The Reagan economy was a one-hit wonder. Yes, there was a boom in the mid-1980s, as the economy recovered from a severe recession. But while the rich got much richer, there was little sustained economic improvement for most Americans. By the late 1980s, middle-class incomes were barely higher than they had been a decade before -- and the poverty rate had actually risen. Full Story »
Posted by Kaizar Campwala - via avivao (f)
Krugman is a wild eyed socialist obsessed with rich people. He can't stand it that Reagan was and is extremely popular. He can't stand it that Reagan policies resulted in a big economic boom and the end of inflation - contrasting with the disaster of the Nixon-Carter seventies. Of course Reagan's greatest achievement was the fall of the Soviet Union, something that took place as a consequence of his policies. Having seen Krugman on television and in person I think he is a very strange person. Clearly his is the most out there columnist at the NYT.
