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autumnhuls5720
24.10.2020 •
History
Do supply side economics relate to the industrialist philosophies like social Darwinism and free market capitalism? Why?
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Ответ:
Reagan´s supply-side economics embraced the ideas about the pursuit of personal wealth and the free-market, claiming that it was the wealthy who should get governmental support to be able to prosper and create more jobs to benefit the whole society.
In the end, only the already wealthy corporations were benefited while poor people paid more taxes despite seeing programs meant to support them being shut down by the Reagan Administration.
Explanation:
Social Darwinism supports the competitive pursuit of personal wealth, justifying the economic power of the wealthy.
Adam Smith´s free-market system claimed that supply and demand were meant to should rule the economic system without any governmental interference.
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