Reaganomics

Reaganomics refers to the economic policies promoted by President Ronald Reagan in the 1980s. It focused on reducing taxes, especially for businesses and the wealthy, with the belief that this would encourage investment and economic growth. The policy also aimed to cut government spending on social programs and reduce regulations to increase efficiency. Proponents argued it would stimulate job creation and overall prosperity. Critics, however, pointed out that it led to increased income inequality and national debt. Overall, Reaganomics sought to boost the economy by fostering a more market-driven approach with less government interference.