Ronald Reagan’s “Trickle Down” Economics Theory Dies Of Covid-19

  • On Monday, writing for The New York Times, Nobel Prize-winning economist and political commentator Paul Krugman noted one of the biggest and most unsung casualties of the COVID-19 pandemic: the Ronald Reagan doctrine of government.
  • “What I mean by Reaganism goes beyond voodoo economics, the claim that tax cuts have magical power and can solve all problems. After all, nobody believes in that claim aside from a handful of charlatans and cranks, plus the entire Republican Party,” wrote Krugman. 
  • “Now, when I say that Reaganism died in 2020 I don’t mean that the usual suspects will stop making the usual arguments. Voodoo economics is too deeply embedded in the modern G.O.P. — and too useful to billionaire donors seeking tax cuts — to be banished by inconvenient facts,” wrote Krugman.

See full story here.

Categories: Business, Government, Labor, Politics

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