Analyze the extent the conservative resurgence changed the economic and social policies of the United States from 1980 to 2008?

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Analyze the extent the conservative Reagan changed the economic and social policies of the United States from 1980 to 2008.

Answer:

Ronald Wilson Reagan (February 6, 1911 - June 5, 2004) was an Hollywood actor and union leader before serving as the 33rd governor of California from 1967 to 1975. He later became the 40th president of the United States from Jan 20, 1981 to Jan 20, 1989 and was highly influential as voice of modern conservatism.

During his terms, Reagan new political and economic initiatives. His economic policies, was termed "Reaganomics", he advocated tax rate reduction to spur economic growth, economic deregulation, and reduction in government spending. Over his two terms, the economy saw a reduction of inflation from 12.5% to 4.4% and an average real GDP annual growth of 3.4% but increased military spending, which contributed to increased federal debt overall.

Reaganomics produces some multiplier effect on economic growth in such that income tax cuts give workers more incentive to work and increased the supply of labor. Not until 2008, when American economy enters recession which led many Americans to loose their job, Reaganomics was known to be one the best economic policy in the history of America.