| Abstract: | Humphrey-Hawkins, enacted into law as the Full Employment and Balanced Growth Act of 1978, is the most important step the Federal government has taken for overall economic coordination since passage of the Employment Act of 1946. The centerpiece of the new law is specific goals for unemployment and inflation. All Federal programs and policies are to work toward achieving a 3 percent adult and 4 percent overall jobless rate within five years, and inflation rates of 3 percent by 1983 and 0 percent by 1988. The present article outlines the major changes made in Humphrey-Hawkins from its introduction in June 1974 to its enactment in October 1978, the contents of the Full Employment and Balanced Growth Act of 1978, and the politics surrounding its passage. |
