Reaganomics was a bad idea

[Alexlantis]

Sure, the richest 1% got richer, but the poorest 10% got poorer, and the rest of Americans weren't any better off than they were before. Money didn't "trickle down" and unemployment went up. To add to that, the national debt doubled. Sure, the military got a boost, but the prosperity that Reagan was promising never came.

What say you, NSG? Was Reaganomics worth it?

[Divair]

Reaganomics are horrible.

/Thread.

[The Mesozoic Era]

Reaganomics are horrible.

/Thread.

[Desperate Measures]

It's just a really, really, really slow trickle. It'll be here any day now.

[Mavorpen]

Inb4theromneyplants

[Dyakovo]

Sure, the richest 1% got richer, but the poorest 10% got poorer, and the rest of Americans weren't any better off than they were before. Money didn't "trickle down" and unemployment went up. To add to that, the national debt doubled. Sure, the military got a boost, but the prosperity that Reagan was promising never came.

What say you, NSG? Was Reaganomics worth it?

No, it most certainly wasn't.

[Divair]

May I recommend adding a poll?

[Napkiraly]

It's just a really, really, really slow trickle. It'll be here any day now.

I can already feel the first few sprinkles.

[Mad hatters in jeans]

well unless some crazy comes through and offers, well idk what then this thread is over.

[Corporate Councils]

The thinking behind it isn't as stupid as one might imagine; here's the problem though, the 1% aren't the primary spenders, consumers, or even permanent job creators. The lower and middle classes tend to buy a whole lot more stuff and do so faster (they need to pay for day-to-day expenses all the time, which really stimulates a lot of the economy) whereas the upper classes don't buy a great deal more food or other necessities, not enough at least to make up for the disproportionate amount of wealth that they hold.
On top of that, a lot of permanent jobs are created by small businesses that offer services as opposed to large ones that offer goods and rarely does one see a 1%er managing a hair salon or local restaurant.

So given all of that, it is no surprise that the "trickle down" effect dosen't work. Now, if the 1% consumed goods and services and took the same entrepreneurial risks as the top - say 30%, then we would be having a very different conversation.

[Blazedtown]

Reaganomics changed the business model of America. Before that the idea was to create jobs for Americans, now the goal is only to keep shareholders happy.

[Luziyca]

The only good thing about it is... eh... the only thing one should do that rubbish that is Reaganomics is to place it in the village stocks and leave it there until it gets repealed.

[Hungry]

Reaganomics are horrible.

/Thread.

[New Corda]

Sure, the richest 1% got richer, but the poorest 10% got poorer, and the rest of Americans weren't any better off than they were before. Money didn't "trickle down" and unemployment went up. To add to that, the national debt doubled. Sure, the military got a boost, but the prosperity that Reagan was promising never came.

What say you, NSG? Was Reaganomics worth it?

Captain Obvious strikes again!

[The Fanboyists]

Sure, the richest 1% got richer, but the poorest 10% got poorer, and the rest of Americans weren't any better off than they were before. Money didn't "trickle down" and unemployment went up. To add to that, the national debt doubled. Sure, the military got a boost, but the prosperity that Reagan was promising never came.

What say you, NSG? Was Reaganomics worth it?

It's not great, but it's no worse than Keynsian economics. Nor is is Keynsian economics any better than Reaganomics.

In general, it looks to me like most economic theories are bullshit. If someone ever comes up with an economic theory that says "shit just happens, what the hell," they will probably be the single most-accurate economist to ever live.

[Luziyca]

Sure, the richest 1% got richer, but the poorest 10% got poorer, and the rest of Americans weren't any better off than they were before. Money didn't "trickle down" and unemployment went up. To add to that, the national debt doubled. Sure, the military got a boost, but the prosperity that Reagan was promising never came.

What say you, NSG? Was Reaganomics worth it?

It's not great, but it's no worse than Keynsian economics. Nor is is Keynsian economics any better than Reaganomics.

In general, it looks to me like most economic theories are bullshit. If someone ever comes up with an economic theory that says "shit just happens, what the hell," they will probably be the single most-accurate economist to ever live.

Yes, that theory exists. It is called Religion.

[The Grand World Order]

Someone fetch me that picture of Nicholas Cage...

[Desperate Measures]

It's just a really, really, really slow trickle. It'll be here any day now.

I can already feel the first few sprinkles.

Hell yeah. Reaganbukkake.

[Kopje]

Reaganomics was a slogan, not an idea of any kind other than a marketing one. And on that count, it was a great idea, as we're still talking about it 30 years later. Coke adds life, I wish I were an Oscar Meyer wiener, and government isn't the solution to the problem, government is the problem. God bless America, and have you driven a Ford, lately?

[Mavorpen]

Someone fetch me that picture of Nicholas Cage...

This one?

Or this one?

[Simon Cowell of the RR]

Reaganomics worked perfectely. It did exactly what it was meant to do.

[Moving Forward Incorporated]

Sure, the richest 1% got richer, but the poorest 10% got poorer, and the rest of Americans weren't any better off than they were before. Money didn't "trickle down" and unemployment went up. To add to that, the national debt doubled. Sure, the military got a boost, but the prosperity that Reagan was promising never came.

What say you, NSG? Was Reaganomics worth it?

If it is the lowering of taxes on the rich (which I am assuming) then it's good and I'm all for it.

[Mavorpen]

Reaganomics worked perfectely. It did exactly what it was meant to do.

It's meant to cripple the economy?

[Corporate Councils]

It's not great, but it's no worse than Keynsian economics. Nor is is Keynsian economics any better than Reaganomics.

In general, it looks to me like most economic theories are bullshit. If someone ever comes up with an economic theory that says "shit just happens, what the hell," they will probably be the single most-accurate economist to ever live.

Well Keynsian economics isn't a bad idea either, it just missed on a few points. One of its goals is to have a stable business cycle and as part of that, it should have argued that the government has a role in limited rapid economic growth to prevent bubbles and whatnot, something that the Austrians had a better grasp of. The other problem, is that people who often implement Keynsian economic plans forget that government spending is supposed to be on long-term things, like infrastructure, which will overall help the economy, not short-term stimulus packages, but good luck selling the idea of slow, controlled growth to a voting population or corporate citizens.

That being said, you're not too far off on the "shit just happens" theory. Few good economists would argue that their theories and models are supposed to work all the time and be implemented in every case, which is what we tend to do with them. Theories and models more give us an idea of what happens given certain circumstances, and as long as people act in a rational manner, and as long as other factors don't slip in. Unfortunately, this isn't the case leading a better description of economic theories to be: 'x' will happen when 'y' happens, except when it dosen't.

[Silent Majority]

Sure, the richest 1% got richer, but the poorest 10% got poorer, and the rest of Americans weren't any better off than they were before. Money didn't "trickle down" and unemployment went up. To add to that, the national debt doubled. Sure, the military got a boost, but the prosperity that Reagan was promising never came.

What say you, NSG? Was Reaganomics worth it?

If it is the lowering of taxes on the rich (which I am assuming) then it's good and I'm all for it.

How exactly is it good? It didn't work...