Chapter 29

Quiz for Document 29-2: David Stockman, The Triumph of Politics: Why the Reagan Revolution Failed (1986)

Reader Quiz

Chapter 29b

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Question 1

David Stockman’s tale of his struggles with Congress and his education about the government’s day-to-day operations defines supply-side economics as the panacea to the problems caused by which of the following systems?A. Anti-neo-Malthusianism, which Stockman had previously supported
B. Communism, as it was put into practice in the Soviet Union
C. Capitalism, when it functioned without any government regulation
D. Statism, as embodied by the New Deal and National Energy Plan

Question 2

To which of the following intellectuals does Stockman attribute his essential philosophy of political economy?A. Adam Smith
B. F. A. Hayek
C. John Stuart Mill
D. Thomas Malthus

Question 3

Why, in Stockman’s estimation, did Reagan’s economic plan and “supply-side” economics fail?A. Entrenched Washington political forces had not allowed it to go far enough.
B. Reagan had been a poor salesman for supply-side ideas and policies.
C. Supply-side economics was ultimately an irrational doctrine.
D. Taxes had to be raised because of unforeseen resistance from the Soviet Union.