Reaganomics
E16700
Reaganomics is the conservative, supply-side economic program of U.S. President Ronald Reagan, emphasizing tax cuts, deregulation, reduced social spending, and tight monetary policy to curb inflation and stimulate growth.
All labels observed (3)
| Label | Occurrences |
|---|---|
| Reaganomics canonical | 11 |
| Reagan economic policy | 1 |
| Reaganism | 1 |
Statements (69)
| Predicate | Object |
|---|---|
| instanceOf |
conservative economic policy
ⓘ
economic policy ⓘ macroeconomic policy ⓘ supply-side economics ⓘ |
| aimedAt |
encouraging entrepreneurship
ⓘ
increasing employment ⓘ increasing private investment ⓘ reducing inflation ⓘ reducing size of government relative to economy ⓘ stimulating economic growth ⓘ |
| alsoKnownAs |
Reaganomics
ⓘ
surface form:
Reagan economic policy
|
| appliedInJurisdiction |
United States government
ⓘ
surface form:
United States federal government
|
| appliesToJurisdiction |
U.S. federal budget policy
ⓘ
U.S. federal regulatory policy ⓘ U.S. federal tax system ⓘ |
| characteristic |
emphasis on deregulation of markets
ⓘ
emphasis on tax cuts for individuals and businesses ⓘ reduction in growth of social welfare spending ⓘ support for strong independent central bank ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| criticizedFor |
benefiting high-income groups disproportionately
ⓘ
contributing to large federal budget deficits ⓘ increasing income inequality in the United States ⓘ increasing national debt ⓘ reducing funding for social programs ⓘ |
| endTime | 1989 ⓘ |
| follows | stagflation of the 1970s ⓘ |
| hasEffect |
decline in inflation rate in early 1980s United States
ⓘ
long-term shift toward market-oriented policies in U.S. politics ⓘ period of economic expansion in mid-1980s United States ⓘ rise in unemployment in early 1980s recession ⓘ |
| hasPart |
anti-inflation monetary policy
ⓘ
corporate tax reductions ⓘ cuts to domestic discretionary spending growth ⓘ deregulation ⓘ deregulation of energy sector ⓘ deregulation of telecommunications sector ⓘ deregulation of transportation sector ⓘ financial deregulation ⓘ increased defense spending ⓘ reduced social spending growth ⓘ reduction of capital gains taxes ⓘ reduction of marginal income tax rates ⓘ supply-side tax reforms ⓘ tax cuts ⓘ tight monetary policy ⓘ |
| implementedBy |
Reagan administration
ⓘ
Republican Party ⓘ
surface form:
Republican Party (United States)
Ronald Reagan ⓘ |
| implementedThrough |
Economic Recovery Tax Act of 1981
ⓘ
Omnibus Budget Reconciliation Acts of the 1980s ⓘ Tax Reform Act of 1986 ⓘ budget cuts to domestic programs ⓘ deregulatory executive orders ⓘ |
| influencedBy |
Arthur Laffer
ⓘ
Chicago School economics ⓘ
surface form:
Chicago school of economics
Laffer curve ⓘ Milton Friedman ⓘ classical liberalism ⓘ laissez-faire economics ⓘ monetarism ⓘ supply-side economics ⓘ |
| namedAfter | Ronald Reagan ⓘ |
| opposedBy |
many Democrats in the United States
ⓘ
progressive economists ⓘ |
| startTime | 1981 ⓘ |
| supportedBy |
Republican Party
ⓘ
surface form:
Republican Party (United States)
business interests ⓘ economic conservatives ⓘ |
Referenced by (13)
Full triples — surface form annotated when it differs from this entity's canonical label.
this entity surface form:
Reaganism
this entity surface form:
Reagan economic policy
subject surface form:
Economic Recovery Tax Act of 1981