USA HISTORY

Detailed explanation-1: -President Ronald Regan was a staunch believer in supply-side economics, resulting in the name “Reaganomics.” It is also known as trickle-down economics . The intended goal of supply-side economics is to explain macroeconomic occurrences in an economy and offer policies for stable economic growth.

Detailed explanation-2: -These policies are characterized as supply-side economics, trickle-down economics, or “voodoo economics” by opponents, while Reagan and his advocates preferred to call it free-market economics.

Detailed explanation-3: -Reaganomics. In the United States, commentators frequently equate supply-side economics with Reaganomics. The administration of Republican president Ronald Reagan promoted its fiscal policies as being based on supply-side economics.

Detailed explanation-4: -Supply-side economics, a policy advocating lower taxes and less government regulation of business, gained popularity during the 1970s, a decade in which the U.S. economy suffered from the chronic economic problem of stagflation.