Hmmm, that's what I thought too, but the introduction to the Wikipedia
article on the subject doesn't mention Friedman. Here's what it says. You
can read the rest at:
https://en.wikipedia.org/wiki/Supply-side_economics
Supply-side economics is a
macroeconomic
theory arguing that
economic growth
can be most effectively created by
lowering taxes
and
decreasing regulation
[1]
[2]
, by which it is directly opposed to
demand-side economics
. According to supply-side economics, consumers will then benefit from a
greater
supply of goods and services at lower prices and employment will increase.
[3]
It was started by economist
Robert Mundell
during the
Ronald Reagan
administration.
The
Laffer curve
is one of the main theoretical constructs of supply-side economics, the idea
that
lower tax rates when tax level is too high will actually boost government
revenue
because of higher economic growth.
[4]
The term "supply-side economics" was thought for some time to have been
coined by
journalist
Jude Wanniski
in 1975, but according to
Robert D. Atkinson
the term "supply side" was first used in 1976 by
Herbert Stein
(a former economic adviser to President
Richard Nixon
) and only later that year was this term repeated by Jude Wanniski.
[5]
Its use connotes the ideas of economists
Robert Mundell
and
Arthur Laffer
. It is commonly confused with
trickle down economics
Evan
-----Original Message-----
From: peter altschul
Sent: Thursday, October 25, 2018 11:24 PM
To: blind-democracy@xxxxxxxxxxxxx
Subject: [blind-democracy] SUPPLY-SIDE ECONOMICS re: Re: Ah Hah!
Hi:
Milton Friedman was one of the founders of supply-side economics.
Over the years, I have
asked four economist types about the key components of
supply-side economics, and have received four different answers.
Best, Peter
----- Original Message -----
From: Carl Jarvis <carjar82@xxxxxxxxx
To: blind-democracy@xxxxxxxxxxxxx
Date sent: Thu, 25 Oct 2018 17:29:15 -0700
Subject: [blind-democracy] Re: Ah Hah!
Milton Friedman had a huge impact during the last half of the
21st
century, and was often quoted as the absolute authority in
American
Economics, but in more recent times his theories have been
challenged.
Years ago I read a book of Milton Friedman's...Capitalism and
Freedom,
I think. I got lost somewhere in the middle.
Carl Jarvis
On 10/25/18, Miriam Vieni <miriamvieni@xxxxxxxxxxxxx> wrote:
So I started looking through emails and there is the name of the
economist
to whom I keep referring and whose name I can't seem to
remember.
Milton Friedman!
He's the guy whose financial shock therapies have been used in
so many
countries, as well as in New Orleans. I read about him at first
in Naomi
Klein's book.
Miriam
