Ronald Reagan
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Ronald Reagan was 26 years old when he arrived in Hollywood in 1937. His Midwestern identity was shaped in a world of family ties, homespun morality, and patriotism. However, his early years were not totally idyllic. His father's alcoholism was a continual source of family shame and anxiety. Reagan attended Eureka College, where he played football and joined the student dramatic society. After college, his first success was as a radio sports announcer in Iowa. His genial personality, his belief in his own worth, and his refreshing optimism were traits helped make this initial success and were those that formed the basis of the persona that would soon begin appearing on motion picture screens throughout the country. Reagan was given enough substantial film roles to establish his presence and gain recognition. His marriage to actress Jane Wyman was the kind of glamorous Hollywood romance that attracted the attention of the movie-going public, but he never evolved into a solid leading man that drew box-office appeal. Most of the time he was cast as the second male lead, or "the best friend." Even his most celebrated role, the ill-fatted Gipper, was part of a larger story: the biography of Rockne, the renowned Notre Dame coach, who was played by Pat O'Brien. However, it was Reagan's film persona of the best friend that became the secret of his political success. He did not appeal to the voters as a lofty star beyond their reach, but as an old friend--warm and
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n Revolution"--which was manifested in the attitudes of policymakers toward the impact of government on the economy.
In the 1940s and 1950s, Keynesian economic supporters debunked the theories of classical economist Adam Smith. They saw macroeconomic policy and government regulation as enhancing economic performance. For them, an active, interventionist government was essential to economic stability and full employment.
However, by the time of Reagan's election, the Keynesian policy of maintaining high demand while neglecting the supply side of the economy had resulted in stagflation and trade-offs between employment and inflation. The Keynesians believed that more government intervention was the answer to this problem--which would include price controls on salaries, wages, and goods. Supply-side economists, from the Reagan camp, argued that Keynesian policy had increased demand excessively while strangling incentives to supply, causing prices to rise relative to real output. The problem was not the economy itself but in the economic policies that had been in use. The remedy was to improve the incentives to produce. This would release the economy from stagflation and permit employment to rise while inflation fell.
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Approximate Word count = 1912
Approximate Pages = 8 (250 words per page)
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