For what I understand, this statement held on January 20th 1981 signalled the start of what is known as Reaganomics. How fruitful it was for America, well I don't know but it was a major source of inspiration for rightist parties across Europe.
That was particularly the case in France, starting with Chirac in his bids to become elected president in 1988 and on. Now, that is sort of ironic when one considers how the same man and his affiliates of the so-called centre were the most interventionists of all politicians during the 60s and 70s under De Gaulle, Pompidou and Giscard.
But never mind, now we've entered the XXIth century and "néo-libéralisme" as it was called in Europe before gaining the name "ultra-libéralisme", has been implemented in about all countries like Greece, Italy, Spain, Iceland and France of course but to a lesser degree though (notwithstanding Argentina). For some reason, Scandinavian countries have kept their head cool and are breezing with ease, safety and tranquillity. Ah, those socialist ignoramus in economics!
Obviously there have been some hitches on the road to prosperity and we're now witnessing how all these countries, former avant-garde of heavenly economical felicity, are now yelling out for rescue from European States.
Oh, and look at Spain with a 25% unemployment rate, yes25%! And to think there was a special issue of Time (was it Newsweek?) dedicated to the vibrant economy of this Mediterranean tiger some years ago... (also Spain was a docile ally in Iraq). What went wrong?
Even better: Obama is now calling for European States to act together in order to put an end to the mess liberal economic politics have brought in their countries.
At the end of the day, it all boils down to the same line from capitalists: Profits Privés, Pertes Publiques.
And the masses who believe they can choose their fate through universal suffrage keep on voting and electing the very ones whose ultimate goal is to fleece them in the name of abundance and personal welfare.
Contrairement à ce que professait Hegel, ll n'y a aucune rationalité en Histoire. Sheeps are sheeps, wolfs are wolfs and are not exactly interested with the formers happiness.