R3publicans/Paul Craig Roberts: Watching America’s Collapse

In the 1950s and 1960s the United States was a vibrant society. Upward mobility was strong, and the middle class expanded. During the 1970s the internal contradiction in Keynesian demand management resulted in stagflation. Reagan’s supply-side economic policy cured that. With a sound economy under him, Reagan was able to pressure the Soviet government, which was unable to solve its economic problem, to negotiate the end of the cold war.

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