1. Economic Policy In Recent U.S. History
... that they could not solve this problem with Keynesian ways of thought. When Reagan came into his Presidency he was faced with an economy that was in recession; the prime interest rate was 15 ½ percent, the unemployment rate was over 7 percent and inflation was running close to 14 percent a ... and to boost productivity and growth. Many demand side advocates predicted that this would only increase inflation, unemployment, and lead to a general decline in the economy. Contrary to these predictions the economy recovered at a rate even faster than the Reagan administration had predicted. T...
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