- Paperback: 387 pages
- Publisher: The Free Press; 1st Free Press Paperback Ed edition (Jun 1995)
- Language English
- ISBN-10: 002874022X
- ISBN-13: 978-0028740225
- Product Dimensions: 22.9 x 15.2 x 2.8 cm
- Amazon Bestsellers Rank: 2,927,001 in Books (See Top 100 in Books)
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While the 1980s clearly represented a decade of waste and greed during which the poor were heartlessly abandoned, many people continue to view those years as a time of growth and prosperity that ultimately benefitted all Americans. Bartley's book defines the conservative view on this still-contentious issue, maintaining that only a return to the greedy policies of the Reagan years will guarantee America's prosperity in the future.
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13 reviews
13 of 15 people found the following review helpful
The True Story on How Economics Works
17 Jun 2004
Format:Hardcover
Robert Bartley, former editor of the Wall Street Journal (may he rest in peace), has written one of the best accounts of the 1980s economic policies, explaining what led to the economic growth, and what can be done to re-create these policies once again.
Many people who claim to oppose supply-side economics never explain how the theory works. The notion that Reagan's tax cuts were mere "trickle down" economics is buttressed by the fact that no one claims that the money will "trickle down." That is not how the economic philosophy works in theory or in practice. Instead, the theory considers high taxes to be another example in which a high cost placed on a product or service is likely to result in fewer interested buyers. Similarly, high marginal tax rates are more likely to stiffle growth since the reward for working additional hours is diminished. Those with small businesses, or those who invest, may decide that the extra work will not translate into higher returns, and thus may produce less. That is not good for the economy because this stiffles economic growth, and is a recipe for stagnation, which is exactly what happened in the 1970s. So reduce taxes to create more growth. The marginal rate fell from 70% to 28% during Reagan's tenure.
The other part of Reagan's program was to have a tigheter monetary policy. By tightening the dollar, it would reduce inflation. Thus, tighten the dollar, reduce inflation, and reduce taxes, and create growth. That is exactly what happened. During Reagan's tenure, inflation went down and growth went up. THIS IS AN INDISPUTABLE FACT.
The left does not like this theory because it contradicts the notion that government has an effect in creating economic growth.
But no matter what the liberals want to think, the young economist who went to Eureka College -- Ronald Reagan -- outsmarted all of them. His plan worked, while Jimmy Carter, the man who thought he knew everything, was an abyssmal failure.
Michael Gordon
13 of 15 people found the following review helpful
the truth about economics and taxes in the 80's
10 July 1998
Format:Hardcover
With the continual lies told of what happened in the 80's this book sets the record straight. Robert Bartley tells the truth and shows you what really happened in the 80's. This is a history book that should be required reading in every high school in America insted of the Re-Written history that is taught today by the liberal education estabishment. Ronald Reagan's economic policies work and this book shows it and shows us how to do it again. If you are a disbeleiver in the economic growth of the 80's caused by Ronald Reagan's policies read this book and see the truth, not the lies that have prevailed for so long.
7 of 9 people found the following review helpful
Highly important work in understaind basic economics
3 Jan 2002
Format:Hardcover
The Seven Fat Years is the definitive history of Ronald Reagan's economic policy achievements. But rather than just heaps of praise upon Reagan's policy he goes and does the next step. He shows without a doubt that what truly works in creating real and lasting prosperity. He takes the theory of supply side economics, what the leftist news media slammed and never reported on in a fair and intelligent matter, and makes it highly accessible to any layperson. If you are not a convert after living though the 80's and you are still not a convert after reading this text you a hopelessly incurable socialist.
I would suggest that you also read another book "Economics on Trial: Lies, Myths and Realities" By Mark Skousen. With those two books digested you will know more about real economic policy than 99.9% of all university economics professors.
I would suggest that you also read another book "Economics on Trial: Lies, Myths and Realities" By Mark Skousen. With those two books digested you will know more about real economic policy than 99.9% of all university economics professors.
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