The Kennedy-Johnson Tax Cut: A Revisionist History. By Martin F. J. Prachowny. Cheltenham, UK, Northampton, MA: Edward Elgar, 2000. Pp. ix, 227. $80.00

Robert R. Keller

The Journal of Economic History, 2001, vol. 61, issue 2, 571-573

Abstract: Was the Kennedy-Johnson tax cut and the tax surcharge of 1968 a triumph of “new economics” and “fine tuning” as the architects of these policies claimed? Not exactly, according to Martin Prachowny. He concludes that the chairmen of the Council of Economic Advisers (CEA) excessively trumpeted their self-described stellar performance and this self-serving propaganda led to the demise of activist stabilization policy.

Date: 2001
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