The Seven Fat Years: And How to Do It Again

by Bartley and Robert L. Bartley

Book Overview

Bartley argues that the economic boom of the 1980s was not a period of greed and excess that contained the seeds of the long-term decline and social problems that many commentators say will bedevil the USA into the next century. He argues that by keeping faith with Reaganomics, further reducing taxes and encouraging the entrepreneurial spirit a sustained period of economic expansion can be achieved.

• Format: Hardcover
• Language: English
• ISBN: 002901915X
• ISBN13: 9780029019153
• Release Date: May 1992
• Publisher: Free Press
• Length: 347 Pages
• Weight: 1.65 lbs.
• Dimensions: 1.3" x 6.4" x 9.6"

Customer Reviews

The True Story on How Economics Works

Robert Bartley, former editor of the Wall Street Journal (may he rest in peace), has written one of the best accounts of the 1980s economic policies, explaining what led to the economic growth, and what can be done to re-create these policies once again.Many people who claim to oppose supply-side economics never explain how the theory works. The notion that Reagan's tax cuts were mere "trickle down" economics is buttressed by the fact that no one claims that the money will "trickle down." That is not how the economic philosophy works in theory or in practice. Instead, the theory considers high taxes to be another example in which a high cost placed on a product or service is likely to result in fewer interested buyers. Similarly, high marginal tax rates are more likely to stiffle growth since the reward for working additional hours is diminished. Those with small businesses, or those who invest, may decide that the extra work will not translate into higher returns, and thus may produce less. That is not good for the economy because this stiffles economic growth, and is a recipe for stagnation, which is exactly what happened in the 1970s. So reduce taxes to create more growth. The marginal rate fell from 70% to 28% during Reagan's tenure.The other part of Reagan's program was to have a tigheter monetary policy. By tightening the dollar, it would reduce inflation. Thus, tighten the dollar, reduce inflation, and reduce taxes, and create growth. That is exactly what happened. During Reagan's tenure, inflation went down and growth went up. THIS IS AN INDISPUTABLE FACT. The left does not like this theory because it contradicts the notion that government has an effect in creating economic growth. But no matter what the liberals want to think, the young economist who went to Eureka College -- Ronald Reagan -- outsmarted all of them. His plan worked, while Jimmy Carter, the man who thought he knew everything, was an abyssmal failure.Michael Gordon

Highly important work in understaind basic economics

The Seven Fat Years is the definitive history of Ronald Reagan's economic policy achievements. But rather than just heaps of praise upon Reagan's policy he goes and does the next step. He shows without a doubt that what truly works in creating real and lasting prosperity. He takes the theory of supply side economics, what the leftist news media slammed and never reported on in a fair and intelligent matter, and makes it highly accessible to any layperson. If you are not a convert after living though the 80's and you are still not a convert after reading this text you a hopelessly incurable socialist.I would suggest that you also read another book "Economics on Trial: Lies, Myths and Realities" By Mark Skousen. With those two books digested you will know more about real economic policy than 99.9% of all university economics professors.

One of the 25 most important conservative books

Bartley, the editorial page editor of the Wall Street Journal, expertly and succinctly refutes the revisionist history of the Reagan years as it is invariably handed down to us by the liberal media. This book tells the true story of the revitalization of the U.S. economy during the 1980's.

the truth about economics and taxes in the 80's

With the continual lies told of what happened in the 80's this book sets the record straight. Robert Bartley tells the truth and shows you what really happened in the 80's. This is a history book that should be required reading in every high school in America insted of the Re-Written history that is taught today by the liberal education estabishment. Ronald Reagan's economic policies work and this book shows it and shows us how to do it again. If you are a disbeleiver in the economic growth of the 80's caused by Ronald Reagan's policies read this book and see the truth, not the lies that have prevailed for so long.

Robert Bartley's account tells it like it was

Ronald Reagan's economic policies in the 1980s were an incredible success, and that is Bartley's in depth thesis. The book describes the Seventies and how the supply-side theory began to take hold. A thorough account of the policies and the people are described in detail. This is a must read for anyone interested in the truth about Reagan's policies. We witnessed the longest peacetime economic expansion AND disinflation in American history. Here are the chapter titles: THE PARADOX OF THE EIGHTIES 1. The Man from Mars LEAVING THE SEVENTIES 2. The Malaise Decade 3. Michael 1 4. Turning Point 5. Meanwhile, Money 6. Ronald Reagan 7. The Perils of Paul 8. The Panic of '82 9. Boom 10. Sincerest Flattery 11. What You Learned if You Were Awake INTO THE NINTETIES 12. The Dread Deficit 13. The World 14. The S & L Debacle 15. Greed and Envy 16. Victorian Finance 17. Turning Back? 18. A New Belle Epoque?