Chapter

Government and the Economy

Price Fishback

in Government & The American Economy

Published by University of Chicago Press

Published in print May 2007 | ISBN: 9780226251271
Published online February 2013 | e-ISBN: 9780226251295 | DOI: http://dx.doi.org/10.7208/chicago/9780226251295.003.0001
Government and the Economy

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This book is about the economic history of the government of the United States, a nation known for its economic success from the beginning. The United States is a leading example of what is known as a contractual state. In market-oriented societies such as the United States, government plays several roles in the economy, from the definition and enforcement of property rights to freedom to contract and the “regular administration of justice.” Other roles of the government relate to national defense, regulation of markets, and income redistribution. This book discusses the role of government in the American economy from colonial times to the present. It describes the impact of government policies on the economy and the political economy of the policy making process. It also examines the involvement of government in labor, education, and health and looks at the federal bureaucracy.

Keywords: government; economy; United States; economic history; property rights; national defense; political economy; federal bureaucracy; income redistribution; labor

Chapter.  15050 words. 

Subjects: Economic History

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