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Milton Friedman, the monetarist economist who was an intellectual architect of free-market policies, was a primary influence on Reagan. [ 4 ] When Reagan took office, the country faced the highest rate of inflation since 1947 (average annual rate of 13.5% in 1980), and interest rates as high as 13% (the Fed funds rate in December 1980).
Reagan gives a televised address from the Oval Office, outlining his plan for tax reductions in July 1981.. Reaganomics (/ r eɪ ɡ ə ˈ n ɒ m ɪ k s / ⓘ; a portmanteau of Reagan and economics attributed to Paul Harvey), [1] or Reaganism, were the neoliberal [2] [3] [4] economic policies promoted by U.S. President Ronald Reagan during the 1980s.
Reagan implemented neoliberal economic policies based on supply-side economics, advocating a laissez-faire philosophy and free-market fiscal policy. [43] [44] Reagan's taxation policies resembled those instituted by President Calvin Coolidge and Treasury Secretary Andrew Mellon in the 1920s.
Reagan understood free trade as including the use of tariffs to protect American jobs and industry against foreign competition. He imposed a temporary 100% tariff on Japanese electronics as well as other tariffs on a variety of industrial products, which resulted in some free market advocates criticizing his policies as protectionist in ...
There's "Before Reagan," which covers much of the history of labor rights in the 20th century, and then there's "After Reagan," which begins on Aug. 5, 1981, when President Ronald Reagan broke the ...
Ronald Reagan's economic policies, dubbed "Reaganomics" by opponents, included large tax cuts and were characterized as trickle-down economics.In this picture, he is outlining his plan for the Economic Recovery Tax Act of 1981 from the Oval Office in a televised address, July 1981.
Following each television appearance to promote his policies, Reagan orchestrated what one researcher calls “a sophisticated and hard-nosed grassroots campaign in the districts of wavering ...
President Reagan, shown in 1981, based many of his policies on ideas from the Heritage Foundation publication "The Mandate for Leadership." Project 2025 makes up a majority of the latest edition ...