Saturday, September 13, 2014

The Purpose of Supply-Side Economics

Demand-side Economics can easily be conceived as a means to the provision of sustenance goods to all members of a society, and, hence, to the strength of the latter.  In contrast, the Good of Supply-side seems less concrete.  For, for example, its recent advocates tout it as an effective counter-measure to Inflation, which, while superficially seeming beneficial to somebody, is typically further justified only by its systematic relation to other abstract formulations.  Now, most of those advocates also both conceive Full Employment as promoting Inflation, and oppose Government subsidies of the needy.  Hence, whatever the purpose of Supply-side Economics might be, it is difficult to identify it with that of Demand-side Economics, and, so, the standard representation of the two as rivals to one and the same end is misleading, at minimum.

No comments:

Post a Comment