the Carter Administration

A new administration, a new Congress and a new corps of economic advisers is commonly the occasion to reconsider the strategy for the future, the successes and failures of the past, and the long-term consequences of current actions« Early impressions are subject to revision, in much the same way that economic statistics are revised, and I hope that my early impression of Carter administration policies will be as incorrect as the forecasts of those who found real meaning in the so-called "pause" last fall.