A New Deal for the 21st Century: Less Entitlement, More Accountability

Networks Financial Institute Working Paper No. 2011-WP-05

23 Pages Posted: 7 Apr 2011  

Richard Christopher Whalen

Economic Advisory Committee of FINRA; Indiana State University - Networks Financial Institute; Association of Private Enterprise Education (APEE); National Association of Business Economists (NABE)

Date Written: March 1, 2011

Abstract

This paper explores the evolution of American economic policy since the New Deal. It argues that an accumulation of statist institutions and policies since World War II have led to the latest financial crisis in the housing sector. The paper then makes proposals with respect to fiscal policy, the Federal Reserve (Fed) System and the role of the dollar as the primary means of exchange in global commerce. The paper suggests a change in structure of the U.S. tax system from income to sales, privatization of much of the Fed and a gradual end of the "special" role for the dollar.

Keywords: New Deal, Federal Reserve, dollar, taxes, debt

Suggested Citation

Whalen, Richard Christopher, A New Deal for the 21st Century: Less Entitlement, More Accountability (March 1, 2011). Networks Financial Institute Working Paper No. 2011-WP-05. Available at SSRN: https://ssrn.com/abstract=1800724 or http://dx.doi.org/10.2139/ssrn.1800724

Richard Christopher Whalen (Contact Author)

Economic Advisory Committee of FINRA ( email )

1735 K Street NW
Washington, DC 20006
United States

HOME PAGE: http://tinyurl.com/2bne6p

Indiana State University - Networks Financial Institute ( email )

Terre Haute, IN 47809
United States

HOME PAGE: http://tinyurl.com/4ckcoxo

Association of Private Enterprise Education (APEE) ( email )

313 Fletcher Hall, Dept. 6106
615 McCallie Avenue
Chattanooga, TN 37403-2598
United States

HOME PAGE: http://https://www.apee.org/

National Association of Business Economists (NABE) ( email )

1920 L St. NW, Suite 300
Washington, DC 20036
United States

HOME PAGE: http://www.nabe.com

Paper statistics

Downloads
72
Rank
271,760
Abstract Views
597