Evonia Hogan Carl Schaffer Axia College at University of Phoenix HIS 135 The American Experience Since 1945

Decade of Greed
Reaganomics

Introduction
The 1980s were seen by many as one long consumption binge created by the Reagan Administration. The desire to increase conservative control introduced new policies, to be later known as Reaganomics.

Overview
Economic Impact
How Reaganomics changed the economic status for all.

Social Impact
How these changes affected Americans social attitude?

Political Impact
What changes were made as a result of the Reaganomics political attitude.

Economic Impact
1983 marked the beginning of an economic expansion that lasted through Reagans presidency. Productivity in the manufacturing sector increased at a 3.8 percent annual rate. Real median family income grew by $4,000 during the Reagan period after experiencing no growth in the pre-Reagan years. Income tax rates of the top personal tax bracket dropped from 70% to 28% in 7 years.

Social Impact
Every income group, from the richest, middle class and poorest in this country, grew its income (1981-1989). Incorporated the realization that immigrant workers are a key and vital component of the US economy. A net job increase of about 16 million also occurred (about the rate of population growth). The generosity of the American people increased as a result of their new found tax brackets status.

Political Impact
Reaganomics led the conservative tide with a program to limit the power of labor unions. Conservative appointments to the federal judiciary and the Supreme Court . Reaganomics pressed to restore traditional religious and social values. The increasing of limits on government intervention in the areas of civil rights, affirmative action, abortion rights, and the separation of church and state.

Conclusion
The present recession is a direct result of the Reaganomics policy implementation. The extravagances, insanities and disregard for the lower income citizens opened the door for Americas recession.

Resources
William A. Niskanen (1993). "Reaganomics." The Concise Encyclopedia of Economics.. Library of Economics and Liberty. Retrieved October 13, 2009 from http://www.econlib.org/library/Enc1/Reaganomics.html Wikipedia contributors (2009, October 10). Reaganomics In Wikipedia, The Free Encyclopedia.. Retrieved October 13, 2009, from http://en.wikipedia.org/w/index.php?title=Reaganomics&oldid =320669256