the economy was indeed better in the decades before reagan.
This is not the same economy. That's politics. That is static supply side, trickle down, or worse Kenysian (govt saves???? for a rainy day...but no saving...just DEBT)
So, the fake of this world is we tell the children the lie that this is still the village life of 10,000 years. It is not. Village life means the problems of every generation are simple and more or less the same, as the 100s of years roll by.
Now with Cell Phones, there is almost no one in this world in the ancient, changeless way of Village Life. Somewhat suddenly for the first time in History, Parents are far, far behind the children, in every way. We have kids born in 2000, who parents are helpless in terms of preparing them. The world is that different now, and moving more swifty.
So, in real Economics, Nash rules. And Nash proved, it is about growth. And in growth along with Tech, things are different.
Now, Buck. I know it was your nap time.
But, under Carter, our economy tanked. You didn't know this? The Great Society and the Moral Majority, sacked the old economy.
Home loans were 22% if you get it. Inflation was double digit. The world compared us to Argentina. The milk toast, un-emplyment rate was over 10%.
So when did you fall on your head, to think the economy was better before Reagan ?
Carter killed the economy that had been suffering since the Welfare State was created under Johnson.
It took Reagan and then Clinton, to pull us out of the madness carried forward from the one term of FDR. From FDR as the craze rolled forward, one result 10% or our parking is Handicap. And they are EMPTY!
Another result is the constant jacking of health care. Not FDRs fault. It is just the unintended consequences of those that would be President.
The old economy before Reagan was bad. Reagan pull the interest rates down, the employment rate way up, much better than Obama has. He leaned so hard on the Soviet, it collapsed. (Putin does not forgive us for that)
But, Reagan allowed some deep set barbs to stay from the DEMs (as did Bush), and tripled down on the War of Drugs. And that wreaked the new economy.
Buck....don't be so wrong. I want you to look better than that.
A real, and growing economy with real and growing automation is a new economy every few years. It is a bigger pie and new divisions, per Nashian Theory.
Politics is always just politics.