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Reagan → radical ideas for US domestic policy.
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like his close ally → British PM Margaret Thatcher → believed that ppl + businesses → needed to be liberated from govt regulation
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both believed that govt regulations → stifled trade and innovation in businesses + held back economic expansion.
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they emphasized that govt should cut taxes.
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this would give ppl an incentive to work harder + start their own businesses since govt → would not be taken their hard earned wealth
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Both advocated → that govts should spend less + limit their involvement in ppls life (such as through welfare or state healthcare) → as far as possible
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believed that ppl and free market → better than govts at providing solutions to problems
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other important European leaders → supported Reagan → although not to the same degree as Thatcher.
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in West Germany → e.g. → Chancellor Helmut Kohl introduced measures to free businesses from regulations
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Liberation policies → contributed to economic boom in US and WE → even if they were not necessarily the main cause