Jeff Madrick, (Roosevelt Institute Senior Fellow, Director of the Rediscovering Government initiative and author of Age of Greed), has typed a scathing indictment of those glossy false icons on the right, while at the same time warning against blind hero worship and succumbing to demagoguery on the left. We know that the philosophies of historical figures like Ronald Reagan and Ayn Rand turned out to be toxic, even to those in the lower classes who still idolize them, but Madrick argues that their memories have been obfuscated by myth.
via The Next New Deal:
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The right then goes on to mythologize and entirely distort the Reagan years. Under Reagan in the 1980s, wages stopped growing, productivity grew at historically slow rates, investment was soft, and the deficit never came down to the levels promised. That deficit was an albatross around the neck of George H.W.