Macroeconomics Timeline: Keynesianism, Neoliberalism, and Reaganomics, Quizzes of United States History

Download Macroeconomics Timeline: Keynesianism, Neoliberalism, and Reaganomics and more Quizzes United States History in PDF only on Docsity! TERM 1 Keynesianism DEFINITION 1 Keynesian economics are the group of macroeconomic schools of thought based on the ideas of 20th-century economist John Maynard Keynes. when the economy is slow, the government should spend money because private individuals don't TERM 2 Neoliberalism DEFINITION 2 emphasize free markets, privatization, deregulation, low taxes & government spending, laissez-faire Friedrich Hayek, The Road to Serfdom(1944) - even best intentioned government efforts to direct the economy threaten individual freedom TERM 3 Jerry Falwell and the Moral Majority DEFINITION 3 American evangelical fundamentalist Southern Baptist pastor, televangelist, and a conservative political commentator. part of the "Religious Right" movement of rising conservatism helped expand conservative political base through fundamentalism TERM 4 Young Americans for Freedom DEFINITION 4 political youth movement against the New Deal and presidents soft on communism support Barry Goldwater TERM 5 Barry Goldwater DEFINITION 5 Libertarian candidate furthered the idea that "big government steals money" Did not support the Civil Rights Act because it infringed on civil liberties of private business owners TERM 6 Stagflation DEFINITION 6 stagnant economic growth along with high inflation TERM 7 Iran Hostage Crisis DEFINITION 7 Islamic Revolution in Iran (1979) overthrow American supported Shah, anti-American sentiment take hostages at the American Embassy November 4, 1979 to January 20, 1981 TERM 8 Ronald Reagan DEFINITION 8 charismatic, actor 1981 Inaugural address - government is the problem, not the solution belief in states rights TERM 9 Reaganomics DEFINITION 9 Supply-side economics/ trickle-down economics gave tax breaks to business owners and the wealthy TERM 10 PATCO strike DEFINITION 10 strike of air traffic controllers Reagan threatens to fire anyone of the 13000 who does not return to work led to the decline of unions