For the last two weeks, we have discussed the broad prosperity throughout society produced by Reaganomics and the resulting 25 year economic boom that started in 1982. We have shown how that has been obscured by changing demographics, cultural factors, work patterns, and some basic, fundamental misunderstandings regarding the true statistics themselves. But today we are going to discuss the most important intellectual blunder of all regarding analysis of economic inequalities during the Reaganomics boom.
Again the best work on these issues is the brilliant 2006 book by Alan Reynolds, Income and Wealth. I reprise and add to this analysis in my own recent book, America’s Ticking Bankruptcy Bomb.
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