About the Speech

From its founding in 1776 until today, United States fiscal policy has struggled with the central issues of how to divide authority among the central government and the states, and how to draw lines between credit and money. Struggles to decide these things dominated US politics during our first century as a country and especially in our relationships with Europe and other parts of the world. So much so that the great University of Chicago economist George Stigler once said that “a war can ravage half a continent and raise no new issues in economic theory.”  In his presentation, Professor Sargent will discuss key events from the history of United States fiscal policy, extracting lessons that apply to today.