Jude Wanniski, 69, Journalist Who Coined the Term 'Supply-Side Economics,' Dies
Mr. Wanniski coined the phrase "supply-side economics" to describe his idea that a reduction in personal tax rates would stimulate productive investment, the production side of the economy and spur economic growth. He immodestly called this idea, which he formulated in the early 1970's, "a general theory of the world political economy."
Others viewed it as traditional Republican "trickle down" economics, meaning that the benefits accruing to wealthier taxpayers would filter throughout the economy. But, indisputably, the idea that tax cuts are almost always a good idea became a tenet of Republican, and many Democratic, campaigns.
Since 1978, Mr. Wanniski had been president of Polyconomics, where he and his analysts advised corporations, investment banks and others. He has also been involved in political campaigns like that of Steve Forbes in 1996 for the Republican presidential nomination, which highlighted another novel economic idea: a single tax rate for everyone.
How far Mr. Wanniski may have wandered from the traditional bounds of the Republican Party was suggested by his endorsement of Senator John F. Kerry in the 2004 presidential race. He called President Bush "an imperialist."
comments powered by Disqus
- Joan Baez, Sly Stone, Steve Martin, Ben E. King -- all honored by the Library of Congress
- StoryCorps to Launch Global Expansion With $1M TED Prize
- Hofstra Event Looks at Bush Presidency
- Did Israel steal uranium from a town in Pennsylvania in the 1960s?
- Sequel to Nelson Mandela's Long Walk to Freedom to be published next year
- Emory’s Leslie Harris says we should remember the racist roots of American colleges as we think about what went wrong at OU and other schools
- Stanford historian looks to the U.S. Postal Service to map the boom and bust of 19th-century American West
- U.S. historian denounces Japanese scholars' statement over wartime sexual slavery
- Timothy V Johnson Named Head of Tamiment Library
- History Camp "unconference" returns for the second year in Boston