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...media-inspired hindsight, is that the 1980s, the era of Ronald Reagan, was a period of unbridled greed, where the rich became richer, but the rest of the country suffered. However, there are quite a few scholars and economists who disagree with this evaluation. They point out that the prosperity of the 1990s actually began in the 1980s and argue that this period of economic upswing evolved more from Ronald Reagan's administration then from the administration of Bill Clinton. Supporters claim that the key features of President Reagan's economic policy – dubbed "Reaganomics" by the media, i.e. income tax-cuts, new expenditure priorities, monetary restraint and regulatory reform, are largely responsible to the economic growth of the 1990s (Weldenbam 19).
Standards of success used by Reagan's defenders
Reaganomics was the most...