A pioneering and systematic analysis of how the electoral and the economic cycles of democracies sometimes coincide and more often contradict each other. Although focused primarily on recent experience in the United States, rich and suggestive portions are devoted to other leading countries. Two important issues are omitted: the effects of electoral and economic cycles abroad on domestic affairs; and the recent political attraction of anti-inflationary policies. Professor Tufte has nonetheless presented a crisp and convincing study of perhaps the central issue in the political economy of major democratic societies today.
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