What is 'Reaganomics'
Reaganomics is a term used to refer to the economic policies of Ronald Reagan, the 40th U.S. president (1981–1989). Reaganomics called for widespread tax cuts, decreased social spending, increased military spending and the deregulation of domestic markets. These economic policies were introduced in response to a prolonged period of economic stagflation that began under President Gerald Ford in 1976. In the 1970s the United States went through a period of stagflation which resulted in high inflation and low growth. This caused the Federal Reserve Chairman of the United States, Paul Volcker to increase interest rates above 15% in 1980s which culminated in the collapse of the gold market. Donald Trump proposes similar policies as Ronald Reagan did. Interestingly enough they were both celebrities, Ronald Reagan being a movie star and Donald Trump being a TV star.
Comment below if you believe Donald Trump will be successful with his policies or any comment you wish to make.
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