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After World War II, many countries adopted policies of economic liberalization in order to stimulate their economies.. The period directly after the war did not see many, the most notable exception being" West Germany's reforms of 1948, which set the stage for the Wirtschaftswunder in the 1950s and helped inform many of the liberalisations that were to come.
There were two major tax cuts: The Economic Recovery Tax Act of 1981 and the Tax Reform Act of 1986. The tax cuts popularized the now infamous phrase "trickle-down economics" as it was primarily used as a moniker by opponents of the bill in order to degrade supply-side economics, the driving principle used to promote the tax cuts.
Aside from letting companies maximize their profits, these governments also had an option to free up and redistribute central government resources to local institutions. For instance, there was a local government approach to economic recovery in Mexico. The government supported local tourism, which was highly affected by pandemics.
For example, Ireland's banks lent the money to property developers, generating a massive property bubble. When the bubble burst, Ireland's government and taxpayers assumed private debts. In Greece, the government increased its commitments to public workers in the form of extremely generous wage and pension benefits, with the former doubling in ...
The recession marked a shift in policy from more traditional Keynesian economics to the adoption of neoliberal economic policies. This change was primarily achieved through tax reform and stronger monetary policy on the part of the Federal Reserve, with the strong recovery and long, stable period of growth that followed increasing the ...
Biden also gave a shout-out to Sen. Tom Carper (D-Del.), whom he addressed as “Congressman Carper” — despite it being polite to refer to American politicians by their highest-ranking post.
A statement on the government's website said the State Council had approved a plan to invest 4 trillion yuan in infrastructure and social welfare by the end of 2010. [5] [6] This stimulus, equivalent to US$586 billion, represented a pledge comparable to that subsequently announced by the United States, but which came from an economy only one third the size. [7]
The Great Reset Initiative is an economic recovery plan drawn up by the World Economic Forum (WEF) in response to the COVID-19 pandemic. [1] The project was launched in June 2020, and a video featuring the then-Prince of Wales Charles was released to mark its launch. [2]