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Rise of Reaganomics: The 1980s Economic Policies

Explore the era of Reaganomics in the 1980s, marked by conservative rise, economic policies, and political events. Learn about Reagan's presidency, the PATCO controversy, the 1980 and 1984 elections, and the impact on domestic and global affairs.

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Rise of Reaganomics: The 1980s Economic Policies

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  1. The 1980’s Domestic and Economic Policies

  2. People are fed up with the current system • There is a rise in conservatism • People angry about issues • Ongoing Iranian Hostage Crisis • 1980 Olympics Boycott • Reinstatement of the Draft • “Stagflation” – high unemployment and inflation Carter Era Ends

  3. Former actor that many knew • Lots of success as California State Governor • Believed in small government and States Rights • Provided a strong sense of Patriotism Rise of Ronald Reagan

  4. Reagan vs. Carter • George H. W. Bush (Reagan’s VP) • Walter Mondale (Carter’s VP) • Reagan wins by landslide • 50.7% to 41% in the popular vote • 489 to 49 in the electoral vote 1980 Election

  5. Reagan’s economic policy • Advocated for private industry • Developed by economist Art Laffer • Major Cut taxes in 1981 • Trickle down economics • Created a large deficit • Also the “Tight Money Policy” • Developed by Paul Volker • Federal Bank Chief • Attacked inflation • Focused mostly on military spending • $1.5 trillion • Arms race with USSR • No European aid Reaganomics (Voodoo)

  6. Air traffic control workers went on strike for higher wages and better working conditions • Reagan fired all those participating in the strike (over 12,000 workers) • They were replaced soon after • Solidarity Day March on September 19, 1981 at the National Mall • Jobs were reacquired but Unions were fined millions PATCO Controversy

  7. Ronald Reagan (R) vs. Walter Mondale (D) • Reagan Reinforcements • OPEC drops oil prices • Assassination attempts • Sympathy vote • Death of USSR leaders • Soviets Weaken • Mondale • Thin victory over Jesse Jackson • “Hymietown” remark • Rainbow Coalition • Racial equality and opportunity • VP Nominee Geraldine Ferraro • 1st woman VP candidate • Women didn’t like Reagan • 49 states to 1 • Largest landslide ever 1984 Election

  8. George H.W. Bush vs. Michael Dukakis • Bush • VP under Reagan • Reagan’s “successor” • Fiscal conservative • Dukakis • Mass governor • Won democratic nom in tight race • Results • 40 states to 10 (Bush) • 426 to 111 electoral votes 1988 Election

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