Date of Original Version

Summer 1998

Type

Article

Abstract or Description

Discussions of the Reagan administration's economic policy often make the assumption, implicitly perhaps, that the administration came into office with a plan or policy. If we mean by policy what economists usually mean, that there was a specified or planned path, contingent on events—a set of rules or medium-term strategies to guide fiscal and monetary actions—there is little evidence that the administration had an economic policy. This is not simply a failure of the Reagan administration. The same criticism would apply to the fiscal and monetary actions of other administrations for the past twenty years or more.

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Published In

Journal of Post-Keynesian Economics, 10.