"Economics has come of age in the 1960s.... The paralyzing grip of economic myth and false fears on policy has been loosened, perhaps even broken. We at last accept in fact what was accepted in law 20 years ago in the Employment Act of 1946, namely, that the federal government has an overarching responsibility for the nation's economic stability and growth. And we have at last unleashed fiscal and monetary policy for the aggressive pursuit of those objectives."
Overview: The Setting