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His policies are credited to have helped weaken the Soviet Union and its control over Warsaw Pact countries. [3] Although scholars have pushed back against giving Reagan the lion's share of the credit. [4] Western confrontation combined with the Soviet Union's mishandling of domestic affairs lead to its weakening and ultimate dissolution.
Reagan gives a televised address from the Oval Office, outlining his plan for tax reductions in July 1981.. Reaganomics (/ r eɪ ɡ ə ˈ n ɒ m ɪ k s / ⓘ; a portmanteau of Reagan and economics attributed to Paul Harvey), [1] or Reaganism, were the neoliberal [2] [3] [4] economic policies promoted by U.S. President Ronald Reagan during the 1980s.
In addition, the U.S. has interfered in the national elections of countries, including Italy in 1948, [1] the Philippines in 1953, Japan in the 1950s and 1960s [2] [3] Lebanon in 1957, [4] and Russia in 1996. [5] According to one study, the U.S. performed at least 81 overt and covert known interventions in foreign elections from 1946 to 2000. [6]
Milton Friedman, the monetarist economist who was an intellectual architect of free-market policies, was a primary influence on Reagan. [4] When Reagan took office, the country faced the highest rate of inflation since 1947 (average annual rate of 13.5% in 1980), and interest rates as high as 13% (the Fed funds rate in December 1980).
The officially stated goals of the foreign policy of the United States of America, including all the bureaus and offices in the United States Department of State, [1] as mentioned in the Foreign Policy Agenda of the Department of State, are "to build and sustain a more democratic, secure, and prosperous world for the benefit of the American people and the international community". [2]
The Reagan Era: A History of the 1980s (Columbia University Press, 2015) Schmertz, Eric J. et al. eds. Ronald Reagan's America 2 Volumes (1997) articles by scholars and officeholders; Wilentz, Sean. The Age of Reagan: A History, 1974–2008 (2008) detailed narrative by liberal historian
Reagan understood free trade as including the use of tariffs to protect American jobs and industry against foreign competition. He imposed a temporary 100% tariff on Japanese electronics as well as other tariffs on a variety of industrial products, which resulted in some free market advocates criticizing his policies as protectionist in practice.
Though details surrounding these four pillars may differ depending on a nation's status, generally a nation's own status and economic stability takes precedence over another. During the late-19th and early-20th century this meant an emphasis on protectionism , increased role of the government, and even colonialism , as it was a means of ...