Voodoo economics


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Related to Voodoo economics: Reaganomics

Voo´doo economics


n.1.(Politics) an economic hypothesis, proposed by President Ronald Regan, that large cuts in tax rates would so stimulate the economy that the tax revenue on the increases in business and personal income would offset the anticipated tax revenue losses, so that such tax cuts would not increasing the federal budget deficit. Its believers do not consider the actual massive deficit increases subsequent to the 1982-83 tax cut as being caused by the tax cut itself, but by other governmental policies. This hypothesis was graphically illustrated by the Laffer curve.
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For now, with the Developed World embarked on their own version of ''Voodoo economics'' with interest rates deep in negative territory, this has created a benign backdrop for SSA Sovereign Paper because of the Optics of handsomely positive interest rates in a world of negative interest rates.
Part of the problem may be attributed to the 'pain of stabilisation', but it is mostly to do with the voodoo economics practised by the government and the state of uncertainty that has been fuelled by its inaction.
The lady solon said that the basis of the policy to end the quantitative restriction on rice imports and open up the country to unlimited rice importation was based on "voodoo economics" and was peddled by the economic managers of the Duterte administration.
Demonetisation which was an entirely Modi-made disaster was forced upon Patel after Rajan refused to go in for voodoo economics. Patel was forced to shoulder the catastrophe that demonetisation wrecked on the economy, especially as it had no impact on black money at all.
This voodoo economics (or rather Darnomics) of the exiled former finance minister Ishaq Dar did inexorable damage to the economy.
'A Party whose administration placed the economy on life support through its voodoo economics and fiscal recklessness cannot be in a position to debate on good governance.
'VOODOO ECONOMICS'A cynical US-based Ethiopian professor, Alemayehu Mariam, dismissed its intentions as voodoo economics and projections as hyperbolic, based on fabricated and massaged numbers.
Additionally, with voodoo economics, and the printing of money through quantitative easing, employers have realised that Government policy is a major problem.
That is clearly the 21st century's definition of "voodoo economics."
If this far-fetched projection sounds like voodoo economics all over again, that's because it is.
It's telling that Republicans are already invoking voodoo economics to justify their as-yet-unspecified tax plans, insisting that tax cuts will pay for themselves by leading to higher economic growth.
During the 1980s, the economics establishment was too busy ridiculing supply-side economics as "voodoo economics," "trickle-down economics," "tax cuts for the rich," and for allegedly claiming that tax cuts pay for themselves, to notice what I pointed out at the time: the dreaded Phillips Curve with its worsening trade-offs had disappeared.