Supply Side Has The Answers To Global Pressures, Too

There hasn't been a macroeconomic policy debate for so long that it is hard to remember what they were like. The Keynesian demand-management edifice has crumbled, just like the Berlin Wall and Soviet communism. Today, fiscal policy is entirely dominated by the supply-side emphasis on the relative price, or incentive, effects of taxation, and we no longer hear about how "expansionary fiscal policy" (budget deficits) make it impossible for the Federal Reserve to control inflation.

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