LYCOS RETRIEVER 
Reaganomics: Ronald Reagan
built 792 days ago
Reaganomics was the most ambitious attempt to change the course of American economic policy since Franklin Roosevelt's administration. As a presidential candidate, Ronald Reagan promised to reduce the growth of federal spending, tax rates, regulation, and inflation and to promote free trade among nations. Yet his record of achieving those goals is decidedly mixed. In this lively, informative account William A. Niskanen, a distinguished economist and former top Reagan aide, tells why.
Source:
Reaganomics denotes the economic policies of President Ronald Reagan in the 1980s. He sought to remedy the high inflation and recessions of the 1970s, which conservatives attributed to the heavy burden government imposed on private enterprise. Reagan called for sharp reductions in federal taxes, spending, and regulation as well as a monetary policy that strictly limited the growth of the money supply.
Source:
In the United States commentators frequently equate supply-side economics with Reaganomics. The fiscal policies of Ronald Reagan were largely based on supply-side economics. During Reagan's 1980 presidential campaign, the key economic concern was double digit inflation, which Reagan described as "Too many dollars chasing too few goods", but rather than the usual dose of tight money, recession and layoffs, with their consequent loss of production and wealth, he promised a gradual and painless way to fight inflation by "producing our way out of it". Switching from an earlier monetarist policy, Federal Reserve chair Paul Volcker, began a policy of tighter monetary policies such as lower money supply growth to break the inflationary psychology and squeeze inflationary expectations out of the economic system. Therefore, supply-side supporters argue that "Reaganomics" was only partially based on supply-side economics. However, under Reagan, Congress passed a plan that would slash taxes by $749 billion over five years. As a result, Jason Hymowitz cited Reagan — along with Jack Kemp — as a great advocate for supply-side economics in politics and repeatedly praised his leadership.
Source:
The economic policy pursued by president Ronald Reagan was called “Reaganomics” (sometimes written as “Reagonomics”) or “supply-side economics”. This policy meant a radical rupture with Keynesianism where consumption was stimulated by massive government spending. Keynes put the emphasis of economic policy on the demand-side (consumption). Reagan, by contrast, put the emphasis on the supply-side (production). Keynes believed that demand would create supply, but Reaganomics started from the opposite idea, namely that supply would create demand. In this way of thinking, the supply side of the economy (economic activity, production etc…) had to be stimulated in order to create wealth.
Source:
Today "trickle-down economics" is most closely identified with the economic policies of the Ronald Reagan administration, known as Reaganomics or supply-side economics. A major feature of these policies was the reduction of tax rates on capital gains, corporate income, and higher individual incomes, along with the reduction or elimination of various excise taxes. David Stockman, who as Reagan's budget director championed these cuts but then became skeptical of them, told journalist William Greider that the term "supply-side economics" was used to promote a trickle-down idea.[2]
Source:
MORE ABOUT
Ronald Reagan