In the 1980 election, Black voters largely supported Carter, while a majority of white voters favored Reagan, reflecting deep demographic divides. Reagan's presidency was marked by worsening economic conditions, exacerbated by high interest rates implemented to combat inflation, resulting in a severe recession and significant unemployment. Despite the reduction in inflation, the economic policies led to substantial tax cuts and nearly doubled the national debt during his administration.
S7 E7: Gilded Age 2.0
After 40 years of neoliberalism, most Americans of every political stripe agree that the economy is “rigged” in favor of corporations and the wealthy. But we may not know the half of it.
By John Biewen, with co-host Ellen McGirt. Interviews with Nancy MacLean, Edward Balleisen, Brad DeLong, Marjorie Kelly, and Oren Cass. Story editor: Loretta Williams. Music by Michelle Osis, Lilli Haydn, Chris Westlake, Alex Symcox, and Goodnight, Lucas. Music consulting by Joe Augustine of Narrative Music.
"Capitalism” is a production of the Kenan Institute for Ethics at Duke University, in partnership with Imperative 21.