The economy

Press, 13 December 1985, Page 16

The economy

Sir, — Mr Sadler errs. Labour’s economic policy is not imported Reaganomics, and there is a funda-

mental difference ini the policies’, Labour has implemented social fare policies to.support those people who , are unable to embrace the “sink or swim” i philosophy of the free market. It is Reagan’s folly that he has not. The welfare cut; backs of'the Reagan administration have resulted in- homeless and poyt erty-strickeh Americans, many of whom are, in the spirit of Tom Joad, roaming across America in $4OO Chevrolets trying to find some; thing tangible in the American dream. Yet,;’ most i Americans prosper under Reaganomics,, and they, view the President as a patron saint, as it is obvious to them that America is undergoing a period of economic renaisscance. Liberal United States economists despise Reagan, for his successes have demolished their ‘ cosmic Keynes theories and predictions of financial doom. Mr Sadler undoubtedly resents Rogernomics for the same reasons. • — Yours, etc., HUGO STEINCAMP. ’• December 10, 1985.