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Location: Nashville, Tennessee, United States

9/29/2003

Here's Some Good News...
...about supply-side economics. It seems the International Monetary Fund, the World Bank, and Nobel Prize-winning economists agree it works:

What about academia? Isn't supply-side economics still ignored there? The answer is no. A good example is Nobel Prize-winning economist Robert Lucas of the University of Chicago. After many years of dismissing supply-side economics in much the same way TAPPED does, he finally took a serious look at it. In a 1990 article in the Oxford Economic Papers, he admitted that he had been wrong, that reducing taxes on capital could in fact deliver a huge economic windfall, just as the supply-siders had argued.

Said Prof. Lucas, "The supply-side economists, if that is the right term for those whose research I have been discussing, have delivered the largest genuinely free lunch I have seen in 25 years in this business, and I believe we would have a better society if we followed their advice."
Well, yeah.