Final answer:
President Carter's plan involved tax reforms, deregulation, and expansion of social programs. Its impact on the economy from 1977 to 1981 had both benefits and consequences. If implemented now, some aspects may still be relevant, but adaptation is necessary considering the current economic context.
Step-by-step explanation:
During President Carter's presidency from 1977 to 1981, his plan to fix the economy involved measures such as tax reforms, deregulation of major industries, and expansion of social programs. While some of Carter's initiatives received bipartisan support and had long-term benefits, such as reducing inflation, they also came with short-term consequences. Unemployment increased, and the shortage of capital made it difficult for businesses and consumers to obtain loans.
If President Carter's plan were implemented now in 2020-2021, it is difficult to predict the exact outcome as the economic conditions and challenges are different. However, some aspects of his plan, such as tax reforms and expansion of social programs, may still be relevant in addressing current economic issues. It is important to consider the specific context and adapt policies accordingly.