A history of Supply Side

Photo by Marc Schäfer on Unsplash

Before 1980, Democratic and Republican President had essentially all worked under the same underlying assumptions about the economy. All of them believed government investment was an antidote to recession, an economic worldview popularized by John Maynard Keynes after concluding this is what had helped the US get out of the Great Depression. Both Democratic and Republican Presidents believed in massive government jobs programs and welfare…