Reaganomics

Definitions

Economics

  • plural noun the policies of US President Ronald Reagan in the 1980s, which reduced taxes and social security support and increased the national budget deficit. By cutting taxes the Reagan administration hoped to increase employment, productivity and output, thus avoiding the need to increase the government deficit by borrowing.

Politics

  • noun the free-market economic approach of US president Ronald Reagan, involving cuts in taxes and social spending together with removal of controls on domestic markets
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