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The Presidential Agenda Issue: The U.S. Economy After Bush

In: Neoliberalism and the Road to Inequality and Stagnation

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Abstract

This chapter showed how the Bush - Cheney years were marked by extremely poor economic performance, reflected in a business cycle expansion that was by many measures the weakest since World War II. The Bush presidency also ended with a severe financial crisis. Putting a bottom to the slump was the next president's immediate task, but the poor economic performance of the Bush years also pointed to the flaws of the neoliberal economic paradigm and need for paradigm change. The chapter then predicted that deep reform would be blocked by political resistance, including resistance from mainstream economics. That augured for an extended period of economic stagnation and political discontent, which is what has transpired.

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  • ., 2021. "The Presidential Agenda Issue: The U.S. Economy After Bush," Chapters, in: Neoliberalism and the Road to Inequality and Stagnation, chapter 5, pages 66-77, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:20890_5
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