Institutionalism and Fiscal Policy at Midcentury

This article analyzes the career and contributions of Roy Blough (1901-2000) as a case study of Wisconsin institutionalism in government policy-making at midcentury. As a faculty member at Cincinnati, Chicago and Columbia, editor of the National Tax Journal, director of the research division of the U.S. Treasury and member of the Council of Economic Advisors, Blough played a significant role in the development of fiscal policy. The article also considers Blough's contributions to tax policy and his views on Keynesian public finance. It further identifies the contributions of Wisconsin institutionalism to modern fiscal policy.