Reaganomics in Principle and Practice

Reaganomics in Principle and Practice - Reaganomics in...

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Reaganomics in Principle and Practice Uneven distribution of wealth notwithstanding, the performance of the economy in general—and the stock market in particular—was strong enough under Reagan's watch to convince most Americans that the president's basic economic outlook was correct. It was that free-market outlook—a set of clear and powerful ideals—that probably ought to be considered Ronald Reagan's most enduring legacy to modern American society. Reagan was not called "The Great Communicator" for nothing. He was as adept as any politician in American history at distilling complex political issues down to simple ideological principles: Economic freedom and political freedom are inseparable. Capitalism is democracy. Heavy government intervention into the market, through taxes or regulation, limits economic growth and threatens individual freedom; tax cuts and deregulation create economic growth and liberate individual initiative. These ideas—which a majority of the American people did not share for most of the twentieth century—were the core tenets of Reagan's conservative economic worldview; Reagan was so successful at selling them that they have since become accepted as conventional wisdom (if not indeed scientific truth), shaping the policies of all subsequent
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This note was uploaded on 01/04/2012 for the course AMH AMH2010 taught by Professor Pietrzak during the Fall '10 term at Broward College.

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Reaganomics in Principle and Practice - Reaganomics in...

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