Allan H. Meltzer

Allan H. Meltzer is the Allan H. Meltzer Professor of Political Economy and Public Policy at Carnegie Mellon University and a Visiting Scholar at the American Enterprise Institute. He is the author of more than 300 papers on monetary theory and policy, political economy and macroeconomics. His recent work includes a two volume history of the Federal Reserve.

Papers Published in World Economics:

End of the ‘American Century’

The postwar era has ended. The institutional structures that the United States sponsored are less relevant or less accepted now, and the US is unable to solve its major domestic problems. In 1944–46, the US led the world toward new international arrangements that promoted freer markets, freer trade and financial stability. That system was very successful, but despite its success, it has lost public support. Also, the US has been unable for thirty or forty years to reach internal agreement about how to reduce oil imports, provide effective health care and produce quality education. In this paper, the author argues that countries which cannot solve main domestic problems are unlikely to lead others.

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