Unintended Consequences of Power: Economic Inequality Arises from Opportunity

The Reagan presidency had significant, often unforeseen consequences, particularly regarding economic policies. Reagan aimed to enhance economic growth through tax cuts, yet these policies disproportionately benefited upper-income taxpayers, contributing to widening income inequality starting in the early 1980s. While deindustrialization and the shift to an information economy also played roles, Reagan's anti-union stance, relaxed antitrust enforcement, and deregulatory agenda accelerated these trends. The financial industry deregulation led to major issues, necessitating costly bailouts, highlighting the long-term concerns of prioritizing opportunity over equity.