What We Learned from Reaganomics

Arthur Laffer, Wall Street Journal
For 16 years prior to Ronald Reagan's presidency, the U.S. economy was in a tailspin"”a result of bipartisan ignorance that resulted in tax increases, dollar devaluations, wage and price controls, minimum-wage hikes, misguided spending, pandering to unions, protectionist measures and other policy mistakes.In the late 1970s and early '80s, 10-year bond yields and inflation both were in the low double digits. The "misery index""”the sum of consumer price inflation plus the unemployment rate"”peaked at well over 20%....

Source: http://www.realclearpolitics.com/2011/02/10/what_we_learned_from_reaganomics_250245.html

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