Ronald Reagan actively use of supply-side policies. Keynes quipped that policy makers are all slaves of some long-dead economist. But in fact the course of the economy is governed not by what happened in the past, but by what people believe the future holds. Repaying the national debt will leave your generation impoverished. The Phillips curve shows how we can use policy to achieve low inflation at low levels of employment.
Fiscal policy is the better gas pedal, monetary policy the better brake.
If only we'd all save more, we'd be a lot better off. He let crooks into our nation's bank vaults, and they emptied the pockets of millions of savers. In the Classical Economic Model there can never be unemployment. Since by and large the U.S. is better than any other country at most economic endeavors, there little gain to be had from trade. Mexico and Purchasing Power Parity Mexico is a country of 90 million people with a GDP of 1.1 trillion pesos.