This paper has focused on the extent to which the traditional tools of macroeconomic management in the United States, monetary and fiscal policy, have contributed to a political business cycle. Regardless of whether politicians can successfully influence real economic variables to their own...

Economists' continuing criticisms of protectionism make a valuable contribution to the general interest element of the forces which operate to keep propensities to protect somewhat in check. McKenzie rightly warns, however, that proposals by economists for giving protection in more efficient...