Beyond the Cold War: Lyndon Johnson and the New Global by Francis J. Gavin, Mark Atwood Lawrence

By Francis J. Gavin, Mark Atwood Lawrence

In writing approximately overseas affairs within the Nineteen Sixties, historians have obviously fascinated by the chilly conflict. the last decade featured perilous confrontations among the U.S. and the Soviet Union over Berlin and Cuba, the large buildup of nuclear stockpiles, the escalation of battle in Vietnam, and sour East-West competition in the course of the constructing international. because the global historic strength of globalization has quickened and deepened, despite the fact that, historians have all started to determine that the various worldwide demanding situations that we are facing today

Beyond the chilly War examines how the management of President Lyndon B. Johnson answered to this altering overseas panorama. To what quantity did U.S. leaders comprehend those alterations? How did they prioritize those concerns along the geostrategic issues that ruled their day-by-day agendas and the headlines of the day? How effectively did american citizens grapple with those long-range difficulties, with what implications for the longer term? What classes lie within the efforts of Johnson and his aides to deal with a brand new and inchoate schedule of difficulties? via reconsidering the Nineteen Sixties, this paintings indicates a brand new examine schedule predicated at the concept that the chilly conflict was once now not the single - or maybe even an important - characteristic of foreign existence within the postwar interval.

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95. 4. William McChesney Martin oral history, LBJL. 5. The phrase is taken from the chair of LBJ’s Council of Economic Advisers. : Harvard Unviersity Press), p. 59. 6. Robert P. : Yale University Press). 7. , 197. 8. New York Times, June 2, 1965. 9. Martin made repeated calls for domestic monetary prudence in the name of international stabilization. For a representative sample, see Memorandums for the President, March 15, 1966, March 22, 1966, April 8, 1966, and December 13, 1966, all in McChesney Martin papers, Box 75, LBJL.

By focusing his capital control program on the long-term outflows that most urgently threatened the balance of payments, LBJ delivered an unintentional spur to the rise of the Euromarkets, which offered an alternative source of funding for American multinational business and helped mask a deteriorating balance of payments in 1968–1969. The semblance of national autonomy that LBJ maintained may thus have depended, ironically, on the rise of transnational financial markets that have tended, over subsequent decades, to thwart the aspirations that most governments share to preserve some freedom of choice in a globalizing world.

Gov/econresdata> and White House, Economic Report of the president, 1974. vaunted commitment to an autonomous domestic policy, the United States had become dependent upon globalizing financial markets. Toward the Nixon Shocks American policymakers at the end of the 1960s recognized that global realities constrained the options for domestic economic policy. ”71 It is this nexus of relationships, the swelling complexity of the global economy, that explains the difficulties Lyndon Johnson faced. Although he probably never heard the word (likely the last US president of whom this could be said), Lyndon Johnson had to face up to the dilemmas of a new era of globalization.

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