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Reaganomics (a portmanteau of "Reagan" and "economics") refers to both the real economic policies and the associate politicking of the Reagan era. The four pillars of Reagan's economic policy were to 1) reduce the growth of government spending, 2) reduce marginal tax rates on income from labor and capital, 3) reduce regulation, and (4) control ...
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).
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.
Reagan was first elected in 1980, when the U.S. gross domestic product fell 0.3%, according to data from the World Bank. During his first year in office (1981) the GDP grew 2.5%, but during his ...
President Reagan, shown in 1981, based many of his policies on ideas from the Heritage Foundation publication "The Mandate for Leadership." Project 2025 makes up a majority of the latest edition ...
Reagan had been grateful for her interest in him at a time when the British establishment refused to take him seriously; she agreed with him about the importance of creating wealth, cutting taxes, and building up stronger defences against Soviet Russia; and both believed in liberty and free-market freedom, and in the need to outface what Reagan ...
Ronald Reagan's economic policies, dubbed "Reaganomics" by opponents, included large tax cuts and were characterized as trickle-down economics.In this picture, he is outlining his plan for the Economic Recovery Tax Act of 1981 from the Oval Office in a televised address, July 1981.
Kyvig, David. ed. Reagan and the World (1990), scholarly essays on foreign policy; Levy, Peter B. Encyclopedia of the Reagan-Bush Years (1996), short articles; Martin, Bradford. The Other Eighties: A Secret History of America in the Age of Reagan (Hill & Wang; 2011) 242 pages; emphasis on efforts by the political left; Meacham, Jon.