Reagan’s Economics

Ronald Reagan’s policies reflected conservative politics. According to Beschloss (2007), Reagan initiated “a peaceful end to the Cold War, and a world safer from the threat of nuclear war” (p. 34). Not only that, Gilman (2007) found out “that the Iran-Contra affair lowered American credibility.”

Reaganomics (“Reagan” and “economics,” combined. Coined by Paul Harvey) is a word that has been applied to mutually illustrate and criticize free market support economic policies. It included considerable tax cuts in 1981. Cannon (2001) mentioned “his economic policies caused huge budget deficits, quadrupling the United States national debt.” (p. 128).

As the chief executive of the United States, Reagan put into practice fresh political proposals as well as economic strategies which contributed to stimulation of economy. Reagan’s supporters, consistent with Appleby (2003), believed that the market is “pointing to a more efficient and prosperous economy” (p. 924) Feulner (2004) said that Reagan “helped create a safer, freer world. He took an America suffering from ‘malaise’ and made its citizens believe again in their destiny.”

References:

Appleby, Joyce (2003), p. 924

Beschloss, Michael (2007), p. 324

Cannon, Lou (2001) p. 128

Feulner, Edwin J. Ph.D. (June 9, 2004). The Legacy of Ronald Reagan. The Heritage Foundation.

Gilman, Larry. Iran-Contra Affair. Advameg Inc..