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It describes early legislative success, rising defense spending, and how Federal Reserve rate increases ended late-1970s inflation. The text covers the deep 1982 recession, unemployment and industrial shutdowns, farm hardships from oil and demand shocks, and the deficit expansion. It also traces recovery, sustained growth and job creation, the 1987 Black Monday crash, and subsequent continued expansion.",{"@graph":69,"@context":116},[70,84,99],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/the-economy-in-the-1980s-read-online-free/612357/",{"url":83,"name":65,"@type":85,"author":86,"headline":65,"publisher":89,"fileFormat":92,"inLanguage":63,"description":67,"dateModified":93,"datePublished":93,"encodingFormat":92,"isAccessibleForFree":94,"interactionStatistic":95},"DigitalDocument",{"name":87,"@type":88},"Stanley","Person",{"url":74,"name":90,"@type":91},"DocShare","Organization","application/pdf","2026-10-19",true,{"@type":96,"interactionType":97,"userInteractionCount":4},"InteractionCounter",{"@type":98},"ViewAction",{"@type":100,"mainEntity":101},"FAQPage",[102,108,112],{"name":103,"@type":104,"acceptedAnswer":105},"What is “supply-side” economics and how did it guide Reagan’s program?","Question",{"text":106,"@type":107},"It holds that increasing the supply of goods and services—enabled by measures that raise business investment—is the quickest path to growth. Reagan’s administration linked large tax cuts to higher capital investment and earnings, which it argued would also raise government revenues.","Answer",{"name":109,"@type":104,"acceptedAnswer":110},"How did the Federal Reserve help curb inflation during the early 1980s?",{"text":111,"@type":107},"Under Paul Volcker, sharply higher interest rates squeezed the inflation that had begun in the late 1970s. The recession bottomed in 1982, when rates neared 20% and the economy fell sharply.",{"name":113,"@type":104,"acceptedAnswer":114},"What happened on “Black Monday” in 1987, and how did growth continue afterward?",{"text":115,"@type":107},"On October 19, 1987, the stock market suffered its greatest one-day crash, dropping 22.6%. Although the causes included deficits, debt, and rapid computerized trading, the text states the crash was transitory and growth continued, with unemployment falling to 5.2% by June 1988.","https://schema.org",{"og:url":83,"og:type":118,"og:title":65,"og:site_name":90,"og:description":67},"article",{"robots":120,"canonical":83},"index,follow",{"doc_id":122,"site_id":62},612357,1792383306,{"code":4,"msg":5,"data":125},{"doc_id":122,"user_id":126,"nickname":87,"user_avatar":127,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":128,"file_id":129,"file_url":130,"file_type":131,"file_size":132,"view_count":4,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":14,"language":133,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":134,"faqs":135,"seo_title":136,"seo_description":67,"update_tm":123,"read_time":24},2336477405376,"https://ap-avatar.wpscdn.com/davatar_29158cc5080c5b710cf443261637dec0","Name:   Date:   Class:    \nThe Economy in the 1980s  \nPresident Reagan's domestic program was rooted in his belief that the nation would prosper if the power of the private economic sector was unleashed. The guiding theory behind it, \"supply side\" economics, held that a greater supply of goods and services, made possible by measures to increase business investment, was the swiftest road to economic growth. Accordingly, the Reagan administration argued that a large tax cut would increase capital investment and corporate earnings, so that even lower taxes on these larger earnings would increase government revenues.  \nDespite only a slim Republican majority in the Senate and a House of Representatives controlled by the Democrats, President Reagan succeeded during his first year in office in enacting the major components of his economic program, including a 25-percent tax cut for individuals to be phased in over three years. The administration also sought and won significant increases in defense spending to modernize the nation's military and counter what it felt was a continual and growing threat from the Soviet Union.  \nUnder Paul Volcker, the Federal Reserve’s draconian increases in interest rates squeezed the runaway inflation that had begun in the late 1970s. The recession hit bottom in 1982, with the prime interest rates approaching 20 percent and the economy falling sharply. That year, real gross domestic product (GDP) fell by 2 percent; the unemployment rate rose to nearly 10 percent, and almost one-third of America's industrial plants lay idle. Throughout the Midwest, major firms like General Electric and International Harvester released workers. Stubbornly high petroleum prices contributed to the decline. Economic rivals like Germany and Japan won a greater share of world trade, and U.S. consumption of goods from other countries rose sharply.  \nFarmers also suffered hard times. During the 1970s, American farmers had helped India, China, the Soviet Union, and other countries suffering from crop shortages, and had borrowed heavily to buy land and increase production. But the rise in oil prices pushed up  \ncosts, and a worldwide economic slump in 1980 reduced the demand for agricultural products. Their numbers declined, as production increasingly became concentrated in large operations. Small farmers who survived had major difficulties making ends meet.  \nThe increased military budget – combined with the tax cuts and the growth in government health spending – resulted in the federal government spending far more than it received in revenues each year. Some analysts charged that the deficits were part of a deliberate administration strategy to prevent further increases in domestic spending sought by the Democrats. However, both Democrats and Republicans in Congress refused to cut such spending. From $74,000-million in 1980, the deficit soared to $221,000-million in 1986 before falling back to $150,000-million in 1987.  \nThe deep recession of the early 1980s successfully curbed the runaway inflation that had started during the Carter years. Fuel prices, moreover, fell sharply, with at least part of the drop attributable to Reagan’s decision to abolish controls on the pricing and allocation of gasoline. Conditions began to improve in late 1983. By early 1984, the economy had rebounded. By the fall of 1984, the recovery was well along, allowing Reagan to run for re-election on the slogan, “It’s morning again in America.” He defeated his Democratic opponent, former Senator and Vice President Walter Mondale, by an overwhelming margin.  \nThe United States entered one of the longest periods of sustained economic growth since World War II. Consumer spending increased in response to the federal tax cut. The stock market climbed as it reflected the optimistic buying spree. Over a five-year period following the start of the recovery, Gross National Product grew atan annual rate of 4.2 percent. The annual inflation rate remained between ","cbCaiheDHj9FmbR4","https://ap.wps.com/l/cbCaiheDHj9FmbR4","pdf",223321,"English","# The Economy in the 1980s\n## Reagan’s supply-side program and tax cuts\n## Monetary policy, inflation, and the 1982 recession\n## Farm downturn and trade pressures\n## Deficits, spending, and the federal budget gap\n## Recovery in the mid-1980s\n## Economic growth, jobs, and inflation control\n## Tax reform, debt, and trade actions\n## Black Monday (1987) and its aftermath","[{\"question\":\"What is “supply-side” economics and how did it guide Reagan’s program?\",\"answer\":\"It holds that increasing the supply of goods and services—enabled by measures that raise business investment—is the quickest path to growth. Reagan’s administration linked large tax cuts to higher capital investment and earnings, which it argued would also raise government revenues.\"},{\"question\":\"How did the Federal Reserve help curb inflation during the early 1980s?\",\"answer\":\"Under Paul Volcker, sharply higher interest rates squeezed the inflation that had begun in the late 1970s. The recession bottomed in 1982, when rates neared 20% and the economy fell sharply.\"},{\"question\":\"What happened on “Black Monday” in 1987, and how did growth continue afterward?\",\"answer\":\"On October 19, 1987, the stock market suffered its greatest one-day crash, dropping 22.6%. Although the causes included deficits, debt, and rapid computerized trading, the text states the crash was transitory and growth continued, with unemployment falling to 5.2% by June 1988.\"}]","The Economy in the 1980s - read online free | PDF"]