"Reagan Revolution"

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What was the "Reagan Revolution" and what were its international and domestic results?

The so-called Reagan Revolution was characterized by a focus on low-tax, pro-growth market economics and a reversal of Keynesian economic policies domestically, with an emphasis on smaller government and a rejection of the social welfare state. In practice, Reagan actually increased public spending to record levels, increasing the US national debt and failing to live up to the ideological promise of smaller government and less spending - but Reagan's introduction of supply-side economic theory did help propel the USA out of the stagflation of the 1970s and set the tone for the economic booms of the 1980s, 1990s and early 2000's. Economists and political partisans will argue about the nature and effect of this economic philosophy, but what is undeniable is that no presidential administration since Reagan has attempted to return to pre-Reagan levels of personal income tax. Also notable, Reagan appointed Alan Greenspan to the Federal Reserve where he advocated pro-growth, low inflationary policies. Greenspan was appointed by each subsequent president until he stepped down almost 20 years later under George W. Bush.

The Reagan Revolution's international focus was focused on anti-communism, with a reversal of detente and an ideological offensive against global communism. The Reagan years saw a dramatic military buildup on the part of the US, introduction of nuclear missiles to Europe to counter Soviet missiles, support for anti-communist resistance/guerrila movements in various parts of the world, etc. Scholars continue to debate the overall effects of these policies as well, but ...