Drawing from their experience as government insiders, George P. Shultz and Kenneth W. Dam show how economic policy is shaped at the highest levels of government. They reveal the interconnections between economic, social, and international policy, covering issues such as the advocacy system and the role of the individual in shaping policy. A new chapter, 'A Changed World,' explores the various influences of our increasingly global economy on economic strategy. With rare candor, authority and breadth of vision, Shultz and Dam have produced a brilliant introduction to economic policy, its principles, and practice. "A model of brevity and lucidity . . . [Economic Policy Beyond the Headlines] incorporates a unique and rewarding blend of economic reasoning with a high level of political awareness . . . enriched by the wide personal experience in government of the authors."—Albert T. Sommers, Across the Board "[Shultz and Dam] help foreign readers to understand why the world looks so different from Washington. . . . This book should provide the model."—The Economist "A wise and valuable book showing great insight into the realities of economic policy making."—Henry A. Kissinger

Economic Policy Beyond the Headlines

Business & Money

Shultz, George P.

Dam, Kenneth W.

Economics

University of Chicago Press

A former U.S. Secretary of the Treasury and an eminent economist tackle the biggest social issue of our time. Of all the issues swirling around the 2008 election, the staggering projected costs for the upkeep of America's largest entitlement programs―Social Security, Medicare, and Medicaid―loom with gathering intensity. Government revenues alone cannot solve the problem, but a solution must be found. In this book George P. Shultz and John B. Shoven take a practical―and optimistic―look at the issues at hand, offering an agenda for reform that will make these essential programs solvent. Drawing on a trove of original research, they take stock of the current situation, consider plans on offer from major thinkers in the field, and chart a course toward a system that provides income for the elderly and universal access to health care in ways that are fiscally sound. This book is a must-read for anyone looking to make an informed decision about the country's future.

Putting Our House in Order: A Guide to Social Security and Health Care Reform

Medical Books

Shoven, John B.

Administration & Medicine Economics

W.W.Norton&Company

A panel of expert contributors offers its views on the risks and rewards of the nuclear enterprise, focusing on issues of safety, regulation, and public perception. Contributors discuss specific experience and issues regarding the technical safety of weapons and power plants, management operations, regulatory measures, and the importance of accurate communication by the media.

The Nuclear Enterprise: High-Consequence Accidents: How to Enhance Safety and Minimize Risks in Nuclear Weapons and Reactors (Volume 626)

Science & Math

Drell, Sidney D.

Technology

Hoover Institution Press

Former Nixon and Reagan cabinet member George Shultz offers his views on how to govern more effectively, get our economy back on track, take advantage of new opportunities in the energy field, combat the use of addictive drugs, apply a strategic overview to diplomacy, and identify necessary steps to achieve a world without nuclear weapons. If we can successfully handle each of these issues, Shultz explains, we in the United States and people in the rest of the world will have the prospect of a better future.

Issues on My Mind: Strategies for the Future (Volume 636)

Issues on My Mind: Strategies for the Future

Politics & Social Sciences

Politics & Government

Concern about the threat posed by nuclear weapons has preoccupied the United States and presidents of the United States since the beginning of the nuclear era. Nuclear Security draws from papers presented at the 2013 meeting of the American Nuclear Society examining worldwide efforts to control nuclear weapons and ensure the safety of the nuclear enterprise of weapons and reactors against catastrophic accidents. The distinguished contributors, all known for their long-standing interest in getting better control of the threats posed by nuclear weapons and reactors, discuss what we can learn from past successes and failures and attempt to identify the key ingredients for a road ahead that can lead us toward a world free of nuclear weapons. The authors review historical efforts to deal with the challenge of nuclear weapons, with a focus on the momentous arms control negotiations between U.S. president Ronald Reagan and Mikhail Gorbachev. They offer specific recommendations for reducing risks that should be adopted by the nuclear enterprise, both military and civilian, in the United States and abroad. Since the risks posed by the nuclear enterprise are so high, they conclude, no reasonable effort should be spared to ensure safety and security.

Nuclear Security: The Problems and the Road Ahead (Hoover Institution Press Publication (Paperback))

History

Kissinger, Henry A.

Nunn, Sam

Military

George P. Shultz recounts a lifetime of experiences in government, business, and academia and describes how those experiences have shaped the way he thinks about the world. In his plainspoken manner, he provides the reader with keys to understanding how he helped bring the nuclear disarmament movement into the mainstream of American policy discussions, why he urges his Republican Party colleagues to adopt measures to address climate change as an insurance policy for the future, why leaders must learn to govern over diversity, and more. Far more than a simple biography, Learning from Experience makes a unique contribution to political, social, and economic thought, offering the author’s reflections on experiences that have influenced his worldview. Ranging far beyond the realm of diplomacy, Shultz’s account illuminates America’s race relations, defines a down-to-earth economic philosophy built on free markets and fair treatment of labor, and identifies the strengths and weaknesses of presidential leadership as observed during his government service, including four cabinet posts, in the Eisenhower, Nixon, and Reagan administrations.

Learning from Experience

Biographies & Memoirs

Leaders & Notable People

In a rich and varied career, George P. Shultz has aided presidents, confronted national and international crises, and argued passionately that the United States has a vital stake in promoting democratic values and institutions. In speeches, articles, congressional testimony, and conversations with world leaders, he has helped shape policy and public opinion on topics ranging from technology and terrorism to drugs and climate change. The result is a body of work that has influenced the decisions of nations and leaders, as well as the lives of ordinary people. In Thinking About the Future, Shultz has collected and revisited key writings, applying his past thinking to America’s most pressing contemporary problems. Each chapter includes new commentary from the author, providing context, color, and behind-the-scenes glimpses of how decisions are made in the halls of power. In the more than half a century since Shultz entered public life, the world has changed dramatically. But he remains guided by the belief that “you can learn about the future—or at least relate to it—by studying the past and identifying principles that have continuing application to our lives and our world.”

Thinking about the Future

What are the keys to good economic policy? George P. Shultz and John B. Taylor draw from their several decades of experience at the forefront of national economic policy making to show how market fundamentals beat politically popular government interventions—be they from Democrats or Republicans—as a recipe for success. Choose Economic Freedom reconstructs debates from the 1960s and 1970s about the use of wage and price controls as tools of policy, showing how brilliant economists can hold diametrically opposed views about the wisdom of using government intervention to spur the economy. Speeches and documents from the era include a recently unearthed memo from Arthur Burns, Federal Reserve chair, in 1971, in which he argues in favor of controls. Under Burns's guidance and in the face of stubborn inflation, Nixon introduced wage and price guidelines and freezes. But over the long run, these became a drag on the economy and ultimately failed. It wasn't until the Reagan administration that these controls were reversed, resulting in a vibrant economy. The words of iconic economist Milton Friedman—whose "free to choose" ethos inspired the free-market revolution of the Reagan era—along with lessons Shultz and Taylor learned from the front lines, demonstrate that tried-and-true economic policy works.

Choose Economic Freedom: Enduring Policy Lessons from the 1970s and 1980s

TAYLOR, JOHN B.

The world is at an inflection point. Advancing technologies are creating new opportunities and challenges. Great demographic changes are occurring rapidly, with significant consequences. Governance everywhere is in disarray. A new world is emerging. These are some of the key insights to emerge from a series of interdisciplinary roundtables and global expert contributions hosted by the Hoover Institution. In these pages, George P. Shultz and James Timbie examine a range of issues shaping our present and future, region by region. Concrete proposals address migration, reversing the decline of K-12 education, updating the social safety net, maintaining economic productivity, protecting our democratic processes, improving national security, and more. Meeting these transformational challenges will require international cooperation, constructive engagement, and strong governance. The United States is well positioned to ride this wave of change-and lead other nations in doing the same.

A Hinge of History: Governance in an Emerging New World

Timbie, James

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