>>Wow! You really have **no** idea what supply-side economics is about.
Yes, I do.
>>Jobs are not created because “corporate decision makers” become altruistic.
That was sarcastic. It was meant to imply that they will NEVER create jobs in America as long as third-world slave labor is cheaper. Do you want Americans to compete with third-world slaves for a dollar an hour to make a $900 iPad? Do you understand what the Federal Reserve has done to our money system to insure that our workers can NEVER compete with the rest of the world?
An economy is a SYSTEM. Its not a collection of independently operating theories. Remember that all economic theories begin with “ceteris paribus”: with all other things equal. It is not equal. The “other things” are never equal nor are they static! If you push here, something pops out there. If you don’t work with the SYSTEM, you just create a problem or two or three every time you try to poke something to fix it.
Nice lecture. No new arguments, but plenty of fire.
“Remember that all economic theories begin with “ceteris paribus”: with all other things equal. It is not equal. The “other things” are never equal nor are they static!”
I would recommend Hayek’s “The Fatal Conceit.” Supply-side economics is just the implementation of what Hayek called, if memory serves, “the extended order of human cooperation.”
That means, what people do when nobody is forcing them to comply with some ideology.
Call it classical economics, the Chicago School, supply-side economics, or whatever sparks your plug, it comes down to “how people choose to act when nobody is forcing them to act in other ways.”
And that force, because it is the composite of millions or billions of individual decisions, is never static; never “ceteris paribus,” but always “mutatis mutandis.”
Reagan was right.