How long will it take to repair the damge to America done by the Bush regime

[Imran Siddiqui]

Yes, yes... according to the anti-Reaganite forces, he did nothing right. Of course this happens to fly in the face of his landslide victories, which they subsequently explain away by aliens brainwashing people or some other such nonsense.

Of course AH would naturally flow to this anti-ism.

[Alexander's Horse]

So I assume from that you support Reaganomics Imran?

[Imran Siddiqui]

No, not really. I'm not a supply-sider. But I like the idea of lesser government and standing up to communism, even if he did not follow them closely. As is common for most leaders, his vision didn't exactly follow his practice.

[Ted Striker]

Well you gotta admit the economists were all stumped until someone actually had the brilliant idea to actually look at the supply side and do something about it.

Before then the economy was stuck.

[DuncanK]

Originally posted by Ted Striker
Well you gotta admit the economists were all stumped until someone actually had the brilliant idea to actually look at the supply side and do something about it.

Before then the economy was stuck.

What are you talking about? The history of capitalism is mostly supply-side. Are you talking about trickle down economics? The Republicans of the 1920s came up with that crap long ago. That wasn't a vision. Just an attempt to make the same old mistakes that Republicans had already been making for generations.

[DuncanK]

Imran,

Johnson permanently changed the federal government with a new type of policy, Reagan didn't. He just continued current policy.

I give you one possible exception with the deficits, but I don't think they were that significant.

[Imran Siddiqui]

The history of capitalism is mostly supply-side.

Not since Say has economics been 'mostly' supply-side. Keynesianism, for example, is very demand-side.

[DuncanK]

Originally posted by Imran Siddiqui

The history of capitalism is mostly supply-side.

Not since Say has economics been 'mostly' supply-side. Keynesianism, for example, is very demand-side.

Capitalism was supply-side before free market theory. We finally started to make some taxes progressive under Wilson. Mostly the tax system has tended to put resources in the hands of the wealthy. Rarely has there been any significant attempt to stimulate the economy with demand.

[Ted Striker]

Originally posted by DuncanK


What are you talking about? The history of capitalism is mostly supply-side. Are you talking about trickle down economics? The Republicans of the 1920s came up with that crap long ago. That wasn't a vision. Just an attempt to make the same old mistakes that Republicans had already been making for generations.

Sounds like you're more concerned with tribalism than actually looking at economics.

Bottom Line
---------------

1970s economy: sucked
1980s economy: boom

[Ned]

Originally posted by Alexander's Horse


Spoken like someone who was about 5 years old when Reagan was around. The man had all the intellect of a tea trolley. He was probably senile when still in office.

AH, you don't have a clue, do you.

I have lived through presidents since Truman. The presidents that really stood out and inspired people were Kennedy and Reagan. Both knew how to inspire people and a nation to great things.

(Odd, isn't it, that both were Irish?)

[DuncanK]

Originally posted by Imran Siddiqui

The history of capitalism is mostly supply-side.

Not since Say has economics been 'mostly' supply-side. Keynesianism, for example, is very demand-side.

Not in fiscal policy. And keynesian monetary policy has caused a lot of consumers to go into debt. That in itself tend to be supply-side in the long run-at least the way its been used by conservative Fed chairmans.

[Ted Striker]

Reagan brought pride and hope back to America.

AH knows that the word, "Reaganomics" is an excellent grenade for trolling though. Nice to see you back in form AH.

[Ted Striker]

Originally posted by DuncanK


Not in fiscal policy. And keynesian monetary policy has caused a lot of consumers to go into debt. That in itself tend to be supply-side in the long run-at least the way its been used by conservative Fed chairmans.

Well sh1t what is your answer then Mr. Every Theory Sucks?

[Imran Siddiqui]

Capitalism was supply-side before free market theory.

What? Captalism hardly existed BEFORE free market theory!

For an great amount of time, the economic policies of countries were designed to increase demand. The main idea of tax cuts (except for Reagan's) was to stimulate DEMAND. It's mostly been about demand, and the supply side has mainly been ignored with respect to tax cuts.

Supply side economics is basically an extension of Say's Law. Increase supply and the rest of the economy will take care of itself. The only tax cut that has relied on this was Reagan's.

[DuncanK]

Originally posted by Ted Striker
1970s economy: sucked
1980s economy: boom

Actually, the deficits during the 80s were just as much caused by increased spending so they weren't really supply-side deficits. Reagan just talked like that so that he could cut taxes.

I'm not saying that the economy did better in the 80s because of the deficit, although it did help growth in the early eighties. The growth was caused by cheap oil, better consumer spending and a better employment rate. In the 70s we had supply shocks and we couldn't create enough jobs for the baby boomers. And don't tell me that we should have cut taxes in the 70s either. Not even Reagan would have been stupid enough to suggest that with the inflation that we were having.