sexta-feira, junho 11, 2004
Reagonomics
No Cafe Hayek Don Boudreaux apresenta factos que desmentem o artigo de Paul Krugman no NYT.
Consider this statement of his in today?s New York Times: "Despite the rapid growth of 1983 and 1984, over the whole of the Reagan administration the unemployment rate averaged a very uncomfortable 7.5 percent."
The impression this statement gives is that, despite "rapid growth" in 1983 and 1984, unemployment rates were little affected - that these rates remained uncomfortably high throughout Reagan's presidency.
Krugman gets away with this claim by lumping the high average annual unemployment rates of the early, pre-growth years of Reagan's presidency (1981-82) with the rates of those years after the growth began (1983-89) - generating an average annual unemployment rate indeed of 7.5%.
(...)
Several facts are worth noting. Here are some:
1) when Reagan left the White House, the unemployment rate was a full two percentage points lower than 7.5%; (To be even more precise, the unemployment rate had fallen even further, to 5.4%, in January 1989, the month Reagan really left the White House.)
2) for every year from 1983 through 1988, the annual unemployment rate fell;
(...)
4) the significant flattening of federal income-tax rates enacted in 1986 immediately preceded significant reductions in unemployment rates.
posted by Miguel Noronha 3:43 da tarde
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