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Originally Posted by dc_dux
The fallacies of supply side economics have been debated here before and I dont see a reason to rehash the same arguments and evidence.
I subscribe to the Mr. T. school of economic thought.
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i pity the foo' who advocates extreme laissez-faire anarchic capitalism over a sensible, mixed national infrastructure founded on genuine, public-private sector partnerships characterized by competent, vigorous oversight and accountability!
i dunno, doesn't quite fit on a bumper sticker, does it?
little-known fact: the iraq reconstruction is a total showcase of supply-side economic reform at work. and i think we can all learn from the success the friedmanites have met with there. we can argue the economic abstractions but the bottom line (sorry! :P ) is, the supply side thing has been tried over and over. doesn't work except for a tiny minority (for whom it works exquisitely well). the record is clear on this.
i'm reading "shock doctrine" by naomi klein right now. it's making me fighting mad. great book.