What did Reaganomics do?
1 Answer
Mar 11, 2017
They promoted supply side economics.
Explanation:
Reagan's motto was "government is not the solution, government is the problem" Reagan introduced NeoLiberalism(different than the meaning of liberal in American English) which was inspired by such thinkers as Friedrich Hayek and Milton Friedman.
Arthur Laffer was Reagan's economic advisor and he convinced the latter to approve of tax cuts. He famously said "Too much tax kills tax".
Reaganomics is different from keynesianism and is based on a reduction of state intervention(except in the defense sector)
