Voodoo Economics


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Related to Voodoo Economics: Reaganomics

Voodoo Economics

A derogatory term for supply-side economics, which is a macroeconomic theory stating that a government can best promote growth by providing incentives for persons to produce goods and services. The primary way a supply-side oriented government does this is by maintaining low tax rates so that investors and entrepreneurs may use their money for production. Maintaining low tax rates on the wealthy is one of the most important and controversial aspects of supply-side economics; the theory states that well off persons have the capital available to produce goods and services and thereby create jobs and grow the economy. Critics contend that this does not happen in reality, and that the wealthy are more likely to keep, rather than invest, their money. It is also known as Reaganomics, and acquired the name because it was crucial to the economic policies of the administration of U.S. President Ronald Reagan. See also: Keynesian economics, Monetarism, Trickle-down economics.
References in periodicals archive ?
Nowadays a football manager is obliged to be involved in the dark arts of debentures or the conniving politics of voodoo economics.
were more modest - they stuck to changing the laws of economics with trickle down voodoo economics, promised that would make the federal debt disappear; instead it quintupled the debt.
But once he inked the Contract, Schroeder zeroed in on Eggert's endorsement of voodoo economics II and proclaimed, "Twenty-two minutes of Eggert is enough.
I have argued in the pages of The Washington Post, and in my book Self-Inflicted Wounds--From LBJ's Guns & Butter to Reagan's Voodoo Economics, that American mistakes at the highest levels of government, corporate, and labor power are responsible for this unhappy result.
The MTA has long practiced voodoo economics to keep the bloated agency afloat and to protect the few at the expense of the public.
He had claimed that the IMF endorsed his voodoo economics.
After four years of fantasy figures and voodoo economics Dundee's bubblehas burst.
Sir: But didn't the President himself change his views on abortion rights, which he used to favor and now opposes, and on voodoo economics, which he used to oppose and now favors, when it became politically advantageous for him to do so?
David Cameron's squirming to avoid responsibility was pitiful and his blindly ploughing on, pretending it's all someone else's fault, will blight more lives on top of those already ruined by voodoo economics.
The best we can expect from them is more trickle-down voodoo economics.
They stink to high heaven but with voodoo economics, Papa Doc Lenihan kept them alive.
Or we can turn the clock back to the strifetorn 1980s under a Son of Thatcher whose voodoo economics would have plunged us into a Great Depression.