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- Title
'Reganomics' and Supply-Side Economics: A British View.
- Authors
Marshall, M. G.; Arestis, P.
- Abstract
The article is a rather different endeavor; it is an attempt by two observers from across the Atlantic to explain the triumph in the U.S. of supply-side ideas. The might be regarded as slightly presumptuous even by the more Anglophile of American colleagues. However, researchers believe it does have the merit of rekindling discussion of an important and interesting question, one likely to be relatively ignored in the general debate; that is, "why did supply-side economics gain a pre-eminent position during the U.S. President Ronald Reagan period? The article is concerned with ways in which and reasons why, supply-side economics came to constitute the economic core of "Reaganomics." Keynesian influence on policy-making was rather slow to develop in the U.S., hampered as it was by the association in the minds of those in the right wing of the political spectrum of Keynesianism with "New Dealism" and "Reformism." There is perhaps a natural temptation to look for neat parallels between the U.S. and Great Britain in the 1940s, but the thesis that the U.S., in that decade and subsequently, underwent a conversion to "Keynesianism" similar to that achieved in Great Britain is not sustainable.
- Subjects
UNITED Kingdom; UNITED States; SUPPLY-side economics; REAGAN, Ronald, 1911-2004; PRESIDENTS of the United States; SUPPLY &; demand; KEYNESIAN economics; ECONOMIC policy
- Publication
Journal of Economic Issues (Association for Evolutionary Economics), 1989, Vol 23, Issue 4, p965
- ISSN
0021-3624
- Publication type
Article
- DOI
10.1080/00213624.1989.11504968