JFK and the Reagan Revolution
A Secret History of American Prosperity
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Narrated by:
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Norman Dietz
About this listen
The little-known story of how JFK pioneered supply-side economics.
Who invented supply-side economics - the idea that cutting tax rates can result in more growth, more prosperity at all income levels, and even more tax revenue flowing into the IRS? Most people would credit the economic team that advised Ronald Reagan in the late 1970s and early 1980s. But in fact supply-side economics came of age two decades earlier. And the first president who embraced it was one of the biggest icons of the Democratic Party - John F. Kennedy.
As Larry Kudlow and Brian Domitrovic explain, this is an inconvenient fact for both parties. Liberals hate the idea that JFK successfully pioneered an economic principle that has become a core part of the GOP platform. And conservatives hate to admit that their hero, Reagan, grabbed one of his most successful policies not merely from a Democrat but from a Kennedy. So neither side has much incentive to talk about the tax battles inside the Kennedy administration.
In a blow-by-blow narrative of those years, the authors reveal how JFK assembled Keynesian advisors, only to reject their plans for loose money and big spending. Instead Kennedy embraced ideas advanced by the non-Keynesians on his team of rivals and drew upon his own deep reading of history to opt for tax cuts and a recommitment to the gold standard.
Here we meet a fascinating cast of Kennedy administration characters, especially Treasury Secretary Douglas Dillon, the token Republican in JFK's cabinet. Dillon's opponents, such as liberal economists Paul Samuelson, Robert Solow, and James Tobin, strove to stifle the push to bring down the high tax rates - including an astonishing 91 percent top rate on the wealthiest earners - that were damaging the economy. Once JFK became convinced of the power of tax cuts, he held his ground against the Keynesians. And as Kennedy made his case for the tax cut, the economy took off. After the assassination, Lyndon Johnson finally signed the tax-cut law, in February 1964. The subsequent economic boom delivered the greatest prosperity the nation had ever seen.
JFK and the Reagan Revolution is an eye-opening look at one of the most important yet least understood episodes in American economic history. It reveals the low-tax tradition within the Democratic Party, one that the Republicans at last made their own only with Reagan.
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Story
Thomas Piketty's work has proved that unfettered markets lead to increasing inequality. Without meaningful regulation, capitalist economies will concentrate wealth in an ever smaller number of hands. Armed with this knowledge, democratic societies face a defining challenge: fending off a new aristocracy. For years Piketty has wrestled with this problem in his monthly newspaper column, which pierces the surface of current events to reveal the economic forces underneath.
By: Thomas Piketty, and others
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All the Presidents' Bankers
- The Hidden Alliances That Drive American Power
- By: Nomi Prins
- Narrated by: Marguerite Gavin
- Length: 19 hrs and 56 mins
- Unabridged
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Nomi Prins ushers us into the intimate world of exclusive clubs, vacation spots, and Ivy League universities that binds presidents and financiers. She unravels the multi-generational blood, intermarriage, and protégé relationships that have confined national influence to a privileged cluster of people. This unprecedented history of American power illuminates how financiers have retained their authoritative position through history, swaying presidents regardless of party affiliation.
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You better like history about the elite and rich
- By Victor on 01-12-15
By: Nomi Prins
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The Populist Explosion
- How the Great Recession Transformed American and European Politics
- By: John B. Judis
- Narrated by: Coleen Marlo
- Length: 4 hrs and 46 mins
- Unabridged
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What's happening in global politics? As if overnight, many Democrats revolted and passionately backed a socialist named Bernie Sanders; the United Kingdom voted to leave the European Union; the vituperative billionaire Donald Trump became the presidential nominee of the Republican party; and a slew of rebellious parties continued to win elections in Switzerland, Norway, Italy, Austria, and Greece. John B. Judis, one of America's most respected political analysts, tells us why we need to learn about the populist movement.
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A slanted piece
- By B. on 02-21-17
By: John B. Judis
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The Conscience of a Liberal
- By: Paul Krugman
- Narrated by: Jason Culp
- Length: 9 hrs and 9 mins
- Unabridged
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America emerged from Franklin Roosevelt's New Deal with strong democratic values and broadly shared prosperity. But for the past 30 years, American politics has been dominated by a conservative movement determined to undermine the New Deal's achievements. Now, the tide may be turning, and in The Conscience of a Liberal Paul Krugman, the world's most widely read economist and one of its most influential political commentators, charts the way to reform.
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Great Book!!!
- By carl801 on 12-04-07
By: Paul Krugman
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The New Deal
- A Modern History
- By: Michael Hiltzik
- Narrated by: Traber Burns
- Length: 19 hrs and 35 mins
- Unabridged
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As America struggles with an economic debacle akin to the Great Depression, nothing could be timelier than an authoritative account of the New Deal, masterfully written by Michael Hiltzik, author of the acclaimed history of the Hoover Dam, Colossus.
In this richly peopled, vividly rendered narrative, Hiltzik describes how the urgent short-term relief measures of Franklin Roosevelt’s Hundred Days evolved into a transformative concept of the federal role in American life.
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Another Excellent New Deal History
- By R.S. on 12-19-11
By: Michael Hiltzik
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An Extraordinary Time
- The End of the Postwar Boom and the Return of the Ordinary Economy
- By: Marc Levinson
- Narrated by: James Foster
- Length: 10 hrs and 55 mins
- Unabridged
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A sweeping reappraisal of the last sixty years of world history, An Extraordinary Time describes how the postwar economic boom dissipated, undermining faith in government, destabilizing the global financial system, and forcing us to come to terms with how tumultuous our economy really is.
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Good review of crucial turning point in history
- By Philo on 11-22-16
By: Marc Levinson
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FDR's Folly
- How Roosevelt and His New Deal Prolonged the Great Depression
- By: Jim Powell
- Narrated by: William Hughes
- Length: 9 hrs and 26 mins
- Unabridged
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In the minds of historians and the American public alike, Franklin Delano Roosevelt was one of our greatest presidents, not least because he supposedly saved America from the Great Depression. But as historian Jim Powell reveals in this groundbreaking book, Roosevelt's New Deal policies actually prolonged and exacerbated the economic disaster.
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Scones for the Tea Party
- By Chiefkent on 06-11-12
By: Jim Powell
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Beyond Outrage
- What Has Gone Wrong with Our Economy and Our Democracy, and How to Fix Them
- By: Robert B. Reich
- Narrated by: Robert B. Reich
- Length: 3 hrs and 26 mins
- Unabridged
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Robert B. Reich urges Americans to get beyond mere outrage about the nation’s increasingly concentrated wealth and corrupt politics in order to mobilize and to take back our economy and democracy. Americans can’t rely only on getting good people elected, Reich argues, because nothing positive happens in Washington unless good people outside Washington are organized to help make those things happen after the election. But in order to be effectively mobilized, we need to see the big picture.
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Falls short
- By J. Klinghoffer on 11-04-13
By: Robert B. Reich
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American Default
- The Untold Story of FDR, the Supreme Court, and the Battle over Gold
- By: Sebastian Edwards
- Narrated by: Timothy Andrés Pabon
- Length: 9 hrs and 1 min
- Unabridged
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The American economy is strong in large part because nobody believes that America would ever default on its debt. Yet in 1933, Franklin D. Roosevelt did just that, when in a bid to pull the country out of depression, he depreciated the US dollar in relation to gold, effectively annulling all debt contracts. American Default is the story of this forgotten chapter in America's history.
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Superb
- By Jean on 12-08-18
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The Best Worst President
- What the Right Gets Wrong About Barack Obama
- By: Mark Hannah
- Narrated by: Kaleo Griffith
- Length: 7 hrs and 56 mins
- Unabridged
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Political analyst and Democratic campaign veteran Mark Hannah gives Barack Obama the victory lap he deserves in this compendium that takes the president's critics head-on and celebrates the president's many underappreciated triumphs.
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Thought-provoking
- By Jean on 07-11-16
By: Mark Hannah
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The Money Makers
- How Roosevelt and Keynes Ended the Depression, Defeated Fascism, and Secured a Prosperous Peace
- By: Eric Rauchway
- Narrated by: Walter Dixon
- Length: 10 hrs and 21 mins
- Unabridged
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Shortly after arriving in the White House in early 1933, Franklin Roosevelt took the United States off the gold standard. His opponents thought his decision unwise at best and ruinous at worst. But they could not have been more wrong. With The Money Makers, Eric Rauchway tells the absorbing story of how FDR and his advisors pulled the levers of monetary policy to save the domestic economy and propel the United States to unprecedented prosperity and superpower status.
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Excellent over view and easily understandable
- By L. Ford Ballard, Jr. on 01-15-19
By: Eric Rauchway
What listeners say about JFK and the Reagan Revolution
Average customer ratingsReviews - Please select the tabs below to change the source of reviews.
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- B. MIDDLETON
- 09-15-16
Turn the speed up to 1 1/2 to 2 times
Very good book, shows the similarities going back many years between what's happening now and what happened then. And the key is that the bills were bipartisan and people were able to work together in the best interest of the country, unfortunately it took assassination attempts in both cases to get things done. Hopefully we learned our lesson and things will change going forward.
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4 people found this helpful
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- Ken Larsen
- 09-20-21
Wonderful parallels
Mr. Kudlow skillfully parallels the accomplishments and aspirations of 2 of our most noteworthy Presidents. Great read for anyone objective enough to tip his/her hat to leaders from both sides of the political divide.
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