The Reagan Economic Era

Paper Summary:

The writer explains the pie slice theory promoted by Regan and explains its success. It explains how the trickle down method promoted wealth for all Americans and, more importantly, it did not set out to hurt the wealthy. However, the paper asserts that the saving and productivity rates fell in the Reagan years. The paper explains the four key elements of Reaganomics: A restrictive monetary policy, a 25 percent across-the-board tax cut, balancing the budget through domestic spending restraint, and deregulation. The paper then discusses how the trickle down theory and supply side policies prompted the explosive boom of the 1990's by cutting unemployment and controlling inflation. The paper uses various statistics to prove its assertions.

From the Paper:

"The simplest explanation of the theory Regan promoted was the pie slice theory. According to the president and his advisers, everybody in America gets a slice of the nations financial pie. If the pie were made larger than everybody's share would also increase in size. It was a theory that excited the nation at the time."

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