Reaganomics Vs Thatcherism

Programs of the New Deal were funded by the government; yet with Long’s plan the programs were funded by the redistribution of wealth. Long stated, “The raising of revenue and taxes for the support of this program to come from the reduction of swollen fortunes from the top.” Instead of using the government’s money which comes from taxing all, even those who cannot afford to be taxed so heavily, Long wanted the extremely wealthy to be limited so that their excess funds were used to help those in need. The “starvation dole” was like the New Deal in that it provided for the less fortunate by using money from the State; further, the Share Our Wealth plan differed from the starvation dole as well because it took money from the top and diffused it among the

In the mid 70’s, a new type of Conservatism was introduced, especially in Thatcher and Reagan’s governments in Britain and America. This was a very ideological strand in conservatism with a mixture between neo-liberalism and neo-conservatism, aiming to free markets while keeping society stricter and under more authority; almost Victorian like. This therefore challenges the idea that conservatives favour pragmatism over principle. The new-right adopted a stance of absolute economic liberty and free markets, a neo-liberal view on how the economy should be run. Individuals should be encouraged to be self-reliant and make rational choices in their own interests. This therefore caused the shrink of the state, and the amount of help they gave to people who were struggling; completely

Since 1935, when Welfare was set in place and made known, Americans have been profoundly impacted in many ways. Not just the recipient 's economic state but also the society around them as a whole has been greatly affected as well. The Welfare system is constructed on the fundamentals of distribution and equality along with opportunities for individuals who cannot afford the minimum level of well-being in today 's economic society. There has been much controversy surrounding Welfare based on the beliefs of some that it is an outdated and obsolete system. “During the Great Depression of the 1930s, local and state governments, as well as private charities, were overwhelmed by needy families seeking food, clothing, and shelter” (“How Welfare

Liberal individualism generally functioned as the essential model focusing on the American welfare. Davies’ book called “From Opportunity to Entitlement” monitors the shifting from opportunity liberalism to entitlement liberalism during President Johnson’s war on poverty. Davies gives careful consideration to the political and authoritative battles of the 1960’s, particularly in the course of seeing the American welfare system differently. There were several important historical events and circumstances that contributed to the transition from opportunity liberalism to entitlement liberalism. These included the White House Planning Conference, Civil Rights Movement, Race and Poverty, National Welfare Movement, and the Vietnam War.

The overarching national theme of Reaganism, explored by Kushner, is used to describe the foreboding sociopolitical reign held by Ronald Reagan from 1981 until 1989. Reagan’s optimism, post Vietnam War and a riot driven 1970s, promoted through tax, cuts, the transformation of social programs, foreign policy and supply side economics was praised by scholars alike. In contrast Kushner aligns himself with opposing critics, blaming Reaganite American for the same polices. In hindsight this made the rich richer and the poor poorer. Thomas Mann says ‘The poverty rate is no lower and by some measures is actually higher than before. There are some people in this country who have been left behind.’(Nielsen, 2008). Reagan slimmed down the welfare state

Although the United State is a powerful country, it has not fought poverty with the fervor that it has won many wars. Many different attitudes on welfare exist. Some believe that the government’s benefit system is to help impoverished individuals maintain a minimum standard of well-being. Others believe that welfare recipients are responsible for their poverty. Other popular opinions include that the government’s benefits are a privilege and not a right, and that welfare policies create a culture of dependency. President George W. Bush believed that people should work for their benefit to achieve independence. They all have truths; however this is an issue that the United States has been dealing with since the Great Depression (Reese, 2015).

The welfare policy is one mirrored by ideology and negativity, with few satisfied with its current status. The conservatives think of it as some kind of “culture of poverty,” personal choice (Furlong, 2013, p. 328) that is riddled with fraud and waste. While the liberals, site welfare as a state of unequal opportunities caused by unfair economics or less than ideal social conditions beyond their control (Furlong, 2013, p. 328). The conservative see the failures and the liberals see the need to expand on possibly successes. Both sides share the necessity of reform equivalently. However, coming from these extreme perspectives the solutions remained far apart.

Conservatism describes the disposition of people who prefer heavy state intervention in private life and little or no state invention in the economy. Laura Stoker, a professor at the University of California, Berkeley, created a graph (Figure 1) that separates people’s political standing based on their views of state intervention in private life and the economy (The Charles and Louise Travers Department of Political Science University of California, Berkeley). This description allows individuals to compare and contrast the different political views of people. However, there is more to the conservative label than just the group of people who prefer state intervention in the private life but not in the economy. Conservatism is typically

Dworkin begins by roughly defining liberalism according to the New Deal: "It combined an emphasis on less inequality and greater economic stability with more abundant political and civil liberty for the groups campaigning for these goals." Dworkin states that such a definition is inadequate and goes on to elaborate on liberalism in more depth. The liberal, in economic policies, demands that the inequalities of wealth be reduced through social programs such as "welfare and other redistribution financed by a progressive tax." Liberals also take a Keynesian policy toward the governments stabilizing intervention in the economy, such as controlling inflation and unemployment. And liberals support freedom of speech, racial equality and are

Many Americans were left jobless or without healthcare and decent housing. Reagan had the government reduce the number of housing units getting subsidies from 40,000 to 40,000, while Clinton ended the program altogether. It seems that the Reagan and Clinton administrations goals were protecting the rich while keeping the rest of us in line through poverty or misdirected anger. Despite promising a new government, Clinton did nothing to resolve these issues. Clinton and Reagan were both heavily swayed by the powerful influence of corporate wealth. Reagan’s cure for the economic crises was “trickle down economics.” By giving the rich big tax cuts, motivates them to spend more and stimulate the economy. This in turn would create more jobs for the poor. Though the past has proven other wise, that the trickle down system gives the government the excuse to give tax breaks to the rich.

Thatcherism is defined as the conviction politics, economic, social policy and political style of the British Conservative politician and Prime Minister, Margaret Thatcher. An exponent or supporter of Thatcherism is called a Thatcherite.

The constant conflict between left-wing ideologies and right-wing ideologies has created many differing opinions of who should be in control of the economic systems within a society. These differing opinions have created many new ideologies that all have the common goal of creating an ideal economic system in which each individual can benefit. It is evident that throughout these sources lies a common theme of how the economy within a society, specifically America, should be operated. The first source is stated by Ronald Reagan, the 40th president of the United Stated of America, who was the founder of Reaganomics and is a supporter of trickle-down economics and neo-conservatism. Within his quote he states how government, as a whole, has a common

Laissez-faire is the belief that the economy will fix its own problems and the government dose not need to get involved. During the great depression, President Herbert Hoover believed that laissez-faire would work to fix the economy by itself. This made him not so popular with the people. FDR, on the other hand, believed that the government had to help the economy when facing something like the great depression. FDR soon had his plan, “The New Deal,” helping people all over the country, and he was voted to serve as president for four

Following the depression of the 1930s, development of labour unions, workers’ rights, creation of a welfare state, and liberation from corporation control spelled a period of economic growth and prosperity in capitalist history (Harvey, 2007). Keynesian orthodoxy 1945 to late 1970s, consensus politically was built upon a social-democratic welfare state, steady employment unified social responsibility, a period of rehabilitation. Criminal justice systems did not incite or enfeeble ideological confrontation amongst the governmental parties (Downes and Morgan, 1997). The power of ideas associated with Friedrich Hayek and Milton Friedman emerged during the 1930s yet did not receive widespread support, the ideology and foundation of Neoliberalism

The liberal welfare state provides modest social insurance plans, and universal transfers to low income, working-class dependents. “It is a model in which implicitly or explicitly, the progress of social reform has been severely