- Reaganomics, implemented by U.S. President Ronald Reagan in the 1980s, focused on supply-side economics. Key aspects included tax cuts, reduced government spending, deregulation, and control of the money supply. It aimed to address stagflation from the 1970s.
- Thatcherism, a British conservative ideology associated with Prime Minister Margaret Thatcher, emphasized free markets, privatization, reduced government spending, monetarism, and constraints on labor movements. It also stressed British nationalism. Thatcherism was a response to economic and political issues in 1970s Britain.
- Similarities between the two include a focus on free markets, reduced government intervention, and neoliberal policies. Both were influenced by thinkers like Friedrich Hayek and Milton Friedman.
- Differences include Reaganomics' focus on supply-side tax cuts and deregulation, while Thatcherism prioritized monetarism and controlling the money supply. Thatcherism also emphasized British nationalism, while Reagan's policies were U.S.-centric.
- Both were controversial. Supporters credit them with economic growth, while critics point to increased inequality and social costs.
What is BarberLM?
NotebookLMs from interesting sources