Abstract
As the Reagan administration nears the end of its second year in office, the U.S. economy is in a frightful shambles. The official (and seriously understated) unemployment rate is over 10 percent; 30 percent of manufacturing capacity lies idle; bankruptcies are soaring; and millions of people are living on the edge of starvation while agricultural surpluses pile up and farmers are driven off the land. In one breath Reagan blames it all on the Democrats, while in the next he boasts that the country is better off than when he took office.This article can also be found at the Monthly Review website, where most recent articles are published in full.Click here to purchase a PDF version of this article at the Monthly Review website.
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