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Distinguished Lecture on Economics in Government: Setting National Priorities: 1992

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  • Edward M. Gramlich

Abstract

More than two decades ago the Brookings Institution first published a book with the title of this lecture. The idea behind the book was straightforward—rather than being led by events, or falling into the trap of incremental budgeting, budgetary planners should try to set priorities. They should figure out where the country and its government budget should be some years hence, and use this priority-setting exercise as a road map on how to get there. In this lecture, I revisit the topic of setting national priorities. The ultimate message is that both the peace dividend and the recession should be viewed as highly visible diversions from what should be the main economic priorities this year. This year, as in other years, economic policy should go beyond advocating simple shifts of resources and delve into deeper questions of structural reforms.

Suggested Citation

  • Edward M. Gramlich, 1992. "Distinguished Lecture on Economics in Government: Setting National Priorities: 1992," Journal of Economic Perspectives, American Economic Association, vol. 6(2), pages 3-12, Spring.
    • Handle: RePEc:aea:jecper:v:6:y:1992:i:2:p:3-12
    Note: DOI: 10.1257/jep.6.2.3
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    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.6.2.3
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    References listed on IDEAS

    as
    1. Gramlich, Edward M., 1986. "Evaluation of education projects: the case of the perry preschool program," Economics of Education Review, Elsevier, vol. 5(1), pages 17-24, February.
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    More about this item

    JEL classification:

    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General

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