What does voodoo economics mean?
Definitions for voodoo economics
voodoo eco·nom·ics
This dictionary definitions page includes all the possible meanings, example usage and translations of the word voodoo economics.
GCIDE
Voodoo economicsnoun
an economic hypothesis, proposed by President Ronald Regan, that large cuts in tax rates would so stimulate the economy that the tax revenue on the increases in business and personal income would offset the anticipated tax revenue losses, so that such tax cuts would not increasing the federal budget deficit. Its believers do not consider the actual massive deficit increases subsequent to the 1982-83 tax cut as being caused by the tax cut itself, but by other governmental policies. This hypothesis was graphically illustrated by the Laffer curve.
Wiktionary
voodoo economicsnoun
supply-side economics
Wikipedia
voodoo economics
Reaganomics (; a portmanteau of Reagan and economics attributed to Paul Harvey), or Reaganism, were the neoliberal economic policies promoted by U.S. President Ronald Reagan during the 1980s. These policies are characterized as supply-side economics, trickle-down economics, or "voodoo economics" by opponents, while Reagan and his advocates preferred to call it free-market economics. The pillars of Reagan's economic policy included increasing defense spending, balancing the federal budget and slowing the growth of government spending, reducing the federal income tax and capital gains tax, reducing government regulation, and tightening the money supply in order to reduce inflation.The results of Reaganomics are still debated. Supporters point to the end of stagflation, stronger GDP growth, and an entrepreneurial revolution in the decades that followed. Critics point to the widening income gap, what they described as an atmosphere of greed, reduced economic mobility, and the national debt tripling in eight years which ultimately reversed the post-World War II trend of a shrinking national debt as percentage of GDP.
Numerology
Chaldean Numerology
The numerical value of voodoo economics in Chaldean Numerology is: 4
Pythagorean Numerology
The numerical value of voodoo economics in Pythagorean Numerology is: 2
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"voodoo economics." Definitions.net. STANDS4 LLC, 2024. Web. 28 Apr. 2024. <https://www.definitions.net/definition/voodoo+economics>.
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