Reaganomics – 25 years on – a failed experiment

Tax cuts, increased defence spending, poor quality or no regulation and cuts to public health, education and social security were the simplistic recipe sold by Margaret Thatcher in the UK in 1979, by Ronald Reagan in the US in 1980 and by Roger Douglas in New Zealand in 1984.

This interesting video clip sets out the problems with Reaganomics. In brief government and national debt went up, government services were reduced, unemployment rose and the manufacturing base was offshored.

http://www.youtube.com/watch?v=z5CCRI1vdwE  

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