This is part two of my article series on supply side nuttery. In article one, I (hopefully) made my position very clear. It doesn’t work. No matter what measure you use…no matter what standard you apply to it…it DOES NOT WORK. Having said that, I’m now going to explain when …Wait! Don’t stop there!
The cornerstone of Supply Side economic theory is Say’s Law. The commonly used shorthand for it is that “supply creates its own demand,” which encapsulates the primary notions of what we know of supply side economics today in a few words. The problem is, the encapsulation above ISN’T what Say’s …Wait! Don’t stop there!
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