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Reaganomics: Supply Side Economics in Action Hardcover – 1981

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Product Details

  • Hardcover: 229 pages
  • Publisher: Arlington House (1981)
  • Language: English
  • ISBN-10: 0870005057
  • ISBN-13: 978-0870005053
  • Product Dimensions: 9.1 x 6 x 1 inches
  • Shipping Weight: 1.2 pounds
  • Average Customer Review: 4.0 out of 5 stars  See all reviews (2 customer reviews)
  • Amazon Best Sellers Rank: #2,214,457 in Books (See Top 100 in Books)

More About the Author

Bruce Bartlett is a columnist for The Fiscal Times, an online newspaper covering public and personal finance, and Tax Notes, a weekly magazine for tax practitioners and policymakers. He also contributes a weekly post to the Economix blog at the New York Times, and writes regularly for the Financial Times. Bartlett was previously a columnist for Forbes magazine and Creators Syndicate. His writing often focuses on the intersection between politics and economics and attempts to inform politicians about economics, and economists about the current nature of politics.

Bartlett's work is informed by many years in government, including service on the staffs of Congressmen Ron Paul and Jack Kemp and Senator Roger Jepsen, as executive director of the Joint Economic Committee of Congress, senior policy analyst in the Reagan White House, and deputy assistant secretary for economic policy at the Treasury Department during the George H.W. Bush administration.

Bruce is the author of eight books including the New York Times best-seller, Impostor: How George W. Bush Bankrupted America and Betrayed the Reagan Legacy (Doubleday, 2006). His last book was The New American Economy: The Failure of Reaganomics and a New Way Forward (Palgrave Macmillan, 2009). His new book, The Benefit and the Burden, will be published by Simon and Schuster in 2012 and is a history and review of issues related to tax reform.

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Format: Hardcover
Despite the erroneous claims of several Keynesian progressives, the supply side theory was actually a very successful policy that resulted in an average growth rate of 3.2 percent per year. That being said, this book is actually the first major attempt at expressing exactly what Supply Side Economics is. This attempt at profiling the dreams of the Supply Siders is something to admire however, the policies that were advocated in this book were not necessarily the policies that were in effect. Knowing this fact, all readers should read this book as a "treatise" on Supply Side Economics and not a vindication of the Reagan economic policies.
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Format: Paperback
Supply side economics assumes that people will always buy a good or service if the price is low enough. The market can produce as much as it wants, supply the goods, and there will always be a buyer for those goods if the price is dropped or low enough to create a buying incentive.

The most recent recession shows the falacy of this thinking. In addition, a book entitled Zombie Economics goes into detail examining different failed economic theories and supply side economics is considered a failed theory now by many including David Stockton of the Reagan administration who was once a big proponent of supply side economics.

To say it worked is just ignoring the facts. What created the jobs in the Reagan administration was the stimulas spending. The govenment spending for a huge military buildup including Star Wars was the greatest military spending increase since the Vietnam War. That spending is what brought the country out of the recession and created the jobs. Not the tax cuts as is the myth. In fact tax increases under Bill Clinton saw far greater prospertiy and economic growth than under Reagan.

Bartlett now along with many economists have concluded that supply side economics was a grand experiment that failed.
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