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Essay / Research Paper Abstract
A 10 page paper that considers the positive impact of Reaganomics on the American economic climate of the 1980s. This paper determines that not only did Reagan face a difficult and already determine economic path set by years of mismanagement, but the systems that were implemented under his Administration were the most significant economic changes created in decades. Bibliography lists 7 sources.
Page Count:
10 pages (~225 words per page)
File: D0_Reag.doc
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Unformatted sample text from the term paper:
the country introduced in decades. It was regularly recognized that Reagan was elected into office with a mandate to solve the problem of inflation that was the result of
years of fiscal mismanagement.1 Reagans proposed plan for economic recovery was based in the concept of supply-side economics, and his policies and budget proposals reflected his use of
these microeconomics concepts in their development. There are a number of elements that have directly impacted the perceptions of Reagans success during his term, and any discussion about Reaganomics
must consider these elements. Reagan was faced with a difficult task from the onset, and his abilities to repair the damage from previous administrations, including that of Jimmy Carter,
were seriously hindered by the fiscal carelessness that had been demonstrated for decades. At the same time, his proposals were often challenged and diluted in Congress, and this weakened
the system of Reaganomics to the point of damaging the effectiveness of the system. Even in recognition of these weaknesses, it is possible to perceive the positive outcomes
of the efforts of Reaganomics and determine that the policies created under supply-side economics benefited the country by decreasing tax levels, increasing the capacity of the private sector, and decreasing
deficit. II. Supply-Side Economics Reagan ran for office on the platform of supply-side economics.2 The basic characteristics of supply-side economics are based in the
strength of the monetary system, of business and industry and the relationship between government and business. Supply-side economics "identifies the initial effect of government actions in terms of changes
in relative prices" in the households and businesses affected by the actions.3 There is clearly a dependence between the response of the private sector and the actions of the
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