First let’s take a look at Thatcherism, before we examine and compare the Reaganomics policies. Thatcherism policy key goal is to promote an economic aspect of lowering inflation, creating a small state, and free markets by creating a control of the money supply, ensuring constraints on the labor movement and privatization transferring ownership of business, agency, public service, and even public property from the public sector to the private sector. Nigel Lawson was the Chancellor of the Exchequer from 1983 to 1989 he suggested that Thatcherism promotes, “Free markets, Financial discipline, firm control over public expenditure, tax cuts, nationalism, ‘Victorian values’ (of ...
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...for a stronger free market by lowering taxes; also through the means of privatization of the state industries and increasing trade unionism. Jude Wanniski a conservative commentator and political economist suggest that the, “typical policy recommendations of supply-side economists are lower marginal tax rates and less regulation.” (Wanniski, Jude. The Way the World Works: How Economies Fail- and Succeed) What Jude Wanniski is suggesting is that this policy would emphasizes heavily on the free markets, restraining government spending, privatization, deregulation, and tax cuts. This is the reason why they Thatcher government moved towards a supply-siade economics because the government felt that higher taxes will steadily reduce the economic trade between economic participants within a nation and that it discourages investment and seeing taxes as a trade barrier.
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