UNITED STATES- Supply-Side Fiasco

Supply-Side Fiasco Sudhir Sen SUPPLY-SIDE economics, though at times dignified as a theory, is little more than a brainwave, unsupported by scientific analysis or empirical evidence. When Arthur Laffer, the young and ebullient professor of economics at the University of Southern California, first propounded his thesis and reportedly illustrated it with the now-famous curve first drawn on a cocktail napkin, most economists dismissed it as unworthy of serious notice while some greeted it with outright ridicule. It floated around aimlessly, but refused to die mainly because Laffer acted as its tireless trail-blazer and salesman.