Today’s Brew 3-28-11

Ralph Benko for Forbes:

The Rise And Fall And Rise Again of Supply-Side Economics?

Until … Rep. Jack Kemp, a fairly junior member of the House of Representatives, gathered around himself a group of “econoclasts,” to use the witty neologism of economic historian (and fellow Forbes columnist) Brian Domitrovic, who came to call themselves the “supply side.” Their core insight was simple.  Rather than rely on a policy of high tax rates and a weak dollar, move toward a policy of low tax rates and a strong dollar.  The late Jude Wanniski called it “the Mundell-Laffer Hypothesis.” And it was derided by the policy elites as “Voodoo Economics.”

Advertisements

Supply-Side Notes 3-15-11

Historians Are Still Botching the Supply-Side Revolution

Brian Domitrovic at Forbes.com:

The problem with composing a straight history of supply-side economics is that inevitably, you’ve got to make it an epic. It’s one whale of a success story – a decade of stagflation vanquished once and for all – with drama, personality, savvy, and intellectual heft in tow. If you’re a scholar settled high in our tut-tutting and left-leaning establishment, brace yourself if you decide to write that book.