Reaganomics: Is It Finally Working?

We have heard much in recent months about the long-awaited recovery of the U.S. economy. After four years of virtual stagnation, the economic news out of Washington has been decided upbeat since this spring. The stock market began to surge late last summer, anticipating some improvement in the economy; but it wasn’t until this year that hard economic data first showed evidence of an upturn. Industrial output began to rise, housing starts increased, new unemployment claims slackened, and...