Download Clintonomics: How Bill Clinton Reengineered the Reagan by Jack Godwin Ph.D. PDF
By Jack Godwin Ph.D.
This ebook is a brilliant learn. "Clintonomics" research on Clinton financial coverage Philosophy is thorough and critical to our present financial state of affairs. nice learn.
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Extra resources for Clintonomics: How Bill Clinton Reengineered the Reagan Revolution
A certain amount of national debt for public infrastructure is acceptable, he said, and practically indispensable. ’’ When we consider Clinton’s relentless advocacy of downsizing government, balancing the budget, and reducing the national debt, Mill’s inﬂuence is self-evident. Clinton advocated deﬁcit reduction because long-term structural deﬁcits reduce the government’s ﬂexibility to respond to different economic problems, such as inﬂation, unemployment, or recession. Early in Clinton’s ﬁrst term, his primary goal was to support economic recovery, 44 Clintonomics and reducing the deﬁcit was a means toward that goal.
7 Ricardo elevated Smith’s invisible hand to a national scale and argued countries should specialize in industries where they have a comparative advantage. Ricardo’s work is most inﬂuential with respect to Clinton’s position against protectionism in support of free trade and his belief that all nations can beneﬁt from free trade. Perhaps most importantly, Ricardo’s groundbreaking work supports the idea of economic interdependence, which is why it remains relevant in an era when rich and poor countries alike are struggling with the powerful forces of globalization.
According to Clinton, ‘‘Power is the instrument through which you do things for people, but the power belongs to them. ’’6 Note that power is not an end in itself, but an instrument, a means toward an end. Likewise, politics is not an end in itself. It has a purpose, and that purpose is to maximize the public interest, to help people live up to their potential and live together in harmony. Although pursuing the greatest good for the greatest number seems harmless enough—perhaps even meaningless in our modern society—Ronald Reagan warned about the potential for government encroachment on individual freedom, even when our public servants had the best intentions.