Definition of voodoo economics in English:

voodoo economics

plural noun

US
informal
  • often treated as singular An economic policy perceived as being unrealistic and ill-advised, in particular a policy of maintaining or increasing levels of public spending while reducing taxation.

    ‘as governor, he put into practice the same voodoo economics that he would later impose on the country as president’
    • ‘It is voodoo economics, indeed.’
    • ‘As Reagan's vice president Bush learned to live with voodoo economics and suffered the consequences in a one-term presidency.’
    • ‘What that adds up to is another case of voodoo economics.’
    • ‘Well, you know, the accounting in those days, Larry, was voodoo economics, in a sense.’
    • ‘It is about time they start to work out that that is voodoo economics.’
    • ‘So we can see that it is all voodoo economics, and that it will not work.’
    • ‘In the old days that was called voodoo economics - somehow one could have one's cake and eat it too.’
    • ‘It has been years since I have heard such voodoo economics.’
    • ‘The single policy is tax cuts - voodoo economics.’
    • ‘There's been a lot of voodoo economics spoken about this, and a lot of ideological opposition without a lot of common sense.’
    • ‘When the "deputy spokesperson on voodoo economics" over there on the Opposition benches criticises the tax legislation introduced by this Government it is a little bit rich.’
    • ‘Theoretically, this neo-liberal premise flows from Chicago-style voodoo economics.’
    • ‘His father once denounced this supply-side theory as "voodoo economics," and most economists would agree.’
    • ‘That is not only voodoo economics; it would also take New Zealand back to a failed past of failing public services, funding cuts, and misery for Kiwis.’
    • ‘There is a reason this neoliberalism is called voodoo economics.’
    • ‘Once again, most voters will see the simultaneous promise of tax cuts and public spending increases as voodoo economics.’
    • ‘It is voodoo economics, the sort of economics that is thoroughly discredited in every other First World economy.’
    • ‘The Minister gave an interesting answer in which he claimed that other parties are supporting voodoo economics.’
    • ‘He then lapses into what can only be called voodoo economics to prove that the poor are best served by the fiercely competitive private sector.’

Origin

1980s: popularized as a disparaging term by George Bush (see Bush, George) in his 1980 campaign for the Republican presidential nomination.