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- W4248770942 abstract "The embrace of supply-side economics at the end of the 1970s has been described as a “revolution”. Certainly, the ideas had at times a quasi-evangelical edge. Marginal tax reductions, deregulation, regulatory easing, the restructuring of the labor market, deficit reduction and trade liberalization would, it was said, transform the US economy, bolster national competitiveness, and lift many millions out of poverty. Nonetheless, over the years that followed, many of the ideas that had defined the supply-side revolution were relegated to the ideational “reserve benches”. Little was left as a basis for political mobilization apart from a fervent commitment to tax cuts and, intermittently, partisan concerns about the federal government deficit and the administrative burdens imposed upon business. At the same time, the right’s understanding of tax cuts increasingly focused on their capacity to bolster overall demand levels. This chapter considers the reasons for these ideational shifts, arguing that many supply-side ideas became institutionally “unmoored” and could not therefore endure over a sustained period." @default.
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- W4248770942 date "2019-09-27" @default.
- W4248770942 modified "2023-09-29" @default.
- W4248770942 title "Economic policy: reconfiguring the supply-side" @default.
- W4248770942 doi "https://doi.org/10.4337/9781788114806.00006" @default.
- W4248770942 hasPublicationYear "2019" @default.
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