RONALD REAGAN — RHETORIC VS REALITY

Jeff Riggenbach has the numbers.

Hayek on deficits and the Reagan tax cuts

F. A. Hayek interviewed by the NY Times, Dec. 1, 1982:

“On the scale on which [tax cutting] is being tried, I’m a little apprehensive.  I’m all for reduction of government expenditures but to anticipate it by reducing the rate of taxation before you have reduced expenditure is a very risky thing to do.”

“The . . . → Read More: Hayek on deficits and the Reagan tax cuts

blogs: Stacy McCain Is Taking This “Public Intellectual” Thing

And running with it.  McCain explains why “Reaganism” without Hayek and Mises is not really Reagan.

Money quote:

if you haven’t read Hayek and Mises and the other economic thinkers who influenced Reagan, you are missing a fundamental cornerstone of Reagan’s worldview.

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Random Quote

The general fact that booms have always appeared with a great increase of investment, a large part of which proved to be erroneous [is part of the basis for asserting that expectations regarding the future can be systematically mistaken]. — F. A. Hayek

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