Posted on 08/30/2005 8:56:32 AM PDT by SolidSupplySide
Economist Jude Wanniski, the man who coined the term "supply-side economics," died of a heart attack earlier today at 67.
The former WND columnist was founder and chairman of Polyconomics, Inc., and author of the 1978 book "The Way the World Works," named one of the 100 most influential books of the 20th century by the editors of the National Review. At the heart of the book is his 1978 discovery of the cause of the 1929 stock market crash, a discovery that vindicates the classical economics, which had been blamed for the crash and the Great Depression.
"Jude will be greatly missed by all who knew him," said Joseph Farah, editor and founder of WND. "To me he was a curmudgeonly adviser and friend. He had a sharp and biting wit and never hesitated to say what was on his mind – whether you liked it or not."
(Excerpt) Read more at worldnetdaily.com ...
Wanniski was undeniably a titan of conservative economics. I will be a lifetime student of the philosophy he advacated. May he rest in peace.
Sad.....Always enjoyed him the few times I heard him, and certainly agreed with most things he expounded...
Jude was a unique voice in economics, a constant critic of the huge base of Keynesian economists who have dominated economic thought in the past century. He was great in this role, and shed much light on the dismal science even though he was not a trained economist himself.
In later years, though, as he strayed more and more into politics, it seemed to me that he took up common cause with a lot of strange characters. His anti-war views in particular tended to pull his chain in strange directions. When he became an apologist for L. Farrakhan is about the time I lost a lot of interest in what he had to say.
Wanniski was a journalist and very good at self promotion. While he was instrumental in the reemergence of classical economics, I don't think he did us any favors in his later years.
Wanniski's footprint is the destruction of Keynesian economics. Keynesians do not rule anymore in large part due to Wanniski.
He had little influence in wider political aspects. He is best ignored when he strays too far from economics.
But his advocacy of classical economics over Keynesianism is still paying dividends today. Wanniski is still doing us favors even after his death.
Keynesianism is alive and well. GWB time after time portrayed his tax cuts as putting money in the hands of consumers, not investors. Twice he put out a statement through Ari Fleischer saying that he was adamantly against any capital gains tax cut. I won't even mention the big increase in government spending under GWB. Big government and armies of economists don't give up so easily.
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