Economic Theories

Economic Theories

Supply side

Supply Side Economics

Many jokes were made, both during the elections and while he was president, about Ronald Reagan having been a Hollywood actor. But what was not so widely publicized was the fact that he was the only president that we have ever had who graduated college with a degree in Economics.

Now, of course it’s true that, just because a person has a degree in a subject doesn’t mean that all of his ideas will work in practical application. But a degree ought to be a flag for people — even people in the media — to at least take a serious look at what the person has to say.

The economic policy that was promoted by Ronald Reagan (and which was subverted to a large extent by a Congress that insisted on over-spending) has been ridiculed as “trickle down” economics. But , just like most arguments on most sides of most subjects in politics these days, are so overly simplified that they don’t actually describe the reality (either the problems or the potentials) of the real world.