What is "Reaganomics," and what were the outcomes of Reagan's economic policies for the economy and society?

Question

What is "Reaganomics," and what were the outcomes of Reagan's economic policies for the economy and society?

Answer 1

Regan lowered income tax rates  especially the very high rates  for the rich and cut corporate rates.  The idea was to increase incentives for savings and investment. At the same time the fed imposes tight money to drive down the very high inflation rate  that existed when he took office. The immediate result  was a deep recession followed by a strong recovery. However savings rates continued to fall and unemployment remained relatively high until the late 90's and the government ran large deficits during his eight years in office. The social changes that started in the 60's and ran thru the 70's continued as the baby boomers became the majority of the adult populations.

Answer 2

Essentially what most economists would call "supply side" economics. During his administration he drastically reduced marginal tax rates, which had the effect of generating much more economic growth and tax revenue. he (or more accurately Paul Volcker) also pursued a substantial reduction in the rate of growth of the money supply. The net effects were a kickoff of an economic boom that lasted at least until 2000 -- or longer depending on how short the current slowdown turns out to be.