What was a key feature of Reaganomics introduced in 1981?

A key feature of Reaganomics, introduced in 1981, was the reduction of government regulations. This approach was part of a broader economic strategy aimed at promoting free-market principles. The idea behind reducing regulations was to stimulate economic growth by allowing businesses more freedom to operate without governmental constraints. This was believed to foster innovation, competition, and investment, which in turn would create jobs and enhance the overall economy.

Reaganomics emphasized supply-side economics, where tax cuts and deregulation were seen as essential tools to invigorate the economy. By reducing the regulatory burden on businesses, the administration aimed to encourage entrepreneurship and expand economic activities. This aspect played a significant role in shaping the economic landscape during the 1980s, contributing to a prolonged period of economic expansion in the U.S.