Titlebook: America‘s Failing Economy and the Rise of Ronald Reagan; Eric R. Crouse Book 2018 The Editor(s) (if applicable) and The Author(s) 2018 Key

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On the Brink of Economic Revolution,nesian economic theory had led to one failure after another. Its content underscores the importance of Ronald Reagan giving political expression to a modern version of classical economics at a time when stagflation was weighing down the economy.

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Book 2018rature, the memoirs of economists and politicians, and the popular press, Eric Crouse examines how economic decline in the 1970s precipitated a political revolution. Keynesian thought flourished through the presidencies of Lyndon B. Johnson, Richard Nixon, and Gerald Ford, until stagflation devastat

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The Presidential Campaign of 1980,major victory for conservatism and a tough defeat for the Democratic Party and Keynesianism. Carter’s economic failures were a blow to Democrats who expected the experts to revive Keynesianism and to propel America toward better economic times.

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https://doi.org/10.1007/978-3-658-25056-0major victory for conservatism and a tough defeat for the Democratic Party and Keynesianism. Carter’s economic failures were a blow to Democrats who expected the experts to revive Keynesianism and to propel America toward better economic times.

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Book 2018blic opinion and colorful debate between free-market and Keynesian economists, this book illuminates a neglected era of American economic history and shows how Ronald Reagan harnessed a vision of small government and personal freedom that transformed the American political landscape.

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Introduction,e chapter presents the key economic themes leading to Ronald Reagan’s 1980 victory over President Jimmy Carter. Economists Friedrich Hayek, Milton Friedman, and Arthur Laffer were instrumental in the economic revolution that unfolded.

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,The Keynesian Revolution, 1936–1965, late 1930s to the mid-1960s. Although the scholarship of Milton Friedman and Robert Mundell dealt a blow to Keynesian theory in academic circles, politicians maintained a Keynesian mindset as they addressed economic conditions. It was a time of optimism and most American leaders favored the rise of

Hypomania

,Johnson’s Great Society to Nixon’s Gamble,wage and price controls end in failure, but many business leaders and consumers approved of his actions. The chapter contains brief biographies of Johnson, Nixon, and others and clarifies that there was no slowing of the momentum of government’s role in managing the economy.

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,Ford’s Economy,ressive politicians, especially after the midterm election in 1974 when the Democratic Party scored impressive victories. At this stage, few Republican politicians were ready to embrace the new supply-side ideas presented in the .. The chapter goes on to explain why economists and others who challen

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The Presidential Campaign of 1976,Reagan. It explains Jimmy Carter’s rise to defeat better-known Democrats for the nomination and his victory over Ford. Although voters gave Carter no rousing endorsement, the Democratic Party was set to fix the economy for the American people who expected the government to have solutions to ensure h