Economist Jared Bernstein over at Huffington Post has written a great, well-referenced look at the successes and failures of conservative economic policy, which Bernstein calls “YOYO Economics,” with YOYO standing for “Your on your own.”
The data shows that Economic growth during the Reagan/Clinton/Bush era of deregulation is significantly smaller, more socially lopsided, and far more fragile than any other growth cycles since the end of the Great Depression.
Surely, Voodoo economists would retort that a flailing middle class, a highly volatile credit and consumer market, flagging industry investment, and economic growth being observed only in the top 1% of the population are signs of pure success.
I suppose it’s all a matter of perception.
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