"The new emphasis was on "supply side" economics, which essentially "blamed the nation's ills on 'big government' and called for lower taxes, reduced federal sp

"The new emphasis was on "supply side" economics, which essentially "blamed the nation's ills on 'big government' and called for lower taxes, reduced federal spending (military exempted), fewer government regulations, and more private sector initiatives" (Abramovitz, 1992, 101). Thus, to effect a change in the political economy, Reagan was able to win major concessions regarding social policy that continue today. By taking away the safety net, the working class was effectively neutralized: workers no longer had the freedom to strike against their employers or depend upon the social welfare system as a means of living until finding employment. Business was thus free to lower wages, benefits, and the length of contracts. The overall result was that the average income for the average American dropped even as the average number of hours at work increased (Barlett and Steele, 1996; Schor, 1992)." -- Electronic Journal of Sociology (1998) ISSN: 1198 3655 How much have a worker's real wages dropped? Minimum wage should be around $20 an hour, $10 for context of this clip: http://www.youtube.com/watch?feature=player_embedded&v=D_-MKevM97s http://www.youtube.com/watch?feature=player_embedded&v=D...