Political Capital Shifts
Reagan's ascent in the 1980s redefined the political landscape, positioning government as the problem rather than the solution. While he struggled to implement actual spending cuts, the Federal Reserve played a significant role in enforcing austerity measures. Similarly, Thatcher's rise to power was bolstered by the Falklands War, illustrating how external events can unexpectedly provide leaders with the political capital needed to navigate controversial policies.In this clip
From this podcast
Odd Lots
This Is Why It's So Hard To Cut Public Spending
Related Questions
What is Reaganomics?
How did President Reagan believe economic recovery should be achieved in the episode Episode #202 ... Why we can't think beyond capitalism. - Neoliberalism (Mark Fisher, Capitalist Realism) and the clip Neoliberalism Unveiled?
What is Reaganomics in the context of the episode Debunking Liberal Tax Hike Madness (Ep 1478) and the clip Tax Cuts and Revenue?