Mellonomics
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Mellonomics is a is a term that has been used to describe the economic policies of United States Secretary of the Treasury Andrew W. Mellon.
[edit] History
The economic policies under President Reagan are predominantly based upon those of Secretary Mellon. The main difference was that Mellon's version reduced the national debt by holding down government expenditures while Reagan's version saw the administration run up debts larger than all the past ones combined (although this was due largely to the increase in defence spending which was not an economic policy) .
[edit] References
- The American Pageant, Twelfth edition
[edit] See also
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