Not only did Reagan not coin the term, using the term is sort of like calling the estate tax the "death tax." It might have a nice ring to it based on one's angle towards the general concept, but it's not used by those who support any actual policy remotely resembling the characterization.rhendon wrote:Yea I was just thinking more about Regan and his policy. I thought he had coined the term but reading what you wrote he apparently changed what neoliberalism means.Apollyon wrote:Neoliberalism has been the ruling economic ideology since the 80s (and arguably earlier):rhendon wrote:Wasn't the 80's the start of the trickle down economics that Republicans love so much?
Trickle-down is another term for supply-side economics, which operates with the belief that reducing production costs makes goods affordable to more people.
So the graphs show what happens when we follow an actor, not a politician or economics person's policies. Sort of like the country following Trump's policies. Hooray. We're doomed.
As for following the policies of a president who is "not a politician or economics person" even a cursory look at history shows that that has little to do with anything. Eisenhower avoided politics (unless one counts his university presidency) and didn't fully commit to a campaign until the June before he was elected. LBJ was a career politician and one would be hard pressed to say he outperformed Eisenhower, especially with his actions regarding Vietnam and the unintended social consequences of the Great Society. Comparing a ranking of presidents with each's number of years in politics and/or studying economics would be an interesting look to see if there is any notable correlation (much less causation) between doing well and time being a politician (or economist) when viewed closer.
And if one is interested in what an economist might have to say on the topic, here is an article by Thomas Sowell.
And here is an actor criticizing the recent tax bill. Who is more right? I have a feeling there might suddenly be more interest in evaluating a position on more than just whether it comes from an actor vs. an "economics person." It might show that there is more to evaluating policy than referencing the general credentials of the person whose name is associated with it.