Ted Cruz rocked in the presidential race during the CNBC debate. His biggest breakthrough, even more important than his crowd-pleasing holding the media to account, was his credible prescription to get job creation, and equitable prosperity, roaring the way they roared in the Reagan days.
Cruz thereby seized, like nobody else yet has, the Reagan jobs-creation and income mobility mantle.
Reaganomics had two main legs. Both were widely ridiculed at the time. Both were vindicated by history.
The more famous of these was Reagan’s dramatic cutting of income tax rates, across the board, to stimulate economic growth, a policy drawn from Jack Kemp. The less publicly recognized, yet arguably even more important, leg of Reaganomics was the promise to restore high integrity monetary policy.
Forbes’s own editor-in-chief Steve Forbes is the most celebrated supply-side thought leader since the departure of Jack Kemp. And Steve Forbes has maintained his very own “dual mandate” — holding high the torch for a flat tax and for the gold standard, both in the service of job creation and a climate of fairly distributed prosperity.
Cruz lit his torches from Forbes’s (and a handful of Forbes’s peers).
Let’s, first, go for the gold.
Ralph Benko, internationally published weekly columnist, co-author of The 21st Century Gold Standard, lead co-editor of the Gerald Malsbary translation from Latin to English of Copernicus’s Essay on Money, is American Principles Project’s Senior Advisor, Economics.