A Study on the development of U.S. Economic Policies by evolution process approach : From Reagan to G. W. Bush Administration.

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Through hearing research in the U.S. in the first year and discussion among the members, we have established three viewpoints to analyze current U.S. economic policies, including fiscal policy, industrial policy and social policy on domestic area, and trade policy, international monetary policy and foreign aid policy on international area. The three viewpoints are as the followings : First, We grasp the characteristics of current U.S. economic policies as inter-relationship between old Keynesian economic policy and Neo-liberal economic policy. Second, we focus on pluralistic decision-making structures on both across and within the governments, based on policy process approaches. Third, we take attention to the effect of national security policy on the economic policies.According to these viewpoints, we lead to the following results :1. In analyzing the fiscal and trade policies, it is worth to take together with pluralistic approach and normative approach.2. In industrial and innovation policy, regional actors, such as state officer or universities, play more important role than federal government.3. In the area of trade and foreign aid policy, we take attention to the effect of national security concern on these economic policies.4. On social policy, "New Deal Order" has still remained as the firm social system, while neo-liberal reforms, like as G.W. Bush's "Ownership Society" agenda, have tried to do several times.5. Analyzing foreign capital inflows, which is one of the most remarkable policy issues in international monetary policy, regional difference in investment behavior, especially the one between European countries and Asian, is so critical.