Volume 28, Number 10 · June 11, 1981
The Demand for the Supply Side
By Robert L. Heilbroner
Supply-side economics has taken Washington by storm. Both a diagnosis and a prescription, supply-side economics comprises ideas about what is wrong with the economy and remedies to put it right. As its name would indicate, both diagnosis and prescription emphasize the actual production of goods and services rather than the buying of them. From this vantage point, supply-siders see our fundamental difficulties as constraints, mainly caused by taxes that deter productive effort, rather than as problems deriving from a lack of purchasing power. We catch a vision of the economy as a coiled spring held down by the weight of government. Remove the weight and the spring will reveal its inherent force.
Feature, 5529 words
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