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Updated March 10, 2017

Internet Links for Chapter 17: Economic Policy

Chapter 17 discusses theories of economic policy and explains how the national government raises revenue and spends money. There are

Economic Theory
Keynesian Economics
Our text sketches out the principles of Keynesian economics. This page, by Princeton Economics Professor Alan S. Blinder, goes much further. Keynes is regarded as a liberal economist.
Hayekian Economics
Opposed to Keynesian thinking is that of Austrian economist, Friedrich August Hayek. Hayek's ideas have received increased attention since President Obama took office.
Keynes v. Hayek
"The ideas of John Maynard Keynes and Friedrich von Hayek have dominated the economic landscape since the end of World War II. Both of these influential economists had distinct ideas about economic freedom, ideas that were very clearly in opposition to each other." This site sketches out the difference between the two schools of thought.
Keynes v. Hayek on You Tube
Watch this entertaining 10-minute video (set to rap music) of the fight between these two economist theorists.
Bureau of the Budget, Taxation, Expenditures 
Office of Management & Budget
OMB prepares the budget that the President submits annually to Congress.
Budget of the U.S. Government
This link goes to the OMB site takes you directly to the budget for the current fiscal year. Spend some time exploring the budget interactively or download the entire PDF and search it at your leisure. You'll learn a lot.
The Tax History Project at Tax Analysts
Established in 1995, the Project provides scholars, policymakers, journalists, and the general public with information on the history of U.S. public finance.
Taxes as Percent of GDP
The Tax Policy Center lists the percentages since the 1930s.
US Taxes Compared with Other Developed Countries
This site reports tax rates over time for the 34 countries belonging to the Organization for Economic Co-operation and Development (OECD) shows that the U.S. has one of the lowest tax rates of all.
Federal Reserve Board
Board of Governors of the Federal Reserve
The central site for the central bank of the United States--commonly called "the Fed."
Federal Reserve Board Resource Site
The Fed's well-developed search site for students and other researchers. Click on "RESOURCES BY AUDIENCE" and then college.