The American Spectator : Do Do That Voodoo That They Did So Well

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Do Do That Voodoo That They Did So Well

By Nick Schulz from the December 2009-January 2010 issue

A policy and intellectual success without rival in contemporary history.

(Page 2 of 2)

And to be fair, there are some ostensible supply-siders who do not fully understand its nuances and history enough to know better and who provide grist for the anti-supply-sider mill by advancing extravagant claims about the power of tax cuts. But as this history makes abundantly clear, the brains behind the movement never advanced such a simplistic argument.

Either way, supply-side economics' critics have no interest in appreciating the real history of the supply-side intellectual and policy successes, in large measure because those successes cast doubt on the wisdom of their preferred policy prescriptions, which include sustained loose monetary policies and higher marginal tax rates.

As the country faces mounting deficits and unemployment that is high and rising -- with only inflation yet to head north -- it may be that supply-side ideas will once again be ripe for rediscovery and resurrection. If so, the battles will surely be no less contentious than they were when Reagan's proposed policies were dubbed "voodoo economics" by members of his own political party. But they will be no less important to wage than they were those dark days a generation ago.

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topics:
Supply-Side Economics, Robert Mundell

About the Author

Nick Schulz is the DeWitt Wallace Fellow at the American Enterprise Institute and editor of The American.

Letter to the Editor View all comments (7) | Leave a comment

McGehee| 12.15.09 @ 8:20AM

There is clearly more than one verdict. Domitrovic writes of the verdict of history, beside which no other is worth reading.

Ken (Old Texican)| 12.15.09 @ 6:30PM

WOW!
No comments here!

Mr. Schulz...BRILLIANT ARTICLE!

I have always been fascinated by the "laffer curve".

The guys...then REAgan hit a line drive out of the park. A walk-off grand slam home-run if you will.

Thank you so much for your article. "The guys" figured it out...and Reagan sold it. Whew, big brass ones all around. heh!
"Attaboy" for all of them...most of all for their courage.
Thank you again. I watched it unfold.
Ken

Alan Brooks| 12.15.09 @ 6:51PM

it was the Bushes who destroyed Reaganomics. And you wont learn, you think because Bush 41 was Reagan's veep you owe it to his children to keep electing them. 2 potuses; two governors,and counting.

They are bigger than the Kennedy's.

philfl63| 12.15.09 @ 10:07PM

Everything regards the troubles to our economy were created by government interference such as the author related. It is pathetic that we have been so boon-doggled by our political leaders for so many generations. If the government had stayed out of the economy all of that time, we would never have suffered depression, inflation, stagflation etc. The stupid negro in the White House and his crooks and to be fair the lying fools of both political parties will destroy our economy.

Adam| 12.27.09 @ 7:17AM

excellent review.i like this section out of all in this web site.thanks
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