Conservatives deride Bruce Bartlett, a supply-side economics inventor, as a Keynesian for criticizing their devotion to tax cuts.
And “supply-side economics” is now widely recognized as nonsense.
And Arthur Laffer, the creator of supply-side economics, may have fathered six children.
Ronald Reagan could get away with sunny generalizations about supply-side economics because in 1980, it was just a theory.
See my 1981 book, Reaganomics: supply-side economics in Action, for details.
Is this the re-emergence of Paul Ryan's affiliation with the Jude Wanniski/Jack Kemp school of supply-side economics?
An economic theory that holds that, by lowering taxes on corporations, government can stimulate investment in industry and thereby raise production, which will, in turn, bring down prices and control inflation. The theory also favors improvements in education and training to make workers more productive and reducing the welfare state to spur individuals to work harder. Supply-siders focus on increasing the supply of goods rather than stimulating demand by granting subsidies to the public. Supply-side economics influenced the presidency of Ronald Reagan.