"For the past two decades, American politics has been largely a contest between Reaganism and Clintonism. In 1981, Ronald Reagan shattered decades of New Deal consensus by seeking to radically scale back government’s role in the economy. In 1993, Bill Clinton brought the Democrats back to power by accepting that they must live in the world Reagan had made. Located somewhere between Reagan’s anti-government conservatism and the pro-government liberalism that preceded it, Clinton articulated an ideological “third way”: Inclined toward market solutions, not government bureaucracy, focused on economic growth, not economic redistribution, and dedicated to equality of opportunity, not equality of outcome. By the end of Clinton’s presidency, government spending as a percentage of Gross Domestic Product was lower than it had been when Reagan left office." Fascinating article.
Posted on: Mon, 16 Sep 2013 09:28:07 +0000
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