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Essay Details:
Essay text:
These ideas remain constant and
prevalant throughout the seven chapters. His views, though somewhat repetitive
in the text, strike the reader with astonishment, especially when considering
Phillips' Republican party affiliation.
With his thesis in mind, Phillips discusses three major factors that
escalate and at the same time submerge the state of the economy in America.
These factors include: the sudden shift in tax rates, the diminishing "global
wealth" of America, and the inability of the government under Regan to satisfy
a "happy medium" for economic growth. All of these factors support Phillips'
theme and prove his argument of an up and down cycle of economic stability...
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