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Structural Weaknesses of Capitalism
Ignorance and ideology replaced facts and economic fairness under Reagan. Reagan appealed to the Laffer curve and argued tax cuts would bring higher revenues. He confused investment and speculation, SROs and SUVs, militarism and security and held the self-healing market was the panacea and government was the problem. The Enron model of fraud included future profits in present balance sheets. Like predator tigers, the financial speculative banks burst their cases with the help of Reagan, Clinton and Obama and made private losses into public losses.
Ignorance and ideology replaced facts and economic fairness under Reagan. Reagan appealed to the Laffer curve and argued tax cuts would bring higher revenues. He confused investment and speculation, SROs and SUVs, militarism and security and held the self-healing market was the panacea and government was the problem. The Enron model of fraud included future profits in present balance sheets. Like predator tigers, the financial speculative banks burst their cases with the help of Reagan, Clinton and Obama and made private losses into public losses.
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