:Between the 1930s and early 1960s, U.S. economic policy underwent an important transformation, described by economist Herbert Stein as “The Fiscal Revolution in America.” During those years, policymakers utilized Keynesian ideas to promote prosperity, and the fiscal revolution reached its peak after John F. Kennedy proposed a growth-boosting tax cut despite the unprecedented peacetime consequence of running a deficit in nonrecession conditions. This article explores how that revolution developed during the postwar period. It challenges the argument that the business community shaped and consolidated the fiscal revolution in the late 1950s and early 1960s. Instead, this article shows that liberal economists played a crucial role in fashioning Keynesianism’s postwar consolidation, so much so that the brand of that doctrine implemented in the early 1960s owed much to their efforts and was significantly different to the one championed by the business community.

中文翻译：

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美国的财政革命：重新解释

: 1930 年代至 1960 年代初，美国经济政策经历了一次重要的转变，经济学家赫伯特·斯坦 (Herbert Stein) 将其描述为“美国的财政革命”。在那些年里，政策制定者利用凯恩斯主义的思想来促进繁荣，在约翰·肯尼迪提出促进增长的减税政策后，财政革命达到了顶峰，尽管在非衰退条件下出现赤字是前所未有的和平时期后果。本文探讨了这场革命在战后时期是如何发展的。它挑战了商界在 1950 年代末和 1960 年代初塑造和巩固了财政革命的论点。相反，这篇文章表明，自由经济学家在塑造凯恩斯主义的战后巩固中发挥了关键作用，