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Is there a way out?

In: Hidden Collective Factors in Speculative Trading

Author

Listed:
  • Bertrand M. Roehner

    (University of Paris 6, LPTHE)

Abstract

It was said that Reaganomics was a Trojan horse for the rich. Under the cover of a new tax policy, tax rates on top brackets were drastically reduced from 70% to 35%. In a book published in 1986, David Stockman, Ronald Reagan’s budget director, writes that the main purpose of the tax reform was to bring down the tax rate on upper income brackets and that to make the reform palatable as a political matter it had to be presented as a new bold economic approach called supply-side economics.1 In the same line of thought as suggested in previous chapters the main themes of neoliberalism (which is the global version of Thatcherism and Reaganomics) included many demands which have been on the corporate agenda for decades. If we accept this assumption it must be possible to find other historical episodes during which neoliberal policies were either dropped or re-introduced after having been abandoned for a while. It is the purpose of this chapter to present and briefly discuss such episodes. We will describe five episodes.

Suggested Citation

  • Bertrand M. Roehner, 2010. "Is there a way out?," Springer Books, in: Hidden Collective Factors in Speculative Trading, chapter 0, pages 261-294, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-03048-2_12
    DOI: 10.1007/978-3-642-03048-2_12
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