Supply Side Economics: Old Truths and New Claims

  title={Supply Side Economics: Old Truths and New Claims},
  author={Martin S. Feldstein},
This paper, prepared for the annual meetings of the American Economic Association, examines the claims that were made at the beginning of the decade by the "new" supply-siders and contrasts their views with the traditional supply-side economics that has been a prominent part of economics since Adam Smith. The analysis gives particular attention to the pace of recovery and growth and to the revenue effects of the 1981 tax cut. 
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