Reagonomics 1981

A mindmap on Reagonomics.. Sorry rather detailed but for me that was the only way I understood it in the end, otherwise I was just a very confused person!  Hope this is helpful, if not i would advise spending time reading through the text book (it may take a while but you'll understand it in the end)

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  • Created by: Dracupine
  • Created on: 08-05-13 09:27
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  • Reagonomics
    • AIMS
      • Decrease Taxes
        • encourage hard work & buy more
      • REeduce size & role of Gov.
        • Cut public spending & minmising/stop welfare
      • Strengthen nations defands
      • Deregulate state & federal Gov. requirements
        • Supposedly liberate businesses & allow capitalism to flourish
        • People moree prosperous (due to lower taxes) = able to buy more + pay more taxes (multiple small taxes)
          • decreasing federal deficit
    • 1. Several of Reagan's leading advisers had served in & learned from the Nixon administration
      • Ensure that 2,000 lower-level political positions went to candidates who sympathise with Reagonomics
        • No debate about or opposition to supply-side theory
        • Reagan frequently attended cabinet meetings to remind everyone who was boss (Kept in Control)
    • 2. Changes through administrative action or inaction.
      • Lightened burden of regulation on industry & business cutbacks on staff of regulatory agencies AVERAGING 29%
      • Reagan used his powers of appointment to ensure that bodies such as the Occupational safety & health administration made decisions in favour of business & against labour
      • 50% fall prosecutions for illegal disposal of hazardous waste & 38% cut number of personnnel in consumer product safety commission
    • Congressional ageement to the budget
      • Successfuly had capacity to lead congress
      • Budget plan: Tax lowered, increase defence spending $7.2 billion & cut $40 billion from propsed 1982 federal budget of $740 billion by decreasing Gov. expenditure
    • Highly successful in maintaining control over budget process. Passed close to what Reagan wanted
      • Reagan Compromised
      • Well defined priorities & clear sense of direction
      • Impressive T.V. address to congress + pressured them through media (TV, radion & public)


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