Yet, there was a novel element to Reaganomics
and, looking back, it was a powerful element and new to the economic debate.
back in the 80s taught us about the questionable concept of the 'trickle down theory', where wealth supposedly runs downhill like water through the various social levels from the top, benefiting all.
The title track, made famous by folk legend Pete Seeger (who comes out of retirement to add a vocal) is as timely as ever but also boasts new lyrics bemoaning the legacy of Reaganomics
In 1990, however, 'in a fit of Reaganomics
or late Thatcherism', as Dr Bradburne describes it, 'the city decided to perform the shamanistic act of turning its exhibition-making department into a private company, believing that the magic of the markets would turn it into an efficient, market-driven organisation.
The New American Economy: The Failure of Reaganomics
and a New Way Forward
It was the "trickle down" Reaganomics
of the 1980s that claimed a rising tide lifts all boats and therefore the poor and working classes shouldn't complain as America's upper crust pulls further away from the rest of us.
While challenging Reaganomics
with strategies of public ownership and economic planning, he also used laissez-faire rationales to oppose grain subsidies in Saskatchewan.
But if in a few years the economy is back on its feet, then the speech will have helped lay the intellectual groundwork not just for the recovery, but for a new governing philosophy with the potential staying power of Reaganomics
substantially reduced the inflation rate within two years, substantially increased the rate of economic growth for the rest of the 1980s, and set the terms for economic policy for the rest of the century.
Getting semi-serious, Moore recalls that before Reaganomics
, the wealthiest Americans were taxed at 90 percent, people had four weeks vacation and their pensions were untouchable.
Twenty-five years ago, during the mass spending machination of Reaganomics
, writer/director James Cameron gave the world "The Terminator," an apocalyptic vision of modern society's obsessive quest for an industrialized and technological apex.
This publication was born in 1984 as the United States was still recovering from a terrible recession, endorsing Reaganomics
with a 49-state landslide re-election and building up a savings and loan industry that would collapse soon thereafter.