Reagan was faced with many tough choices to achieve these goals with the policies he intended to use. Two major events defined his neoliberal stance clearly. One of those was the firing of air traffic controllers after a strike where Reagan laid of all of the striking workers, and with that undermined the importance of unions, which were interfering with and harming the market by imposing regulations.31 The second event were large tax cuts which were voted through congress, the Tax Reform Act of 1986 and the Economic Recovery Tax Act of 1981.
Margaret Thatcher implemented similarly many neoliberal, supply side policies in the UK in the 1980s. Her and Ronald Reagan lead the western democracy and capitalism into a new era of neoliberal economic
Margaret Thatcher implemented similarly many neoliberal, supply side policies in the UK in the 1980s. Her and Ronald Reagan lead the western democracy and capitalism into a new era of neoliberal economic